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10/12/2018 — Oil and Gas
Cue confirms new Indonesian gas field

Cue Energy Resources Ltd (ASX: CUE) has confirmed that a new gas field has been discovered at the Paus Biru-1 exploration well offshore East Java in the Madura Strait, Indonesia.

An initial Drill Stem Test (DST) undertaken over the 576-605 mMD interval flowed gas at a rate of 11.2 MMscfd sustained over a five hour period through a 64/64” choke at 525 psia well head pressure.

The well was then shut in for nine days for pressure build-up before a maximum flow test which produced 13.8 MMscfd through a 120/64” choke for 55 minutes.

“Preliminary gas sample analysis indicates low inert content,” Cue said.

Paus Biru-1 is in the Sampang PSC about 27 kilometres east of the producing Oyong Gas Field.

The well was drilled as an exploration well to a total measured depth of 710 metres and intersected estimated net gas pay of 29m across the primary Mundu Limestone Globigerina reservoir target.

Cue said a plan of development with commercialisation through the existing Oyong facilities will now be prepared for submission to the regulator for approval.

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 company) 45% (operator); Singapore Petroleum Sampang Ltd 40% and Cue Sampang Pty Ltd 15%.

Cue, which formerly was involved in oil and gas production in New Zealand before rationalising its portfolio during the oil price collapse about three years ago, has New Zealand Oil & Gas Ltd (NZX: NZO) as its major shareholder.

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