PTTEP Australasia Pty Ltd or PTTEP AAA, a 100% owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), the operator of Cash-Maple field (Permit AC/RL7) located in the Timor Sea of Australia reported the successful drilling results of the appraisal well, Cash-2.

The well was drilled to a total depth of 4,135 metres on August 15, 2011. The flow rate testing was conducted in two zones. The 1st zone indicates flow rate of approximately 28 million standard cubic feet of natural gas per day (MMSCFD) and 737 barrel of condensate per day (BCPD). The 2nd zone indicates the flow rate of 30 MMSCFD and 663 BCPD.

The well results will provide important input for pre-FEED (Preliminary Front End Engineering Design) studies for a potential Floating LNG (FLNG) project in the Timor Sea to allow offshore stranded gas resources to be developed. An additional appraisal well is planned to drill in 2012 to affirm reserves in the area and justify the project's economic viability.

Tags: PTTEP