SINGAPORE and PORT MORESBY, Papua New Guinea, Oct. 21, 2014 /CNW/ --InterOil Corporation (NYSE,
POMSoX: IOC) today provided an update on its exploration drilling
program in Papua New Guinea.
RAPTOR-1, PPL 475
Raptor-1 has intersected 200m of the Kapau Limestone target
zone, with wireline logs indicating
the presence of hydrocarbons.
InterOil now plans to conduct well testing to determine the
hydrocarbon type, column, flow rate and reservoir quality.
Raptor-1 is about 12km west of InterOil's Elk-Antelope gas
field.
InterOil holds a 65.208174% interest in Raptor-1 and is
operator. Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC;
BOVESPA: PREB) has a 12.903226% interest in the well. Minority
interests hold 21.8886%.
BOBCAT-1, PPL 476
Bobcat-1 has successfully drilled through the Orubadi seal
section and into the Kapau Limestone. After running and cementing a
5 inch liner, InterOil is preparing to drill further into the
target zone.
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.
InterOil will keep the market informed of material
developments.
About InterOil Corporation:
InterOil Corporation is an independent oil and gas business
with a primary focus on Papua New
Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields,
Elk-Antelope, in the Gulf Province, and exploration licences
covering about 16,000sqkm. The company employs more than 2000 staff
and contractors. Its main offices are in Singapore and Port
Moresby. InterOil is listed on the New York and Port
Moresby stock exchanges.
Investor
contacts
|
|
Singapore
Michael
Lynn
Senior Vice
President, Investor Relations
Michael.Lynn@InterOil.com
Phone:
+65-6507-0222
David Wu
Vice President,
Investor Relations
David.Wu@InterOil.com
Phone:
+65-6507-0222
|
United
States
Meg
LaSalle
Investor Relations
Coordinator
Meg.LaSalle@InterOil.com
Phone:
+1-281-292-1800
|
Media
contacts
|
|
Singapore
Robert
Millhouse
Vice President,
Corporate Affairs
Robert.Millhouse@InterOil.com
Phone:
+65-6507-0222
|
Australia
John Hurst
Cannings Corporate
Communications
jhurst@cannings.net.au
Phone: +61 418 708
663
|
|
|
Forward Looking Statements
This press release includes "forward-looking statements" as
defined in United States federal
and Canadian securities laws. All statements, other than statements
of historical facts, included in this press release that address
activities, events or developments that InterOil expects, believes
or anticipates will or may occur in the future are forward-looking
statements, including in particular, the expected timing and
results of Raptor-1 and Bobcat-1. These statements are based on our
current beliefs as well as assumptions made by, and information
currently available to us. No assurances can be given however, that
these events will occur. Actual results could differ, and the
difference may be material and adverse to the Company and its
shareholders. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company, which may cause our actual results to
differ materially from those implied or expressed by the
forward-looking statements. Some of these factors include the risk
factors discussed in the Company's filings with the Securities and
Exchange Commission and on SEDAR, including but not limited to
those in the Company's Annual Report for the year ended 31
December 2013 on Form 40-F and its Annual Information Form
for the year ended 31 December 2013.
In particular, there is no established market for natural gas or
gas condensate in Papua New Guinea
and no guarantee that gas or gas condensate from the Elk and
Antelope fields will ultimately be able to be extracted and sold
commercially. Investors are urged to consider closely the
disclosure in the Company's Form 40-F, available from us at
www.interoil.com or from the SEC at www.sec.gov and its Annual
Information Form available on SEDAR at www.sedar.com .
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/exploration-update----raptor-1-bobcat-1-205548385.html
SOURCE InterOil Corporation