Pearl Oil Preps to Drill Ahead Offshore Indonesia

The Liyun-1 well has reached a depth of 5,436 feet (1,657 meters), and drilling is still in progress. It is anticipated that the target reservoir in the Kunung-1 formation will be intersected in the coming week. The well has a planned total depth of about 8,432 feet (2,570 meters). Liyun-1 is an exploration well in the Bulu Production Sharing Contract, located in the East Java Basin, offshore Indonesia in a water depth of 180 feet (55 meters). Pearl Oil is the operator of the Bulu Production Sharing Contract, holding a 42.5% interest; AWE holds a 42.5% interest; PT Satria Energindo holds a 10% interest; and PT Satria Wijaya Kusuma holds the remaining 5% interest.

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