SPT Energy (ASX: 01251) has issued an announcement regarding its subsidiary PT CIPTA NIAGA GEMILANG (CNG) and PIONEER OIL INDONESIA, which are conducting oil and gas exploration, development, and production activities in the Jabung Block (contract area of 8,728.34 square kilometers) in the South Sumatra Basin, Indonesia.

CNG has completed drilling operations on the BET-X exploration well located in the deep slope zone of the Betara Sag within the block. The well was spudded on September 5, 2026, and reached total depth of 9,032 feet on October 1, 2026.

The following key findings were obtained during the main phase: the stratigraphic sequence is complete and consistent with design expectations, with a total of 42 gas logging anomaly to strong anomaly intervals identified, with a total thickness of 560 feet. According to preliminary interpretation of open-hole logging data, multiple potential oil and gas-bearing formations are concentrated and continuously distributed in the Lower Talang Akar Formation sandstone-shale assemblage, which serves as the primary target. The reservoirs have significant thickness, favorable physical properties, high oil saturation, complete gas logging components, and a humidity range of 8.9% to 56.2%. Analysis suggests the coexistence of light oil and natural gas, indicating a large-scale hydrocarbon supply in the region with multiple phases of charging and accumulation. No carbon dioxide or hydrogen sulfide was detected throughout the entire well.

These findings confirm that the Betara area and the surrounding sag and slope zones spanning thousands of square kilometers within the block possess favorable oil and gas resource potential and exploration and development prospects. They will also provide valuable reference for advancing lithological hydrocarbon reservoir exploration and development in onshore basins in Indonesia.

The company is actively and steadily conducting the subsequent testing operations for the BET-X well.