Service Contract 63 contains the Baragatan-1A well which was drilled in the second quarter of 2014. During the drilling of the well the primary Pagasa Formation reservoir objective was encountered between 2,534 - 2,654 meters Measured Depth. Preliminary Logging Whilst Drilling (LWD) log data indicated low gas saturations that did not warrant further evaluation or testing.
Two gas-bearing zones of potential interest were encountered in the shallower Pagasa Formation. However, evaluation of available LWD data indicated both of these zones contained low gas saturation that did not warrant further testing.
These results, although not commercially successful, have confirmed the presence of an active petroleum system in this part of the Contract Area of SC 63. The next Sub-Phase of SC 63 (Sub-Phase 3) carries a two well commitment (one firm well, one contingent well) during the period from 24 November 2018 to 24 November 2019.