The Sydney-based petroleum company Cue Energy Resources Ltd (ASX: CUE) which has New Zealand Oil & Gas Ltd (NZX: NZO) as its major shareholder, has detailed work on an Indonesian exploration well.
Cue said that drill stem testing of the Paus Biru-1 exploration well has been completed.
Preliminary results have been received and Cue is seeking confirmation and approval from the PSC Operator and Indonesian Government for release.
The well is currently being plugged and abandoned as planned.
Participants in the Sampang PSC Indonesia, are Santos (Sampang) Pty Ltd (An Ophir Energy Group co) 45% (operator); Singapore Petroleum Sampang Ltd 40% and Cue Sampang Pty Ltd 15%.