Anson North-1 Well to Be Plugged and Abandoned

Indo-Pacific Energy Ltd. reports that the Anson North-1 well in permit AC/P 26, offshore West Australia, is to be plugged and abandoned. Indo-Pacific's costs were carried by Anadarko Petroleum Corporation throughout the project.

Target Depth of 6,500 feet was reached today and electric logs will be run. Interpretation has shown that the objective section was intersected about 270 feet below the prediction of 5,300 feet, but there are no hydrocarbon shows.

The next well to be drilled by the company is Huinga-1A in onshore Taranaki permit 38716 in New Zealand. This well will be spudded in about 5 weeks when the rig is available after drilling the Makino-1 well for another consortium.

This will be followed by the drilling of Waingaromia-2 in PEP 38330, onshore East Cape, New Zealand.