The Lolotoe-1 well is the second well of a two well program in the Timor Sea
contract area JPDA 06-103.
Logging While Drilling (LWD) measurements are being acquired over the Elang/
Plover formations in real time and those LWD logs are currently being
interpreted. The interpretation is expected to be finalised after additional
evaluation logs are run at TD. Minor oil and gas shows have been observed while
drilling, said the company.
Oilex operates JPDA 06-103 with 10% participation interest. Other joint venture partners include Videocon with 25%, GSPC with 25%, Bharat PetroResources with 25%, and Japan Energy E&P with 15% interest.
Pan Pacific Petroleum has recently signed conditional farmin deals with Videocon, Bharat PetroResources and GSPC to acquire a 15% participating interest in JPDA 06-103.
