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- Release Date: 14/01/13 11:17
- Summary: MINE: NZO: Update on Sumatra exploration
- Price Sensitive: No
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NZO
14/01/2013 09:17
MINE
REL: 0917 HRS New Zealand Oil and Gas Limited
MINE: NZO: Update on Sumatra exploration
The operator of an exploration block in Central Sumatra Basin, Indonesia, has
advised that drilling of one exploratory well, Parit Minyak-2, is expected to
begin around 27 January. New Zealand Oil & Gas has a 22.5 per cent stake in
the block through its subsidiary NZOG Asia Pty Ltd.
Parit Minyak-2 is the first well NZOG has been involved in drilling outside
New Zealand as the company diversifies internationally while retaining a core
focus on New Zealand.
Major site construction work at PM-2 was finished on 23 December. Drilling
was scheduled to commence before the end of 2012 but equipment mobilisation
has been hampered by wet weather and other logistical factors.
The Kisaran block is located in the Barumun trough in the northern part of
the Central Sumatra Basin - the most prolific oil producing basin in South
East Asia. The Parit Minyak-2 well will appraise an undeveloped oil discovery
made in 2006, and explore additional zones that were not present in that
well.
A second well, Parit Minyak-3, is scheduled to follow with construction of
the access road currently underway.
End CA:00231994 For:NZO Type:MINE Time:2013-01-14 09:17:00
