Page 12 - AsianOil Week 26 2022

AsianOil NEWS IN BRIEF AsianOil

planned well, PB-17, which is expected to Comet Ridge – Settlement commenced in the 8 ½” hole. Flow tests
start shortly. were conducted within the lower P2 and P3
Oil from the PB field is sold on a Dated of Mahalo acquisition sections along with mandatory scheduled
Brent price basis with approximately a one to testing for the blow-out-preventor and other
two dollar per barrel discount. Comet Ridge is pleased to advise it has surface equipment. A total of 220m of drilling
CUE ENERGY, July 01, 2022 completed the acquisition of Australia Pacific progress was made during the week.
LNG (APLNG) 30% interest in the Mahalo Gas shows were recorded through the
Yinson-PTSC JV receives gas project (refer to ASX release dated August P1-P3 sections of the well (1,778-2,278
metres). Minor gas flows to surface were
3, 2021). Comet Ridge’s net interest in the
12-month extension of Mahalo Gas Project (Mahalo) has increased recorded following air drilling through the
from 40% to 70%.
P3 formation, indicating that no significant
charter contract for FPSO McCaul said: “The Mahalo gas project is a key fractures were intersected by the vertical well
Comet Ridge managing director Tor
in this lower section. The JV will consider
PTSC Lam Son opportunity to bring an additional source of the opportunity to appraise the P3 formation
for gas charged vertical fractures through a
gas to the Queensland market at a time when
Yinson Holdings, through its joint venture global and Australian energy markets are in horizontal lateral.
company with PetroVietnam Technical need of new sources of reliable gas supply for The PV12 well has two alternate objectives.
Services Corp. (PTSC) and PTSC Asia retail consumers, manufacturing and gas fired The primary deep gas exploration target is
Pacific (PTSC AP), has received a 12-month power generation. the Arumbera Sandstone at an anticipated
extension for the bareboat charter contract for Comet Ridge has significantly increased its depth of 3,560 metres. Alternatively, if the
FPSO PTSC Lam Son. share of Mahalo gas reserves at a critical time. deep exploration target is not successful, a
The extension is part of the addendum We note very strong interest from gas users shallower gas appraisal lateral will be drilled in
entered into by PTSC and PTSC AP on 30 for our equity share of Mahalo gas and we the currently producing P1 formation with the
June 2022, which sets a 12-month firm period can now look to the future with Santos to take potential to become a production well.
from July 1, 2022 to June 30, 2023. Mahalo through development and move into The PV12 well is the first of a 2-well
The value of the bareboat charter contract producing reliable, competitive gas into a tight drilling programme that also includes the
for the 12-month tenure is estimated at east coast market. Dingo-5 exploration / production well. Both
USD18.1 million (RM79.8 million). PTSC AP For our shareholders, we now have access wells are being drilled under joint ventures
is 49% and 51% owned by Yinson and PTSC to a substantially increased gas reserve base, between Central (50% interest), New Zealand
respectively. and a simpler, aligned JV, which creates the Oil & Gas (NZOG) (35% interest) and Cue
Yinson Group chief executive officer Lim opportunity for us to move Mahalo forward Energy Resources (15% interest) and are
Chern Yuan said: “We have forged a close into production.” scheduled to be completed this year.
working relationship with our partners in this COMET RIDGE, June 29, 2022 Leon Devaney, Managing Director and
joint venture when it first commenced back CEO of Central said: “PV12 drilling has been
in 2017. We are delighted with the contract Central Petroleum – Palm difficult to date. As a result, we are behind
extension announcement and the group will schedule and over our original budget. On
continue providing high uptime and excellent Valley 12 drilling update a positive note, the fracturing we have seen
safety record with FPSO PTSC Lam Son.” in the upper Pacoota formation is a positive
YINSON HOLDINGS, July 01, 2022 Central Petroleum advises that as at 0600 technical sign for appraisal through horizontal
hrs ACST on June 27, 2022, the Palm Valley drilling, and once we drill through the P4, we
12 (PV12) well in OL3, Southwest of Alice will be exploring formations that have never
OCEANIA Springs in the Northern Territory was at a before been penetrated at Palm Valley.”
depth of 2,278 metres in the P4 unit of the CENTRAL PETROLEUM, June 28, 2022
Pacoota formation. Underbalanced drilling

P12 www. NEWSBASE .com Week 26 01•July•2022