Ann: Indonesia Operations Update, page-6

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truthinbeer

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06/07/18

11:01

Post #: 34182726
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Originally posted by bevter ↑

If the Iranians close that strait this could double one day easy IMHO
" Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield
services business in Trinidad, provides an update on the operations at the Perlak field, Indonesia.
As previously announced, the operator of the project commenced reopening and workover operations
on the selected wells. Following the reactivation operations on the first well (POG-D), the well produced
145 barrels of high-quality light oil from one of the multiple production zones over intermittent pumping
periods of approximately 117 hours during a two-week timeframe. Further studies and tests are underway
to establish a stable production rate.
The rig was subsequently mobilised to the second well in the work programme (the POG-E well) and
commenced reopening and workover operations on the well. There is a downhole obstruction in the well,
which workover operations are attempting to remove.
As announced on 22 March 2018, the agreed programme for the year comprises reopening of up to ten
existing, previously producing wells; two workovers of previously producing wells (POG-D and POG-E
wells); and geological, geophysical and integrity studies.
The work programme is expected to add up to 200 bopd of production (gross). The produced oil will be
trucked to Pertamina EP Pangkalan Susu field located 153 km away and exclusively sold to Pertamina,
an Indonesian state-owned oil and natural gas corporation.

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Iran could never close the Strait of Hormuz Bevter. It is too heavily protected and Iran would not risk to bring the wrath of the West (and Mid-East) on their head and already fragile economy.
https://www.aljazeera.com/news/2018/07/stake-trading-strait-hormuz-disrupted-180705055824211.html
The Indonesian asset will return well imo and boost company bottom line.

Last edited by truthinbeer: 06/07/18

RRS Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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Ann: Indonesia Operations Update, page-6

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