InterOil Achieves Good Gas Flow Rate at Elk-4

InterOil Corporation advised that testing has shown an excellent gas flow at the Elk-4 discovery well. After completion of the well, the following results were obtained from flow testing:

  • Gas flow of 63 million standard cubic feet (mmscf) per day, second only in Papua New Guinea to InterOil's Elk-1 discovery well;
  • Estimated condensate rate of 1,130 barrels (bbls) per day;
  • Surface flowing pressure at 2,243 psi;
  • Down hole reservoir pressure of approximately 3,700 psi;
  • High quality condensate of 48 degrees API gravity.

"The Elk-4 well results are strong and build upon the record flow rate established for Papua New Guinea by the Elk-1 well. A flow rate at 63 million scf per day is a great indicator of the deliverability of the reservoir and quality of the new discovery. The well is now being prepared for acid stimulation which we feel will further enhance its productivity," said Phil Mulacek, Chairman and CEO of InterOil.