InterOil Completes Wahoo-1 Sidetrack Ops in PPL 474 in PNG

InterOil Corporation disclosed Wedensday that the Wahoo-1 sidetrack operations in Petroleum Prospecting License (PPL) 474 in the Gulf Province in Papua New Guinea have not intersected a carbonate reservoir and the company intends to plug and abandon the well.

The wildcat exploration well in PPL 474 was a significant step-out from the successful Elk-Antelope gas hub in PRL 15, 106 miles (170 kilometers) to the north-west. Sidetrack operations reached a final measured depth of 5,213 feet (1,589 meters).

InterOil Chief Executive Dr. Michael Hession said, “The well has increased our knowledge in an under-explored area. It has confirmed a working hydrocarbon kitchen, the presence of thermogenic gas and an effective seal in the Orubadi mudstone.”

“Information obtained from the well will assist in evaluating future targets in this frontier area,” added Dr. Hession.

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