Australia's Horizon Oil Ltd. reported Friday that the Nama-1 exploration well in PPL 259, Western Province, Papua
Nama-1 is located 12.4 miles (20 kilometers) due east of the Stanley Development, in which all wells found condensate-rich gas in the Late Jurassic Kimu and Early Cretaceous Toro Sandstones.
If successful, the Nama prospect has the potential to be about the same size as the Stanley field (certified at 399 billion cubic feet of gas and 13 million barrels of condensate).
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