InterOil Begins Seismic & Gravity Acquisition Program in PNG

InterOil has commenced a seismic and gravity acquisition program in its exploration acreage located in Petroleum Prospecting License (PPL) 238, in the Eastern Papuan Basin in PNG.

This activity follows the drilling on the Moose-1 exploration well and the Moose-2 appraisal well where oil shows were found in the limestone section of both wells. The seismic and gravity acquisition program will extend across the Moose and Elk structures and link to existing seismic data on the Puri structure where the Puri-1 well flowed 1,610 bopd.

The data obtained will be used to provide a better understanding of the geological sequence of the Eastern Papuan Basin as well as providing information on depths and optimal locations for future Moose and Elk drilling.

"We demonstrated earlier this year that good quality data can be obtained in our license area. This seismic line, together with the data obtained from the drilling on the Moose structure, will help us assess the potential of the Moose and Elk structures and improve our understanding of the geology within our exploration acreage," said Mr. Phil Mulacek, CEO of InterOil.