RH Petrogas to Abandon Karim-1 Exploration Well After Water-Bearing Results; Shares Down Nearly 3%

MT Newswires

2025/12/31

RH Petrogas (SGX:T13) said it will plug and abandon (P&A) the Karim-1 exploration well in Indonesia after drilling results confirmed that the reservoir interval is water-bearing, according to a Tuesday filing with the Singapore Exchange.

Shares of the upstream oil and gas exploration company were down nearly 3% in Wednesday morning trading.

The well, located in the Kepala Burung Production Sharing Contract in Southwest Papua, Indonesia, reached a total depth of 4,293 feet using RH Petrogas' Rig #3.

The total cost of the Karim-1 exploration was around $4.7 million, which will be reflected in the company's financials for the year ending Dec. 31, the filing added.

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