Cue Energy Limited announced that oil production well PB-17 in the Mahato Production Sharing Contract (PSC), Indonesia, is producing approximately 800 barrels of oil per day (bopd) after successful drilling and completion. Cue has a 12.5% interest in the Mahato PSC. PB-17 is the 10th production well in the PB field and the second well in the current 14-well drilling campaign announced by Cue on 14 June 2022.

The well was completed in the Bekasap C sands, consistent with other production wells in the field. Total current production from the PB field is approximately 5500 bopd with the inclusion of PB-17. A workover on the PB-03 production well is underway with production expected to resume during August.

Field production is expected to increase as new wells are drilled over the coming year, with 10 production and 2 water injection wells remaining. The drilling rig is currently moving to the next planned well, PB-21, which is expected to start shortly.