SYDNEY (Indonesia Today) – The LOFIN-1 ST exploration well on Seram Island in eastern Indonesia has reached a depth of 4,383 meters MD with trace oil shows encountered in the drilling mud across a cumulative internal of 117 feet of the 379 feet of open hole Manusela Formation.??
Lion Energy informed ASX Friday (Sept 21) that the first trace oil show was encountered at 4,267 meters and shows have continued intermittently to the current total depth.??
“The current operation is running DST string into the well to conduct open hole drill stem test across the open hole Manusela Carbonate Formation,” Lion said.
Lion has retained a 2.5% shareholding in the Seram (non-BUla) block renewal production sharing contract. The major shareholder and operator of the JV is CITIC Seram Energy (51%). Other partners include KUFPEC (30%) and Gulf Petroleum Investment (16.5%). (bintang@theindonesiatoday.com)
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