PSE Circular for Brokers No. 2254-99
PSE Circular for Brokers No. 2254-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 9, 1999
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September 9, 1999 PSE CIRCULAR FOR BROKERS NO. 2254-99 DAILY DRILLING BULLETIN 9 SEPTEMBER 1999 SULTAN SA BARONGIS-2 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-2 well today, 9 September 1999, at 0500 hours. Located in Barangay Kulambog, Sultan sa Barongis, Maguindanao, the Sultan sa Barongis-2 well is programmed to be drilled to a total depth of 1,500 feet (457 meters) using the land rig of the PNOC-EC. The well will appraise the biogenic gas encountered previously by SSB-I well and ten the crest of the structure in the Pleistocene Clastics that has been interpreted to contain recoverable reserves of 68 billion cubic feet of gas. The operator is currently drilling ahead the 12-1/4 inch hole and will set the 9-5/8 inch casing at 300 feet. At present, the vertical appraisal well is at a depth of 40 feet. cdlex The GSEC-73 is operated solely by the PNOC-EC. (SGD.) GRISELDA J. G. BAUSA Director Energy Resource Development Bureau
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