SPT ENERGY (01251.HK): BET-X Exploration Well in Indonesia's Jabung Tengah Block Reaches Total Depth of 9,032 Feet

NewTimeSpace News: On 7 October 2026, SPT Energy Group Inc. (stock code: 01251) announced that PT CIPTA NIAGA GEMILANG (CNG), a subsidiary of the Company, and PIONEER OIL INDONESIA are conducting oil and gas exploration, development and production activities in the Jabung Tengah Block in the South Sumatra Basin, Indonesia, with a contract area of 8,728.34 square kilometres. CNG has completed the drilling operation of the BET-X risk exploration well in the deep slope zone of the Betara Sag in the block.

The well was spudded on 5 September 2026 and reached a total depth of 9,032 feet on 1 October 2026. A total of 42 gas logging anomaly to strong anomaly intervals were identified, with a total thickness of 560 feet. According to preliminary interpretation of open-hole logging data, multiple potential hydrocarbon-bearing zones are concentrated and continuously distributed in the sandstone-shale assemblage of the lower Talang Akar Formation, the main target zone, with large reservoir thickness, good physical properties and high oil saturation; the gas logging components are complete with a humidity range of 8.9% to 56.2%, and analysis indicates the coexistence of light oil and natural gas, suggesting a large scale of hydrocarbon supply and multi-stage charging and accumulation in the area. No carbon dioxide or hydrogen sulphide was detected in the entire well. The Company said the findings confirm the oil and gas resource potential and exploration and development prospects of the Betara Sag and its surrounding sag and slope areas spanning thousands of square kilometres, and that it is actively and steadily conducting follow-up testing work on the BET-X well.

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