InterOil Drills Ahead at PNG Raptor Site

InterOil began drilling Friday at the Raptor-1 site, as part of its $300 million oil and gas exploration campaign in Papua New Guinea. This will be InterOil's third exploration well started in PNG since the beginning of March.

Raptor is about 12 miles (20 kilometers) south-west of Wabo in the Gulf Province. The other two exploration wells begun this month are Bobcat-1, about  north of Raptor-1, and Wahoo-1, which is near the coast about 112 miles (180 kilometers) south-east of Raptor-1.

InterOil expects to drill up to five additional exploration and appraisal wells in PNG in the coming 12-15 months, across almost 4 million acres in the south of the country.

The well will be drilled to a total depth of 2.8 miles (4,500 meters). InterOil will announce results when the well is completed.


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