InterOil Exploration and Production ASA has completed 3 wells in the Southern part of the Mana Field in Colombia -- Mana-16, 17 and 18. All three wells have encountered hydrocarbons in the Monserrate Formation. Mana -16 initially tested 400 bopd, as previously noted.
Optimization of the well has increased this to 700 bopd, by far the best test result from a single well so far. Mana-18 is currently testing at 530 bopd, while Mana-17 will be tested next week.
Testing of the 3 wells is expected to last some 14 days, whereby they will be put in ordinary production. InterOil working interest in all 3 wells is 70% (State Ecopetrol is 30%).
The Company reported that these results are very encouraging with impact both on reserves and production from the Southern part of the Mana Field. InterOil will extend the rig contract for one additional well in this area, and an extensive drilling campaign is planned for next year.
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