PEARL Begins 3-Well Exploration Program at Sebuku PSC

PEARL Energy reports that the Shelf Explorer has arrived on location at the Sebuku Production Sharing Contract in the Makassar Straits, Indonesia and has commenced drilling the first well of a three-well exploration program expected to last 75 days.

The well is planned to be drilled to a total measured depth of 5,789 feet over 17 days and is intended to appraise the Makassar Straits-1 gas discovery drilled and tested by Ashland Petroleum Indonesia Inc. in 1974.

Chris Gibson-Robinson, PEARL's Chief Technical Officer, said that the Sebuku drilling program is a major element in PEARL's extensive exploration program this year, which, if successful, is designed to prove sufficient gas reserves for development of the Makassar Straits structure, as well as testing two additional structures that may contain both gas and oil.

The Sebuku PSC covers an area of approximately 8,773 sq. km and is located offshore east of Kalimantan.

The Shelf Explorer was contracted in alliance with Chevron Indonesia Company from Transocean. Once PEARL's drilling program is completed, the rig will be released to Chevron.

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