Drilling Update reservoir 217 Ft higher

[johnwgrant]

"On November 27th, 2012, InterOil (IOC:$55.13,00$-0.45,00-0.81%) was notified by the Papua New Guinea Department of Petroleum and Energy (DPE) that it had been granted an approval of license variation to PRL 15, allowing the company to defer the drilling of a second commitment well from the first two year work program into the second two year work program. This should allow InterOil (IOC:$55.13,00$-0.45,00-0.81%) to manage service industry cost as we ramp up to a two well drilling program without straining the available resources in PNG."

Does this mean the spudding of Elk-3 (with the new rig) will happen in December - but progress will depend on "shuttling" key personnel and/or service equipment (wireline tools, etc) between the 2 wells (Ant-3 and Elk-3) ?