Naga Utara-2 Well Expected to Spud Later This Month

SYDNEY (Yosefardi) – Naga Utara-2 exploration well at Mahakam Hilir production sharing contract in East Kalimantan is expected to spud later this month.
Cue Energy, owner of 40% working interest in the block operated by SPC, said the well will appraise existing reservoirs and explore deeper targets to establish commercial flow rates and quantities.
“Potential follow up of successful Naga Utara-2 with back to back further well, Naga Utara-3,” the company said in its presentation material available to ASX this morning.
Naga Utara-1 well, drilled last year, showed good indications of gas but was unable to be conclusively evaluated.
Cue Energy also owns 15% interest in Sampang PSC, East Java, where Oyong, Wortel, and Jeruk fields are located. Santos is operator of Sampang PSC with 45% interest, while SPC owns 40% interest.