Citic Suspends Lofin-2 Well in Seram PSC as a Potential Gas Producer

Australia's Lion Energy Ltd. reported Tuesday that the Lofin-2 appraisal well in Seram (Non-Bula) Production Sharing Contract (PSC) in eastern Indonesia has been suspended as a potential gas producer following a successful testing program in which the well flowed gas at approximately 17.8 million cubic feet per day (MMcf/d) with some water and minor condensate through a 52/64 inch choke.

The Lofin-2 well reached a total depth of 18,638 feet (5,861 meters) measured depth (MD), still within the fractured Manusela limestone objective. As previously reported, wireline pressure testing, combined with sampling and drill stem test data, indicates a gas column in the large Lofin structure of at least 3,629 feet (1,106 meters) and potentially up to 4,265 feet (1,300 meters). Suspension operations were delayed while the joint venture Operator elected to attempt recovery of the section of the drill string which was stuck whilst pulling out of the hole after reaching total depth. The rig was released July 19.

Lion CEO Kim Morrison that “Lofin-2 is an exciting result for Lion and we look forward to working with our co-venturers and the Government on commercializing this important discovery.”

Continuing the active Oseil development program, the Oseil-28 well was spud July 18. This follows the completion of the successful Oseil-27 well which is now flowing at a stabilised rate of 740 barrels of oil per day (bopd) with no water. The Oseil-28 well is projected to produce 500 bopd and recover approximately 480 thousand barrels (Mbbl) and is economic at current oil prices. The well is located in the Oseil-2 area, the focus of the recently approved third stage of field development.

Lofin-2 Appraisal Well

The Lofin-2 appraisal well was spud Oct. 31, 2014. The well was drilled to appraise the 2012 Lofin-1 discovery which flowed gas and some oil/condensate from the Manusela Formation fractured limestone. The well is operated by CITIC Seram Energy Ltd. (51 percent) with other co-venturers being KUFPEC (Indonesia) Ltd. (30 percent) and Gulf Petroleum Investment Company (16.5 percent).

Lofin-2 intersected the primary Manusela objective at 15,141 feet (4,615 meters) measured depth (MD) (14,790 feet or 4,508 meters total vertical depth referenced sea level or ssTVD), some 410 feet (125 meters) deeper than prognosed pre-drill. Wireline logging at the original programmed total depth (TD) of 17,949 feet (5471 meters) MD (17,546 feet or 5,348 meters ssTVD), including pressure measurements and samples, provides strong evidence that the hydrocarbon column continued deeper within the fractured Manusela limestone section. The well was therefore drilled to a revised total depth of 19,229 feet (5,861 meters) MD (18,655 feet or 5,686 meters ssTVD).

On pulling out of hole at this new total depth (TD) the drill pipe became stuck and on attempting to pull free, the drill pipe parted with the top of the 830 feet (253 meters) stuck drill string at 16,486 feet (5,025 meters) MD (16,234 feet or 4,948 meters ssTVD). A number of attempts to free the stuck pipe were unsuccessful and the joint venture elected to conduct a flow test over the open-hole section of the Manusela Formation.


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