$RH PetroGas (T13.SG)$ RH Petrogas has released its updates ...

RH Petrogas has released its updates on the drilling of the Piarawi-1 exploration well in the Salawati Production Sharing Contract, Southwest Papua, Indonesia.

The well has since been drilled to a total depth of 11,050 feet as at Mar 2024 and encountered 25 feet of net oil pay in a tighter than expected reservoir within the target Kais carbonate formation.

Francis Chang, CEO and executive director of RH Petrogas T13 0.00% , says, "Once the well is put on production, it would be the first significant increase in production under the Salawati PSC which commenced in 2020."