Cue Energy [ASX: CUE] - Naga Selatan-1 Well, Mahakam Hilir PSC, Indonesia
Cue Energy Resources Ltd has released a progress update during the drilling of the Naga Selatan-1 well. The well is located within the Mahakam Hilir PSC in the Kutei Basin, Indonesia. The well operator is SPC Mahakam Hilir Pte. Ltd.
The Naga Selatan (Southern Dragon) prospect is situated approximately 7.5km to the west of the producing Sanga-Sanga oilfield.
As of the 8th May 2012, the 12 ¼ inch section of the Naga Selatan-1 well has reached a depth of 2776 feet MD (measured depth) and is currently drilling ahead. The plan is to drill ahead to the 12 ¼ inch casing point before running wire-line logging tools to evaluate the section.