KrisEnergy: Mustika-1 Gas Find Not Likely to be Commercial

KrisEnergy Ltd announced Monday that gas has been discovered at the Mustika-1 exploration well, in the Sakti production sharing contract in the East Java Sea, Indonesia, although initial indications suggest the discovery is likely to be below the economic threshold for a commercial find.

Drilled to a total measured depth of 2,768 feet, the well, which is the company’s last for this year, encountered gas in the Tuban and Kujung I formations. Mustika-1 will now be plugged and abandoned and a detailed analysis of the well data and gas samples will be undertaken to review the remaining prospects and leads in the Sakti PSC.

Chris Gibson-Robinson, KrisEnergy director of exploration and production, commented in a company statement:

“This is our final exploration well for 2015 with the first five being drilled in the Gulf of Thailand, all of which were successful. The first four wells resulted in the recently approved plan of development for the Rossukon field." 



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