OREANDA-NEWS. May 19, 2014. CITIC Resources Holdings Limited (“CITIC Resources” or the “Company”) (Stock Code: 1205) announces that another new high – yielding well has been recently developed at its Seram oilfield in Indonesia.

The newly drilled well, Well OS21 (“OS21”), was successfully put into operation with latest daily production exceeding 520 barrels (100% project basis) and a moisture content of less than 2%.

OS21 is the second high-yielding well successfully developed following Well OS26 which began production in late January 2014 with daily production maintaining at around 580 barrels and a moisture content of less than 0.5%.

Production capacity of the Seram oilfield has been significantly lifted with daily production reaching 3,000 barrels subsequent to the successive operation of these two wells.