Oil Search Cites Final Logging Operations on Papua's Cobra 1A Well

Oil Search Limited has reported that on July 10, the Cobra 1A well was at its total depth of 3,202 meters and running in hole with a fishing assembly to recover a wireline logging tool. Final logging operations are underway and should be complete in the next few days, at which point a decision will be made on the forward program.

Cobra 1 is located in PPL 190 and lies 13 kilometers east of the SE Gobe oil field and 7 kilometers east of the Bilip oil discovery. The well is targeting the Iagifu Sandstone, which is the principal reservoir in the Gobe
and SE Gobe fields, in a seismically-defined sub-thrust prospect.

Cobra 1 is the first in PNG to target a sub-thrust play as the primary target. The participants in Cobra 1A are
Oil Search Limited with 62.556%, Murray Petroleum Co. with Ltd 26.497% and Cue PNG Oil Company with 10.947%.