PSE Circular for Brokers No. 1978-99
PSE Circular for Brokers No. 1978-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 10, 1999
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August 10, 1999 PSE CIRCULAR FOR BROKERS NO. 1978-99 DAILY DRILLING BULLETIN 9 AUGUST 1999 SULTAN SA BARONGIS-1 WELL (Cotabato Basin) The Philippine National Oil Company-Exploration Corporation (PNOC-EC), operator of Geophysical Survey and Exploration Contract (GSEC) No. 73, spudded the Sultan sa Barongis-1 well last Friday, 6 August 1999 at 2000 hours. Located in Barangay Tukanakuden, Sultan sa Barongis, Maguindanao, the Sultan sa Barongis-1 well is programmed to be drilled to a total depth of 2,100 feet (640 meters) using the land rig of the PNOC-EC. Sultan sa Barongis-1 well will test a prospect in the Pleistocene Clastics that has been interpreted to contain recoverable reserves of 68 billion cubic feet of gas. cdpr The operator has set the 13-3/8 inch conductor pipe and the 9-5/8 inch casing at 10 feet and 300 feet, respectively, and is now rigging up the blow-out preventer on top of the 9-5/8 inch casing. Presently, the vertical exploration well is at a depth of 300 feet. The GSEC-73 consortium is composed of Philippine National Oil Company-Exploration Corporation (87.50%), the operator, and Petrofields Corporation (12.50%). (SGD.) GRISELDA J. G. BAUSA Director Energy Resource Development Bureau
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