InterOil strikes in PNG - Printable Version

Canada’s InterOil has hit hydrocarbons at the Raptor-1 well in PPL475 as part of its US$300 million drilling programme in Papua New Guinea.

The company intersected 200 metres of Kapau limestone during drilling, with wireline logs indicating the presence of hydrocarbons.

InterOil will now carry out well testing to shore up the hydrocarbon type, column, flow rate and reservoir quality.

This is just one well in a trio of wildcats designed to test what the company sees as enormous remaining potential in the area ahead of a planned liquefied natural gas development.

Raptor-1 is about 12 kilometres west of InterOil’s Elk-Antelope gas field.

InterOil is the operator of the well and holds a 65.2% interest, while Pacific Rubiales Energy holds a 12.9% interest, with other minority interest holders making up the remaining 21.8%.

The company’s Bobcat-1 well in PPL476 was successfully drilled through the Orubadi seal section and into the Kapau limestone.

InterOil is now preparing to drill further into the target zone.

InterOil holds a 78.1% interest in the well and is operator. The remaining 21.8% interest is held by minority interests.

How many understand 656 feet equals 200 meters . Is 656 larger than 30 feet . .Is it all hydrocarbons etc?? Much to learn!! Per Laurie Brown Antelope is not alone !! Is Raptor another E/A ??? Totally unknown today . Will this result in a substantial find?? If so this gas if it's gas could be sold to Exxon and Hession collects $500 million . Who would not be excited about a $500 million check ? Would he buy stock with part of the that payday???Hope so!

Palm- what's a full piece PNG orchestra look like ???Are the girls topless?? Do they have moonshine on PNG??What kind of party do we get with all of them together? Just a thought!

Hession better not EVER receive a 500 million check unless he is receiving it on behalf of IOC. Maybe a $500,000 check as a bonus for incentives met. Yes, he should most definitely use some of his bonus money to buy stock in IOC. It is ridiculous that he has not purchased any in the 11/2 yrs he has been at the helm.