InterOil Finds Gas at PNG Well

InterOil Corporation on Thursday said it has found gas at the Bobcat-1 exploration well in PPL476 in Papua New Guinea.

“The well was tested over an interval of about 320 meters of Kapau limestone, the upper section of the target reservoir, and flowed and flared hydrocarbons at surface. Seismic mapping, wireline logging and testing results indicate the well is close to the gas-water contact in the transition zone,” the company said.

The well was drilled to the depth of 3,207 meters.

“Future appraisal will include additional seismic and drilling. As the first part of the appraisal program, the company now intends to deepen the well to appraise reservoir quality,” InterOIl added.

Bobcat-1 is about 30km north-west of Elk-Antelope. InterOil holds a 78.1114% interest in the well and is operator. The remaining 21.8886% interest is held by minority interests.