Lion Energy has announced the spud of Amanah Timur-1 (AMT-1) exploration well located in the North Sumatra Basin.
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The well is currently preparing to set 9 5in / 8in casing at nearly 78m prior to drilling ahead in an 8.5in hole.
The company expects that AMT-1 drilling and its analysis will take around ten days. The drilling will be carried to a total depth of nearly 570 million kilobytes, while the test programme will take another ten days.
Lion Energy CEO Kim Morrison said: “The drilling of Amanah Timur represents a key milestone for Lion. We have led the technical effort on this prospect, which represents a highly attractive opportunity with near-term cash flow potential.”
The Amanah Timur prospect is situated within a productive hydrocarbon zone. The tested well targets the Keutapang sandstone reservoirs.
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By GlobalDataIn near proximity, these reservoirs have delivered more than 600 million barrels of oil (mmbbl), 2.2tcf gas and 50mmbbl condensate.
Gross recoverable prospective resources are estimated to be 2.0mmboe-4.8mmboe-10.7mmboe (P90-P50-P10).
The Amanah Timur-1 exploration well is estimated to cost $1.3m, including provision for up to three production tests.
Several sandstone reservoirs are being targeted, including a shallow objective which had oil production in pre-1930 wells that are in close proximity.
Lion Energy has a 40.7% interest in South Block A PSC, in which the Amanah Timur is located. The remaining 59.3% interest along with operatorship lies with Renco Elang Energy.
Located centrally in the North Sumatra Basin, South Block A PSC is segregated into two different blocks. The Area 1 includes an area of 1,165km², while Area 2 comprises a small offshore portion with an area of 414km².
Around 80 known oil and gas fields are located in the North Sumatra Basin, thereby making it one of the prolific hydrocarbon locations worldwide.
Image: Location of South Block A PSC. Photo courtesy of Lion Energy.
