NuEnergy Gas Limited (ASX:NGY) (“NGY” or “the Company”) is pleased to provide an update on the status of the extension of the Exploration Period for the Muara Enim II Production Sharing Contract (“PSC”) which was initially granted for a period of six years commencing 1 April 2011 to 31 March 2017.
With the expiry of the Exploration Period on 31 March 2017, NGY has received endorsement to continue with the drilling campaign in the PSC from Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (“SKK Migas” or “The Indonesian Oil & Gas Regulator”) beyond the expiry of the Exploration Period. The completion of the drilling campaign will enable NGY to make application for and to secure extension of the Exploration Period.
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