KrisEnergy Ltd has discovered gas at the Mustika-1 exploration well, in the Sakti production sharing contract in the East Java Sea, Indonesia, although initial indications suggest the discovery is likely to be below the economic threshold for a commercial find.

Drilled to a total measured depth of 2,768 feet, the well, which is the company’s last for this year, encountered gas in the Tuban and Kujung I formations. Mustika-1 will now be plugged and abandoned and a detailed analysis of the well data and gas samples will be undertaken to review the remaining prospects and leads in the Sakti PSC.

Tags: KrisEnergy Ltd.