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PROJECT UPDATE: PT. IEV PABUARAN KSO SPUDS AND RECORDS HYDROCARBON PRESENCE IN THE FIRST DEVELOPMENT WELL, CLS-1TW

Further to its announcement in December 2014, IEV has announced that hydrocarbon bearing intervals have been identified in the Parigi and Upper Cibulakan Formations in the CLS-1TW development well in Cilamaya Structure, onshore West Java.

The CLS-1TW well has been successfully drilled to total depth of 2,117 metres measured depth. Hydrocarbon bearing intervals have been identified based on results from mud logs during drilling and a preliminary interpretation of a full suite of electric wireline logs. Several depth intervals have been identified for production testing.