PTTEP reported in mid-May 2019 that it has increased its operating interest in block MOGE-3, located in onshore Central Burma Basin, from 75% to 77.5%. Local partner Win Precious Resources has consequently reduced its stakes from 5% to 2.5%. The other partners, MOECO and Palang Sophon, retained 10% participating interest each, with no change.  The transaction was approved by the Myanmar government on 28 February 2019.  PTTEP is conducting a four-well exploration drilling campaign in the block. As of April 2019, the first two wells (Aung Myay 1 and Aung Pyaeshan 1) had been completed and the third (Aung Chan Thar 1) was being drilled. The campaign is expected to be completed around Q3 2019. The wells are likely targeting deeper sandstone reservoirs from Lower Oligocene to Lower Miocene, which have not been the focus of previous exploration in the block.  The MOGE-3 block was awarded in August 2014 as part of Myanmar onshore bid round 2013. The exploration period for the PSC officially commenced in August 2015, after completion of the initial study period. The three-year exploration period has received a two-year extension from August 2018 to August 2020. The extension will give the operator additional time to complete the drilling programme and subsequent evaluations.  Background Information  The MOGE-3 PSC was previously awarded to Exspan Myanmar Inc, a wholly owned subsidiary Indonesian P.T. Medco Energi Corp, as operator and 100% holding on 14 July 1997 (together with blocks EP-1 and RSF-5). Prior to acquiring seismic in MOGE-3, Exspan conducted an initial study on the blocks, which ended on 30 March 1998, representing part of commitments of the first one-year exploration phase. Exspan relinquished EP-1 at the end of the study period, on 30 March 1998, but retained MOGE-3 and RSF-5. A total of 175km of 2D seismic was acquired by Exspan in the block. In May 1999, Expan acquired some 175km (out of planned 180km) of 2D seismic in block MOGE-3, which later was used for picking Mindon-1 well location.  Between March and September 2000, Exspan completed operation Mindon 1 (TD at 1,972m, cost of USD 4 million) in block MOGE-3 using Expan's own drilling rig, "Medco No 3" from Indonesia. The well is located on the north-western plunge of the Natmi structure, six km north-west of the Pyaye gas field, on the south-western corner of MOGE-3. The well was targeting Miocene sandstones on a structure with 153 Bcf of potential reserves. Three gas wells have been drilled in the area: Natmi 1 (MOC 1972, P & A gas, TD 2,273m), Natmi 2 (MOC 1973, P & A gas, TD 2,743m) and Natmi 3 (MOC 1974, P & A gas, TD 1,737m). Mindon-1 well encountered gas but failed to flow on test from four separate intervals between 1,036m to 1,310m. Exspan had identified one untested prospects, the Pun Shi Prospect. It is a dip and fault-closed prospect in the Oligocene intra-Padaung Formation in the north-western part of MOGE-3, with mean potential resources of between 8-18 MMbo.
PTTEP reported in mid-May 2019 that it has increased its operating interest in block MOGE-3, located in onshore Central Burma Basin, from 75% to 77.5%. Local partner Win Precious Resources has consequently reduced its stakes from 5% to 2.5%. The other partners, MOECO and Palang Sophon, retained 10% participating interest each, with no change. 