Black Platinum Energy continued to seek farm-in partners for the North Sokang PSC, located in the East Natuna Sea, as of March 2018. The block includes the Dara (Dara East) gas field, which Black Platinum is planning to further appraise prior to possible development. The company is planning to drill up to two appraisal wells possibly in 2019.   Black Platinum holds 100% operating stake in the block wherein all the firm commitments have been fulfilled. The company looks to finalize a farm-out transaction prior to proceeding with further appraisal activities and moving on to the pre-FEED and FEED stage for Dara.  The planned appraisal wells, Dara 5, will target Upper Pliocene sands in the west flank of the East Dara structure. The second, contingent well, Dara 6, will target Lower Pliocene sandstones on the East Dara structural culmination. The recent released assessment results by LR Senergy has estimated the Dara East structure to contain in place resources of 1,495 Bcfg (P50) and recoverable volumes of 911 Bcfg. A previous assessment in 2015 indicated contingent resources of 734 Bcfg for the discovery.  A major risk associated with exploration in the area is the high percentage of CO2 in the gas, however the shallower reservoirs (above 800 m) have been found to contain low contamination (generally <2% CO2). The bypassed gas play, previously considered a drilling hazard, is regarded by Black Platinum as a new potential source of gas to feed Indonesian domestic market.  According to a Preliminary Plan of Development released by the operator, potential commercial scenarios for future gas production from the Dara field include the domestic market via a Floating LNG (FLNG) facility or a new-build pipeline to Natuna island. Another option being considered was sale to Singapore via the West Natuna Transportation System. Based on preliminary assessment, the operator determined that FLNG would be the optimal solution, supporting production plateau of 110 MMcfg/d for 11 years and total production of 18 years.  The neighbouring Sokang PSC, also operated by Black Platinum, contains potential for additional gas resources, with an estimated 1.6 Tcfg from three top prospects.  The North Sokang PSC was officially awarded on 26 November 2010. Firm commitments for the first three years of exploration included G&G studies (USD 0.70 million), 800 km 2D seismic acquisition (USD 1.5 million) and drilling of one exploration well (USD 8.0 million). The acreage was previously operated by Total, but it was fully relinquished in 2001 due to low gas prices and a lack of infrastructure at the time.  Background Information    On 22 September 1997, the North Sokang block, with an area of 10,260 sq km, was awarded to Total after a period of direct negotiations and upon payment of bonuses of USD 1.25 million. The PSC carried a firm Work Obligation of USD 24.8 million in the first three years and USD 64 million in 10 years. Prior to Total, the block was part of the South Natuna Sea Block B, awarded to Conoco in 1968. Only two wells had been drilled within the block limits at that time, both on its southern margin by Conoco in 1974 and 1975. The first, Antoni 1, was abandoned as a sub-commercial gas discovery but the second, Teri 1, flowed 7.2 MMcf/d. It is believed that the gas in both wells contained a high CO2 ratio.    Total completed a 67 km 2D seismic survey over the block in August 1998 following the completion of an earlier 3D programme in July 1998. On 19 March 2000, Total spudded wildcat Dara 1. Dara 1 was plugged and abandoned as a non-commercial gas discovery (12-88% CO2) on 12 May 2000 after having been drilled to TD at 2,375m, somewhat short of its PTD of 3,036m. Dara 1 intersected some 25.5m of net gas pay, targeting Upper Miocene deltaic sandstones. On 15 May 2000, Total spudded wildcat Dara 2 at a location some 25km west of Dara 1, targeting Pliocene deltaic sandstones. On 17 June 2000, the well was plugged and abandoned, again as a non-commercial gas discovery. The gas encountered is believed to have contained 70-80% CO2.    On 22 September 2001, following an unsuccessful drilling campaign, Total totally relinquished the block.    The North Sokang block was again offered on 20 May 2010 as part of the First Petroleum Bidding Round 2010 under the direct offer mechanism. The newly released block covered an area of 5,466 sq km in shelf waters, with maximum depths of around 130 m.     Further potential exploration targets, in the northern part of the block, are represented by the Miocene Terumbu reefal build-ups and by the deeper clastic sequences of the Gabus and Arang formations.     Prior to the Dara appraisal campaign, a 1,600km 2D seismic survey covering the North Sokang block plus the adjacent Sokang block was conducted from 31 May to 14 June 2012. The survey was shot using the âAquila Explorerâ vessel and this fulfilled the firm 2D seismic acquisition commitments for both blocks. Data was likely used to further mature prospects and leads within both blocks.    Dara exploration history    Dara 1 was plugged and abandoned on 12 May 2000 by Total as a non-commercial gas discovery with 12-88% CO2. About 25.5m of net gas pay was encountered and it targeted Upper Miocene deltaic sands. It was spudded on 19 March 2000 and was drilled to a TD of 2,375m, short of the PTD at 3,036 m.     Dara 2, located 25 km west of Dara 1, was abandoned by Total on 17 June 2000 with non-commercial gas volumes encountered. Gas is believed to have contained 70-80% CO2. The well was spudded on 15 May 2000 and was drilled to a TD of 1,500 targeting Pliocene deltaic sands.    Black Platinumâs first well Dara 3 well was a successful gas appraisal well drilled in the block during 2012. The well was plugged and abandoned in late November 2012. The well intersected 18m of net gas pay and tested 9 MMcfg/d, with 1.9% CO2 and no water, from stacked Upper Pliocene deltaic sandstones of the Muda Formation. Bypassed gas was targeted from these sands, which could have thicknesses of 1 to 10 m each, and Dara 3 has proven the viability of this play, with low CO2, in the area. Dara 3, located within the vicinity of the Dara 1 discovery well, was spudded on or around 31 October 2012 and was drilled to a TD of 970 m, slightly deeper than the PTD of 960 m, using the using the Diamond Offshore âOcean Generalâ S/S. It is the second of two planned appraisal well campaign in the block, immediately following the Dara 4 well.     Dara 4 appraisal well was plugged and abandoned in late October 2012. Net gas pay of 5 m was encountered from the primary Pliocene sand objective but it was likely non-commercial as no DST was conducted. A gas sample with 1.3% CO2 was recovered from one of the Pliocene sand units. The well, located 2.7km southeast of the Dara 2 appraisal and 18km west of the Dara 1 gas discovery, was spudded on or around 11 October 2012 and was drilled to a TD of 770 m. It had a PTD of around 740 m and had similar targets as with the Dara 3 appraisal well. Dara 4 fulfilled the firm one well drilling commitment for the block.    Dara is a large four-way dip structure. The Dara 2 and Dara 4 wells were drilled in the central part of the structure, while Dara 1 and Dara 3 were drilled in the eastern part.    Â   Â   Â 
Black Platinum Energy continued to seek farm-in partners for the North Sokang PSC, located in the East Natuna Sea, as of March 2018. 