InterOil Updates on Drilling Program in PPLs 475, 476 in Papua New Guinea

InterOil Corporation provided an update Tuesday on its current exploration drilling program at its upstream assets in permits PPL 475 and PPL 476 in Papua New Guinea.

Raptor-1, PPL 475

InterOil is preparing to set 7-inch casing in the Raptor-1 well in PPL 475 in the Gulf Province of Papua New Guinea. The casing point is slightly above the Kapau Limestone target zone, and is in line with the well program.

At this stage, calcimetry, temperature and background hydrocarbon concentrations are similar to those experienced before InterOil entered the Antelope reservoir. The significance of these preliminary indications can be determined only by further drilling and logging.

Raptor-1 is about 7.45 miles (12 kilometers) west of InterOil’s multi-trillion cubic feet Elk-Antelope gas field.

InterOil holds a 65.208174 percent interest in Raptor-1 and is operator. Pacific Rubiales Energy Corp. has a 12.903226 percent interest in the well and minority interests hold 21.8886 percent.

Bobcat-1, PPL 476

The Bobcat-1 well in PPL 476 in Papua New Guinea continues to drill in the Orubadi shale, towards the Kapau Limestone target zone.

Bobcat-1 is about 18.6 miles (30 kilometers) northwest of InterOil’s multi-trillion cubic feet Elk-Antelope gas field.

InterOil holds a 78.1114 percent interest in the well and is operator. The remaining 21.8886 percent interest in the well is held by minority parties.

InterOil will keep the market informed of material developments.


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