RH Petrogas Updates on Operations at its Indonesian Assets
RH Petrogas Limited (the Company) provided Wednesday the following updates on the operating activities of the Company and its subsidiaries (the Group) at its Production Sharing Contracts (PSC) in Indonesia as at Nov. 27 and the scheduled upcoming news flow.
1. Kepala Burung SC (Basin PSC) and Salawati Kepala Burung PSC (Island PSC), Indonesia
- Klagalo-1 exploration well onshore Basin is currently being tested after wire-line logging indicates potential hydrocarbon zones from the Kais limestone. Final test results will follow soon
- Klalin-15 development well onshore Basin currently being tested to confirm flow rate of gas and condensate. Final test results will follow soon
- Klalin-17 development well onshore Basin currently being tested to confirm flow rate of gas and condensate. Final test results will follow soon
- Koi-2 appraisal well offshore Island scheduled to start spudding by end of November 2013
2. Scheduled upcoming news flow:
Dec 2013: Basin - Announcement on test results of Klagalo-1 exploration well
Dec 2013: Basin - Announcement on test results of Klalin-15 and Klalin-17 development wells
Dec 2013: Fuyu - Overall Development Plan approval targeted
Jan 2014: Island - Announcement on progress on exploration drilling of Koi-2 appraisal well
Mar 2014: Basin - North Klalin Field Plan of Development approval targeted
Oil and gas exploration, development and production are expensive, high-risk and complicated operations. Shareholders and investors are advised to exercise caution when dealing in the shares of the Company.
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