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Criterium Energy Announces Positive Preliminary Gas Test Results at North Mengoepeh and Provides Preliminary Q2 Operating Results
Successful initial flow test on the MGH-20 well in North Mengoepeh with an initial rate of 2.5 MM...
About this update from Criterium Energy Ltd
[{"type":"text","content":"Criterium Energy Announces Positive Preliminary Gas Test Results at North Mengoepeh and Provides Preliminary Q2 Operating ResultsSuccessful initial flow test on the MGH-20 well in North Mengoepeh with an initial rate of 2.5 MMcf/d1Re-entry operations at the SEM-1 well in SE-MGH are ongoing in preparation for extended well test in Q3 Decision taken that development of SE-MGH will be via pipeline to the Teluk Rendah Gas PlantAveraged 890 bbl/d2 of production in the second quarter of 2025, up from 821 bbl/d2 in the same quarter of the prior year. Calgary, Alberta--(Newsfile Corp. - July 30, 2025) - Criterium Energy Ltd. (TSXV: CEQ) (\"Criterium\" or the \"Company\"), an independent upstream energy development and production company focused on energizing growth for Southeast Asia today announced a successful preliminary flow test at the North Mengoepeh (\"N-MGH\") gas field, and ongoing preparations to test in Southeast Mengoepeh (\"SE-MGH\"), in addition to providing preliminary operating results for the three-month period ended June 30, 2025.\"We have recently made meaningful forward progress on our gas development program with positive initial results at N-MGH expected to be additive to our gas production volumes in 2026, should we complete a successful test at SE-MGH,\" said Matthew Klukas, President and CEO of Criterium Energy. \"A successful test of SE-MGH will underpin a gas sales agreement and pipeline development that will allow us to achieve first gas in early 2026, which would in-turn support development of other gas assets in due course as we leverage initial successes to fund the next rounds. The positive test at N-MGH suggests the emergence of building gas potential for Criterium that can help grow our production and business over the near-, mid- and longer-term while supporting the strong appetite and market for domestic natural gas in Indonesia.\"Second Quarter 2025 Operating UpdateSuccessful North Mengoepeh production test: MGH-20 tested 2.5 mmcf/d with associated oil1, thus suggesting commercial flow rates from the N-MGH field. MGH-20 had been previously suspended in 2014. The gas resource contained in the N-MGH field, currently not included in the Company's reserve or resource estimates, has the potential to increase total gas production as a near-term follow-up to SE-MGH. SE-MGH gas development remains ...