Oil Search Evaluates Cobra 1A ST3 As Gas Condensate Discovery

Oil Search has reported that at on September 11, preparations were underway to suspend Cobra 1A ST3 as a gas condensate discovery.

Since the last drilling report a closed chamber Drill Stem Test (DST) has been successfully completed and gas recovered from the upper Hedinia sandstone. Analysis of the gas indicates it is associated with condensate
and confirms the previously reported elevated gas readings observed while drilling and the presence of light oil/condensate within formation fluid samples.

Petrophysical evaluation indicates a 34 meter thick zone of hydrocarbons is developed within the upper Hedinia sandstone. Up dip potential is confirmed to the NNE by dip meter data and stratigraphic variations observed between Cobra 1A, ST1, ST2 and ST3 indicate the Hedinia sandstone has significant potential to improve both in quality and thickness in the same direction.

Further technical evaluation will be undertaken to determine the optimum strategy for the Cobra 1A ST3 gas discovery. Importantly, this discovery represents the first successful test of the sub-thrust, foot wall, play in PNG
and as such has significant implications for further prospectivity within PPL190 and elsewhere in the Fold Belt.

Cobra 1A ST3 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 participants in Cobra 1A ST3 are:

  • Oil Search Limited 62.556%
  • Murray Petroleum Co. Ltd 26.497%
  • Cue PNG Oil Company 10.947%