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Citic spuds Lofin-2 offshore Indonesia

06th November 2014

Citic Seram Energy, a local subsidiary of Citic Resources, spudded the Lofin-2 well late on 31 October 2014 and has currently drilled to a depth of 153-metres and is preparing to run 30” casing

Citic spuds Lofin-2 offshore Indonesia
The Lofin Prospect is a thrust faulted four-way dip anticline located seven kilometres west of the Oseil Field

“The Lofin structure has potential to be one of the larger discoveries in Eastern Indonesia in recent times,” said Russell Brimage, Lion Energy (PSC partner) chairman.

“The outcome of Lofin-2 is potentially material for Lion and we will closely monitor activities in the next few months as the well approaches the objective section.”

The well is being drilled to appraise the 2012 Lofin-1 discovery which flowed gas and some oil/condensate from the Manusela formation.

The well is anticipated to take approximately 150 days to drill with a planned total depth of 5,425 metres.

The well is operated by Citic Seram Energy (51 per cent) with other co-venturers in the Seram PSC being Kufpec (Indonesia) (30 per cent), Gulf Petroleum Investment Company (16.5 per cent) and Lion Energy 2.5 per cent.

The Lofin Prospect is a thrust faulted four-way dip anticline located seven kilometres west of the Oseil Field.

The prospect is identified on 1990 and 2008 vintage 2D seismic lines and is approximately four kilometres wide and nine kilometres in length. The mapped lowest closing contour is 16,200ft/4,938-metres sub-sea TVD, with an area of 31 square kilometres. The Lofin-1 well encountered a crestal gas column of approximately 525ft/160m, although is interpreted to have entered an oil leg towards the total depth of the well based on the analysis of test data by the operator.

The primary objective is the fractured carbonate of the Jurassic age Manusela formation which is the reservoir in the producing nearby Oseil field. The overlying Jurassic marine Kola shale provides the regional seal with the main source rock is interpreted to be the underlying mature Late Triassic Saman Saman Formation.

Key uncertainties to be addressed by Lofin-2 are the extent of the hydrocarbon column, reservoir quality and the density of fracturing. In addition, while prospective resource numbers shown below are for an oil case below the TD of Lofin-1, there is also the potential that a significant gas column could be encountered in Lofin-2.

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