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Sonoro replaces drilling contractor and rig for Budong Budong appraisal well program
(via TheNewswire) Calgary, Canada / TheNewswire / August 16, 2017 --Following repeated...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro replaces drilling contractor and rig for Budong Budong appraisal well program(via TheNewswire)\n\n \nCalgary, Canada / TheNewswire / August 16, 2017 --Following repeated delays, Sonoro Energy Ltd. (\"Sonoro\" or \"the Company\") (TSX-V: SNV), has replaced the drilling contractor for its LG-1 Up-dip appraisal well program in the Budong Budong Production Sharing Contract (PSC) lease in West Sulawesi, Indonesia.\n\n \n \nThis development follows continued delays in obtaining the necessary final rig certification, and mobilization, well past a deadline of July 24, 2017 that had been stipulated in the contract.\n\n \n \nSonoro has now agreed to the key terms of a contract with PT Advanced Services Indonesia (\"ASI\") to provide a hydraulic drilling and coring rig, with all necessary certifications in place, after reviewing available equipment at ASI's centre of operations in Balikpapan, Indonesia.\n\n \n \nThe revised timing of a new spud date for the LG-1 Up-dip well will be announced once a new schedule is finalized; initial targets indicate the first half of September 2017 to be a reasonable time frame.\n\n \n \n\"We are pleased to have found a well-established company in ASI with a strong track record, a fit-for-purpose drilling and coring rig and operating in Indonesia that is capable of achieving our objectives for the LG-1 Up-dip well. The new rig and its associated equipment have all the necessary certifications in place, allowing us to proceed with confidence in final mobilization plans,\" says Sonoro's Chief Executive Officer and Director Richard Wadsworth.\n\n \n \n\"Without having an SKPI certification from Migas (Indonesia's upstream oil and gas regulator), we would have been exposed to continued delays--and the possibility of failing to meet the requirements of our PSC license,\" adds Mr. Wadsworth.\n\n \n \nOther associated drilling services and equipment for which Sonoro is responsible--including cementing services, mud services, chemicals, well head, casing and other tubulars--arrived last week at the port of Makassar, on the island of Sulawesi, and were transported by road to the LG-1 site.\n\n \n \n\"With the exception of the drilling rig, all other services and equipment are now mobilized, ready for the appraisal program, and prepared to integrate with this new drilling rig,\" says Mr. Wadsworth. \"We have ...