InterOil Flares Gas, Condensate at Raptor-1 Well in Permit PPL 475 in PNG

InterOil Corporation reported Thursday that gas and condensate have been recorded at surface and directed through the flare at the Raptor-1 exploration well site in permit PPL 475 in Papua New Guinea.

InterOil is continuing to test Raptor-1 and clean up the well.

The Raptor-1 well has been drilled to a measured depth of 13,228 feet (4,032 meters) below the rig rotary table. The flow test is being conducted over an interval of around 1,082 feet (330 meters) of open borehole which includes around 656 feet (200 meters) of Kapau limestone, the target reservoir.

The Raptor-1 well in PPL 475 is about 7.45 miles (12 kilometers) west of InterOil’s multi-trillion cubic feet Elk-Antelope gas field in the Gulf Province in Papua New Guinea.

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.

InterOil will keep the market informed of material developments.

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