InterOil Returns to Wahoo

[Tree]

Sixth exploration discovery coming to a well watcher like you.

Did anybody ask DH about Wahoo>

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Funny, the timing of a sovereign management.

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Eoin O'Cinneide 

 10 June 2015 10:08 GMT

InterOil has resumed drilling at the Wahoo prospect in Papua New Guinea where higher-than-expected pressure and gas entering the wellbore halted a probe last summer.

The company has spudded the Wahoo-1 sidetrack exploration well on PPL 474 in Gulf Province, it said on Wednesday.

The new well is a follow-up to the problematic Wahoo-1 probe where progress was suddenly halted by a safety alert last July when InterOil unexpectedly struck gas well above its target zone.

InterOil had begun drilling at Wahoo-1, a multi-trillion-cubic-foot gas prospect, in early March last year. It ended up striking “significant concentrations” of methane, ethane, propane and butane.

“The Wahoo-1 side-track is a significant step-out from existing gas fields and will test whether the successful trends identified around PRL15 extend 170 kilometres to the south-east of Elk-Antelope,” the company said on Wednesday.

Chairman Chris Finlayson also said on Wednesday that InterOil and French supermajor Total are set to kick off front-end engineering and design work on the Elk-Antelope liquefied natural gas project, with a preferred development concept expected by mid-year.

“In 2015, we are scheduled to select a preferred development concept and begin (FEED) for the LNG plant,” Finlayson said.

“The on-going appraisal at Elk-Antelope is increasing our confidence in the resources to support a two-train project. The financing and marketing of the project will also commence this year. We anticipate first gas early in the next decade.”