Testing Completed at Parit Minyak-3 Exploration Well in Kisaran PSC

New Zealand Oil & Gas Ltd., an independent exploration and production company based in New Zealand, announced Monday that as previously reported, gas and condensate flowed to the surface during drill stem testing (DST) of the first zone at the Parit Minyak-3 (PM-3) exploration well, located in the Kisaran Production Sharing Contract (PSC) in onshore Sumatra, Indonesia.

Flow testing of a gross open hole interval from 8,520 feet (2,598 meters) to 8,760 feet (2,671 meters) was completed Thursday, Oct. 3.

The well flowed at a rate of approximately 3 million standard cubic feet per day (MMscf/d) and 90 barrels per day condensate on a 28/64 inch choke and with a flowing tubing head pressure (FTHP) of approximately 1,000 pounds per square inch (psi).

The second DST was carried out in cased hole over two perforated intervals 8,350 feet (2,546 meters) to 8,378 feet (2,554 meters) and 8,410 feet (2,564 meters) to 8,444 feet (2,574 meters).

The well flowed gas to surface at 12,000 standard cubic feet per day on a 28/64 inch choke with a flowing tubing head pressure at FTHP of 100 psi and liquid influx to tubing was indicated. Liquid samples have been retrieved using wireline and are being analyzed.

Both tests were within Eocence/Oligocene Pematang sandstones.

The current operation is retrieving the test string and preparing the well for suspension.

New Zealand Oil & Gas Ltd has a 22.5 percent stake in the joint venture through the share ownership of its subsidiary NZOG Asia Pty Ltd in Pacific Oil & Gas (North Sumatera) Ltd.

The Kisaran Joint Venture partners are Pacific Oil & Gas (Kisaran) Ltd (55 percent and operator) and Pacific Oil & Gas (Sumatera) Inc, a subsidiary of Bukit Energy Inc. (22.5 percent).


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