Interra Resources reported on 11 December 2019 that wildcat Kuala Pambuang 1 (KP-1), in the Kuala Pambuang PSC, located in Central Kalimantan, has reached its total depth at approximately 1,149 m (3,771 ft). Borehole cutting analysis from the well has shown live oil at several zones within the primary reservoir targets, which subsequently confirmed by the electrical wireline logs (EWL). DTS was also conducted at the open hole with live oil samples collected.  The operator plans to complete the well next by installing casing and run casing perforation test at the potential reservoir. Likewise, further analysis is currently performed on the data and oil samples collected.  Wildcat KP-1 was spudded on 7 October 2019. The well has a planned total depth of around 1,100 m. As reported by SKK Migas, Rig Vinct # 02/500 was used for the drilling operation which was estimated to last approximately 26 days.     The target for the well, derived from data analysis and geological modeling conducted in 2017, has been identified in the Berai carbonate reefs, built on an extensive carbonate platform as the main reservoir. Secondary objectives are the clastic sedimentary reservoirs (Warukin Formation), situated above and below the carbonate platform. Interra reported exploration costs for the block of approximately USD 4,500 in Q4 2018.  Reportedly, the block has unrisked prospective resources of 67 MMbbl for low case, 305 MMbbl for mid case and 1,288 MMbbl for high case as per assessment conducted by ERC Equipoise Pte Ltd in January 2019.  The operator likely received technical approval for the well in late 2018, at which time it was in preparation to secure a drilling rig as well as preparing the drilling site. KP-1 is the first of possibly two commitment wells to be drilled in the block.  In Q1 2015, the company completed a 304 km of 2D seismic survey in the block, an initial seismic data interpretation was likewise completed in Q3 2015. The results from the initial study was encouraging and the company decided to proceed with the advanced seismic processing technique, with the aim on finding the reservoir fluid content and the rock properties in the area, which also lead to limiting the possible explorations targets.  The Kuala Pambuang PSC is operated by PT Mentari Pambuang Internasional (MPI) with 100% interest. Interra holds an effective interest of 67.5% in MPI. The company reported in November 2017 to be looking for a farm-in partner, to help with the funding of its exploration well campaign. However, as of Q1 2019, Interra indicated that the drilling and work programme for the year would be funded internally using available cash resources.  Background Information  The Kuala Pambuang block was offered in late September 2011 as part of the Second Petroleum Bidding Round 2011 under the direct offer mechanism. Preliminary award/announcement of winning bidder was made on 7 December 2011.   The block was officially awarded on 19 December 2011 and firm commitments include G&G studies (USD 1.20 million) and 200 km 2D seismic acquisition (USD 3 million). G&G studies were ongoing during 2012.  Goldwater signed a sale and purchase agreement on 3 February 2012 for the acquisition of 49% of the total issued and paid up share capital of PT Mentari Pambuang Internasional (MPI), a limited liability company registered in Indonesia and owned by PT Mentari ABDI Pertiwi. The deal was agreed on a âwilling buyer, willing seller basisâ and it involved cash consideration of USD 312,000 to MPI and a call option for Goldwater to acquire an additional 18.5% interest from MPI which can exercised anytime during the first three-year exploration phase. The deal was completed in February 2012 and the cash payment was funded from Interraâs existing funds on hand.  The main prospective targets in the area, Warukin sandstones and Berai carbonates, had been historically identified by Royal Dutch Shell during pre-World War II exploration activities.
Kuala Pambuang-1 nfw (PT Mentari Pambuang Intern.100%) Commitment well in Kuala Pambuang block, TD=1149m reached, oil noted in several zones and DST'd, 'live oil samples collected'. Plans are to complete by installing casing and testing the potential reservoirs. Targets Warukin, U&L Berai fm's.