InterOil has completed
the mobilization of the rig and is currently 'rigging-up' the drilling
rig on the Black Bass Prospect, the company's next exploration target om Papua New Guinea.
Although still subject to wet weather conditions, the well is expected
to be spudded by Friday April 22, 2005. This well will target a reef
limestone which has been identified by a seismic survey, and is
estimated to be approximately 3,937 feet (1,200 meters) deep.
The Black Bass well is the first of the recently announced eight well
drilling program which will extend into 2006.
"Recent heavy rainfalls and other factors beyond our control delayed the
spud date, which was anticipated to be by the end of March 2005. We are
confident that the delay has not affected our overall exploration
program," said Mr Phil Mulacek, CEO of InterOil.