Ophir Energy Plc Drilling Update (7358J)
07 Dezember 2018 - 8:00AM
UK Regulatory
TIDMOPHR
RNS Number : 7358J
Ophir Energy Plc
07 December 2018
7 December 2018
Ophir Energy plc
("Ophir")
Drilling Update
Ophir provides an update on recent drilling activity in
Indonesia and Thailand:
Paus Biru Gas Discovery, Sampang PSC, Indonesia
The Paus Biru-1 exploration well has resulted in a gas
discovery. The well was drilled to a total measured depth (MD) of
710 metres and encountered 29 metres of estimated net pay within
the target Mundu formation carbonate reservoir.
A drill stem test (DST) taken over an interval between 576 and
605 metres (MD) flowed gas at a rate of 11.2 MMscfd sustained over
5 hours period through a 64/64" choke and at 525 psig well head
pressure. The well was shut in for 9 days for pressure build up
before a maximum flow test which produced 13.8 MMscfd through a
120/64" choke for 55 minutes.
The well has been plugged and abandoned as a gas discovery and
plan of development will now be prepared for submission to the
regulator for approval. The Paus Biru discovery lies approximately
27 kilometres east of the producing Oyong Gas field, which is also
in the Sampang PSC. The approved budget for Paus Biru-1 well was
$15 million.
Ophir, through its affiliate company, has 45% participating
interest and is the operator of the Sampang PSC.
Bualuang Development Drilling
The first part of the Phase 4 development drilling programme has
been completed successfully. Four workovers and three new
production wells were drilled, all of which have been brought on
stream. Production from Bualuang averaged 9,600 bopd in November
against a year to date average of 8,000 bopd.
A step out exploration well to test a small target to the north
of the Bualuang field was drilled as part of the drilling campaign
but the main T2 reservoir target was not well developed in this
location and the well has been abandoned as a dry hole.
The total cost of the drilling campaign was $25 million versus
budget of $31 million.
Alan Booth, Interim CEO, commented:
"This is a strong endorsement of the assets acquired from Santos
earlier this year. Paus Biru is an example of the attractive near
field exploration opportunities within the Sampang and Madura PSCs.
Such discoveries can be highly valuable as they deliver both fresh
production volumes and extend the economic life of the fields
already in production."
For further enquiries please contact:
Ophir Energy plc + 44 (0) 20 7811 2400
Geoff Callow, Head of IR and Corporate Communications
Brunswick (PR Adviser to Ophir) +44 (0)20 7404 5959
Patrick Handley
Wendel Verbeek
About Ophir:
Ophir Energy is an independent Upstream oil and gas exploration
and production company focused on Africa and Asia. It is listed on
the London Stock Exchange (LEI: 213800LAZOZTKPAV258).
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END
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