Black Platinum Energy to Drill Gas Wells in East Natuna Offshore Indonesia

Black Platinum Energy (BPE) announced Thursday that it has plans to forge ahead with exploration and appraisal/development activities to prove up its shallow gas plays in East Natuna, offshore Indonesia.

The company plans to drill one exploration well, Paus Hitam-1 in its Sokang Production Sharing Contract (PSC) and one or two appraisal wells in its North Sokang PSC within the next 12-18 months.

Planned Sokang PSC Exploration Activities

One exploration well is planned in early 2017 targeting an unrisked mean exploration prospect, Paus Hitam-1 of P50 878 billion cubic feet (Bcf) in the Lower Pliocene sands at a total depth (TD) of 2,881 feet (878 meters). The Sokang PSC was the site of a three well exploration campaign (Paus S-1, Paus NE-1 & 2) in the early 1970’s which was targeting resources in the Miocene. All three wells penetrated gas columns with no carbon dioxide (CO2) detected in the Upper & Lower Pliocene and were deemed shallow gas hazards at that time, the company said.

The company said it is actively looking for farm-in parties to drill the Paus Hitam-1 exploration prospect but given the recent decline in drilling costs that it would drill the exploration well on its own, if necessary.

Planned North Sokang Appraisal/Development Activities

One or two appraisal wells are planned in mid-2017 on the East Dara gas structure to further test the Upper & Lower Pliocene gas resources and move this gas discovery into a development phase.

The company plans to drill a Dara 5 appraisal well on the West Flank of the East Dara structure targeting the Upper Pliocene sands with a possible second appraisal well, Dara-6 on the high of the East Dara structure targeting the Lower Pliocene sands.

In November 2012, the Company completed two exploration wells on the East Dara structure in its North Sokang PSC. Both wells -- Dara 3 & 4 targeted the Upper Pliocene sands which were plugged and abandoned as gas discoveries.