Cue Energy Resources Ltd [CUE] - Cue Energy reports gas flow from Naga Utara-1
Cue Energy Resources Ltd (ASX: CUE) is pleased to provide the following update on the drilling status of Naga Utara-1. The well is located within the Mahakam Hilir PSC in the Kutei Basin, Indonesia. The well operator is SPC Mahakam Hilir PTE Ltd (SPC).
Cue Energy Resources has reported that as of 16th February 2012 Naga Utara-1 well is at 4887 ft MD. While plugging the high-pressure gas zone between 4780 ft MD and the current total depth, the well flowed gas, resulting in 5 to 8 metre flares over seven days. A cement plug was set between TD and 4230 ft MD.
A shallower cement plug is being set to 3300 ft MD before the hole is side-tracked to repenetrate the high-pressure gas zone between 4780 ft MD and 4887 ft MD and continue to TD. All the equipment required for the sidetrack has been procured and is on site. The well will no longer need to be suspended, as the sidetrack will be drilled immediately.
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