InterOil confirms productive reservoir in PNG

12/11/2012

InterOil confirms productive reservoir in PNG

PORT MORESBY, Papua New Guinea -- InterOil announced that drill stem test (DST) #1 in the Antelope-3 well in Papua New Guinea, tested natural gas and condensate with a maximum gas rate of 44.8 MMcfd with a flowing tubing pressure of 2,331 psi.

The Antelope-3 well was drilled conventionally from 5,321.8 ft with cumulative down hole drilling losses of 647 barrels until at 5,817 ft when there was a total loss of circulation. The well was then drilled with managed pressure to 5,905.8 ft the current depth.

At 5,905.8 ft, the reservoir is comprised of limestone and minor dolomite similar to the upper limestone reservoir observed in the uppermost Antelope-2 well. The well flowed at a maximum rate of 44.8 MMcfd through a 64/64-in. choke. The analysed gas composition is similar to Antleope-1 and Antelope-2.

The test was conducted through drill pipe and the gas flow rate was significantly limited by the downhole DST equipment and the surface separation package.

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