InterOil Spuds Bobcat-1 Well in PPL238 in Gulf Province of PNG

InterOil Corporation announced Wednesday that following the approval of the drilling plan by the Papua New Guinea
Department of Petroleum and Energy it has started drilling its Bobcat-1 exploration well in Petroleum Prospecting Licence (PPL) 238 in the Gulf Province of Papua New Guinea.

Bobcat-1 is an exploration well designed to assess the hydrocarbon potential of the carbonates within the Bobcat structure and gather data on shallow marine carbonate reservoir presence, quality and preliminary hydrocarbon volumes.

The well will be drilled vertically to a total depth of 10,282 feet (3,134 meters). The well is expected to take approximately 90 days to drill, log and test, contingent on drilling conditions.

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