RH Petrogas Limited provide an update on the drilling of the Koi-2 appraisal well ('Koi-2') in the Salawati Kepala Burung PSC ('Island PSC'), Indonesia.
Located in shallow water depth of 32 meters, the well successfully reached its total vertical depth of 1,428 meters on 30 December 2013. During drilling of the Kais limestone, oil shows were observed from cutting samples. As a result, two conventional cores with total length of 50 feet were cut from the well. Both cores encountered oil shows. Logging operation is currently being carried out and production testing will follow if log analysis confirms the presence of hydrocarbon zones.
The Company through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Island B.V. has an aggregate 33.21% working interest in the Island PSC. The Island PSC covers an area of 1,097 km2.