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Earlier in 2008 Premier Oil declared it had re-evaluated exploration targets in Block 12W in the Nam Con Song Basin and that its 2008 exploration drilling campaign will target reserves in excess of 200 MMboe and includes two wells which it classed as "high impact." The first “high impact well”, Chim Ung 1X 12W-CU-1X and formerly known as the Falcon prospect, was spudded in June 2008 targeting three different objective in the Lower Miocene sandstones section of the "mid" Dua Formation which could contain up to 80 MMboe recoverable oil. Located in 89m of water, Chim Ung 1X was drilled to a total depth of 3,735m, penetrating the target Dua reservoirs and encountering good oil shows. Logs confirm 10m of net oil pay within Upper Dua sandstones and a further 5m of net oil pay in a shallower reservoir. The well was sidetracked to drill the adjacent Chim Boi fault block and encountered oil shows. Neither well may be considered commercial on their own but as they confirm the oil charge potential across the southern part of Block 12W, Premier remains optimistic with regard to further exploration in this and its contiguous Block 7/03 acreage. The well is being plugged and abandoned and the rig will now move to drill the Chim Cong (Peacock) prospect, which Premier has also classed as "high impact" having 250 MMboe of potential reserves. It has a number of objectives, the primary play being a syn-rift play within a high side fault closure, in the basal sand unit and fractured pre-Tertiary Basement. If successful the play would represent a northerly extension of Star’s Pancing 1X (2007) play in the Indonesian sector of the Natuna Sea. The last well to be drilled in the block will be Chim Dau 1X which is a near field exploration of the Dua 1X gas and condensate discovery drilled by Pecten in November 1974 o a total depth of 4,049m in a tilted fault block structure. Current interests in Block 12W are Premier Oil (operator 37.5%), Santos (37.5%) and Delek Energy (25%).
This article is extracted from International Oil Letter, Vol 24 issue 28 dated 14th July 2008.
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