RH Petrogas is proceeding with its exploration drilling campaign in Indonesia following a dry well. The company recently completed drilling the Karim-1 exploration well in the Kepala Burung production sharing contract (PSC).

Karim-1 Well Results

The Karim-1 well, drilled using the Petrogas Rig-3, reached a total depth of 4,293 feet. The primary target, the Kais limestone reservoir, was water-bearing and did not discover oil. The secondary Klaili limestone target did show trace to moderate oil indications. Despite the disappointing outcome, the data collected will be used to refine the understanding of the area's potential and support future exploration evaluation in the Arar region.

Next Drilling Steps

The company is now moving the drilling rig to prepare for the next exploration well, Northwest Klagagi-1, with drilling expected to commence in the coming weeks.

Operational Context

RH Petrogas is the operator and holds a 70% interest in the Kepala Burung PSC, with Pertamina holding the remaining 30%. The current PSC commenced in October 2020 with a 20-year term. The company operates exclusively in Indonesia, where its net production from the Kepala Burung and neighboring Salawati blocks averaged 4,910 barrels of oil equivalent per day in 2024.