The spud date of LKU-1 is now anticipated to be mid-May 2013. International upstream oil and gas exploration and production company Kulczyk Oil Ventures’ ETP-03 drilling rig is currently being rigged up at the Lukut Updip-1 (‘LKU-1’) well-site in preparation for the commencement of the Brunei Block L Phase 2 drilling campaign. The spud date of LKU-1 is now anticipated to be mid-May 2013. AED Southeast Asia (‘AED SEA’), an indirect wholly-owned subsidiary of KOV is operating Block L. LKU-1 well is the first exploration well to be drilled during the Brunei Block L Phase 2 drilling campaign. The well will test the potential of a ‘triple junction’ structure that has formed where the Belait and Jerudong Anticlines intersect the Simbatang Fault. At a true vertical depth of approximately 2,000m, the primary targets are base slope sand deposits of the Middle Miocene age with an anticipated aggregate thickness of up to 250 metres. Overpressure is expected and the company will be using managed pressure drilling techniques for the drilling of LKU-1. KOV has a 90% interest in the Block L, with indirect wholly owned subsidiary Kulczyk Oil Brunei having a 40% interest and indirect wholly owned subsidiary AED SEA having a 50% interest. A private Brunei company owns the remaining 10% interest.
