The trading halt will remain in place until Wednesday, November 6 or when an announcement is released.
() is in a trading halt ahead of an announcement regarding the result of flow testing of Bunian-5 well in the Tangai-Sukananti KSO in Indonesia.
The trading halt will remain in place until the beginning of normal ASX trading on Wednesday, November 6, or when an announcement is made to the market, whichever occurs earliest.
Last month the company announced that it was confident the Bunian-5 well had the potential to double overall oil & gas production from Bunian field in the prolific South Sumatran oil & gas region of Indonesia.
The well intersected the two primary reservoirs, TRM3 and K sandstones, at the same or slightly higher levels than at Bunian 3 ST2, the most prolific well in the field.
Both zones also exhibited oil shows comparable to Bunian 3 ST2 with 5 metres of net oil pay in each zone.
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