InterOil CEO Dr. Michael Hession

Singapore-based independent InterOil said Monday its onshore Antelope-5 appraisal well found a reservoir in Papua New Guinea’s Gulf Province.

The well, located in petroleum retention license 15, intersected the top reservoir at 5,032 feet at a position that was 755 feet higher than operator Total’s reference case.

Casing has been set and InterOil is now planning to drill ahead to evaluate the reservoir.

After the well reaches its total depth InterOil will conduct an extended well test at Antelope-5 with pressure gauges monitoring pressure draw down in other appraisal wells.

The tests are expected to give a better idea of reservoir connectivity and productivity, Interoil said.

Antelope-5 is about 1.1 miles from Antelope-3 and is appraising the western extent of the Elk-Antelope field.

Last week, Interoil won preemptive rights in the Elk-Antelope gas field after a dispute with Papua New Guinea-based Oil Search Ltd.

France’s Total holds a 40.1 percent stake in the license. InterOil holds a 35.5 percent stake and Oil Search holds a 22.8 percent stake.


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