SINGAPORE and PORT MORESBY, Papua New Guinea, Feb. 16, 2015 /CNW/ -- InterOil Corporation
(NYSE: IOC; POMSoX: IOC) advises the Antelope-5 appraisal well in
Petroleum Retention License 15, in the Gulf Province of
Papua New Guinea, has intersected
the top reservoir at 1,534m(1) at a position that was 230m
higher than the operator's reference case.
Casing has been set and the plan is to drill ahead to evaluate
the reservoir at Antelope-5. After reaching total depth it is
planned to conduct an extended well test at Antelope-5 with
pressure gauges monitoring pressure drawdown in other appraisal
wells. This type of test gives a better idea of reservoir
connectivity and productivity.
Antelope-5 is about 1.8 kilometers from Antelope-3 and is
appraising the western extent of the Elk-Antelope field.
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(1) true vertical
depth, meters sub-sea, to be confirmed by logs
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About InterOil
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 2,000
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
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Singapore
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Singapore
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United
States
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Michael
Lynn
Senior Vice
President
Investor
Relations
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David Wu
Vice
President
Investor
Relations
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Cynthia
Black
Investor
Relations
North
America
|
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T: +65 6507
0222
E:
michael.lynn@interoil.com
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T: +65 6507
0222
E:
david.wu@interoil.com
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T: +1 212 653
9778
E:
cynthia.black@interoil.com
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Media Contacts
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Singapore
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Australia
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Robert
Millhouse
Vice
President
Corporate
Affairs
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John Hurst
Cannings Corporate
Communications
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T: +65 6507
0222
E:
robert.millhouse@interoil.com
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T: +61 418 708
663
E:
jhurst@cannings.net.au
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Forward Looking Statements
This media 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 release that address
activities, events or developments that InterOil expects, believes
or anticipates will or may occur are forward-looking statements.
These statements, which include statements as to planning for or
the timing of the proposed LNG project and future exploration, 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 several
assumptions, risks and uncertainties, many of which are beyond the
company's control, which may cause our actual results to differ
materially from those implied or expressed by the forward-looking
statements. Some of these factors include risks 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, Papua New Guinea has
no established market for natural gas or gas condensate and the
company can make no guarantee that gas or gas condensate from the
Elk-Antelope field 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/antelope-5-intersects-top-reservoir-higher-than-predicted-300036308.html
SOURCE InterOil Corporation