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- Release Date: 12/07/13 11:22
- Summary: MINE: NZO: Operator provides Kisaran update
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NZO
12/07/2013 09:22
MINE
REL: 0922 HRS New Zealand Oil and Gas Limited
MINE: NZO: Operator provides Kisaran update
The operator of the Kisaran Production Sharing Contract in onshore North
Sumatera has received approval from the Indonesian regulator to provide the
following update:
"Pacific Oil & Gas (Kisaran) Ltd, the Operator of Kisaran Production Sharing
Contract area, located onshore North Sumatra, said that it has successfully
drilled the Parit Minyak-2 (PM-2) exploration well. The well is the second
exploration well in the Parit Minyak structure and is located 1.6 km to the
north of the Parit Minyak-1 discovery well. The objective of this well was to
test upper and middle Pematang Formation reservoirs in order to bring this
field into the development phase.
"PM-2 spudded on February 11, 2013 and reached a total depth of 9225 feet MD
(9165 feet SS) on April 10, 2013. During drilling several oil shows were
noted within Eocene/Oligocene Pematang sandstones within a gross interval of
7500-8900 feet. The base of the oil column was not reached at the cessation
of drilling.
Cased hole drill stem tests (DSTs) were conducted over four intervals, each
containing multiple sandstones. From the interval 8136-8330 feet the well
flowed 37o API oil at rates in the range of 200-400 BOPD (32/64" choke,
80-100 psi flowing well head pressure) with no water.
"A hydraulic fracture program has been prepared to stimulate one of the DST
intervals in order to test increasing the productivity of the reservoir. This
programme is scheduled for late August 2013.
"The drilling rig will now be moved to the site of the next Kisaran
exploration well, Parit Minyak-3, which is estimated to spud mid-July 2013."
New Zealand Oil & Gas Ltd has a 22.5% stake in the joint venture through the
share ownership of its subsidiary NZOG Asia Pty Ltd in Pacific Oil & Gas
(North Sumatera) Ltd. The Kisaran Joint Venture partners are Pacific Oil &
Gas (Kisaran) Ltd (55 per cent and operator) and Pacific Oil & Gas (Sumatera)
Inc (22.5 per cent).
John Pagani
External Relations Manager
M: +64 21 570 872
End CA:00238530 For:NZO Type:MINE Time:2013-07-12 09:22:56
