Eaglewood to Spud Korka-1 in PNG

Eaglewood announced that the Korka-1 well is scheduled to spud this weekend. The surface conductor has been set and final preparations are underway to commence drilling.

Korka-1 is located on Petroleum Prospecting License 260, approximately 50 kilometers northwest of the Hides and Angore gas fields in Papua New Guinea. The well is targeting gas in the Toro and Giero sandstones in a seismically defined hanging wall anticline. The well has a planned total depth of approximately 3,000 meters.

Eaglewood holds a 30 percent participating interest in Petroleum Prospecting License 260.