PTTEP Touts Successful Results from Cash-Maple Appraisal

PTTEP reported successful drilling results of the appraisal well, Cash-2, located in the Cash-Maple field in the Timor Sea of Australia. The well was drilled to a total depth of 4,135 meters on August 15, 2011. The flow rate testing was conducted in two zones. The 1st zone indicates flow rate of approximately 28 million standard cubic feet of natural gas per day (MMscf/d) and 737 barrel of condensate per day (Bcf/d). The 2nd zone indicates the flow rate of 30 MMscf/d and 663 Bcf/d.

The well results will provide important input for pre-FEED (Preliminary Front End Engineering Design) studies for a potential Floating LNG (FLNG) project in the Timor Sea to allow offshore stranded gas resources to be developed. An additional appraisal well is planned to drill in 2012 to affirm reserves in the area and justify the project's economic viability.