RH Petrogas to Abandon Karim-1 Exploration Well After Water-Bearing Results; Shares Down Nearly 3%
MT Newswires
Dec 31, 2025
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.