Oil Search Strikes Pay in Hedinia Well

Oil Search reports that as at 0600 PNG time on 15 September, the Hedinia 10 ST2 well was at a total depth of 3,850 metres and undertaking a logging programme to evaluate the Toro sandstone. Drilling progress for the week was 420 metres.

During the week, the well drilled through the Toro sandstone, the primary target, and reached total depth. Elevated gas readings and oil shows were observed and the preliminary log interpretation indicates that an oil column of approximately 20 metres is developed in the upper Toro sandstone.

The forward plan is to complete the acquisition of pressure data and logs, to confirm fluid content in the Toro sandstone. Subject to results, a sidetrack will be drilled to establish the up-dip potential of the Hedinia forelimb.

The participants in Hedinia 10 ST2 are Oil Search (PNG) Limited with 60.05%; Ampolex (PNG Petroleum), Inc. with 11.61%; Merlin Pacific Oil Company Limited with 2.91%; Merlin Petroleum Company with 18.69%; and Petroleum Resources Kutubu Limited with 6.75%
 

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Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
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