Oil Search Limited reports that the NW Paua 1 exploration well is at a depth of 1,293 meters and drilling ahead in a 17-1/2" hole. Progress for the week was 1,190 meters. NW Paua 1 is located in PDL 5, five kilometers northeast of the Moran oil field and six kilometers northwest of Paua 1x.
Paua 1x was drilled on the steeply dipping and faulted fore limb of the Paua anticline in the mid 1990s and encountered oil shows in the Toro Sandstone and recovered oil from the Iagifu Sandstone. NW Paua 1 is targeting the Toro and Digimu sandstones in a more optimal location on the known hanging-wall structure. The planned total depth of the well is 3,377 meters.
The participants in NW Paua 1 are Oil Search Limited with 52.5% interest and ExxonMobil with 47.5%.
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