Indonesia: Pan Orient moves to second exploratory location

Pan Orient Energy Corp., Calgary, has abandoned the Shinta-1 exploratory well on the Batu Gajah PSC in south-central Sumatra, Indonesia, and is moving the rig to the Buana-1 location.

Pan Orient, operator with 77% working interest, drilled Shinta-1 to 6,297 ft measured depth and encountered oil shows from 1,300 ft to total depth.

A fluid sample containing 120 ml of oil and 820 ml of water was recovered from a sandstone at 5,758 ft in the primary target Lower Talang Akar formation. However, open-hole wireline logs, mud logs, and pressure data and fluid samples indicate no commercial zones.

Shinta-1 was drilled for an estimated $3.4 million, 29% below the government-approved AFE.

Buana-1 is an updip appraisal of the 2011 NTO-1 gas discovery. It targets gas in Lower Talang Akar sands and oil in Upper Talang Akar and Gumai sands.

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