Santos finds more oil in RI

Wed, 04 Jul 2001 | Source: DJ

CANBERRA (Dow Jones): Australian-listed companies Santos Ltd. and Cue Energy Resources Ltd. have discovered more oil and gas in drilling the Oyong-2 well offshore east Java, Cue reported on Tuesday.

Santos is the operator and holds a 45% stake in the well, Cue has a 15 percent stake and Coastal Indonesia Sampang Ltd. holds the 40 percent balance.

Cue reported in a statement a 110 meter gross column of gas in Oyong-2 and "a gross oil column of up to a possible 40 meters," after wireline logging.

Oyong-2 was drilled to appraise gas and oil zones penetrated in Oyong-1, 125 meters away, and to drill deeper, Cue said.

Early Tuesday Oyong-2 was at 1,006 meters, heading for total depth 2,280 meters, it said.

On May 31, Cue reported a 110 meter column of gas and a possible 22 meter gross column of oil from 813 meters in Oyong-1 well, located 80 kilometers east of Surabaya city.

View JSON | Print