RH Petrogas

RH Petrogas: Made an oil discovery at its North Klalin-2 appraisal well in Kepala Burun PSC, located at the Sorong area, West Papua. The well encountered 103 ft of total net pay. Recent tests conducted on the well produced a combined rate of 105 barrels per day of oil with 36.3 degrees API and 1.137 MMSCFD (million standard cubic feet per day) of natural gas on a 24/64” choke from two intervals within the Kais Limestone. The discovery at North Klalin-2 marks the first time oil is discovered within the area. The Group has an aggregate 60% working interest in the Kepala Burun PSC. The remaining 30% and 10% stakes belong to PetroChina and PT Pertamina. History (for additional info): The most recent discovery on 7 Mar was at the South East Walio-2 well in Kepala Burun, which tested an average of 100 barrels of oil per day. This hardly resulted in any movements in share price.