SINGAPORE and PORT MORESBY, Papua
New Guinea, Sept. 18, 2015
/PRNewswire/ -- InterOil Corporation's (NYSE:IOC) (POMSoX:IOC)
Triceratops-3 appraisal well in Petroleum Retention License 39 in
Papua New Guinea has flowed gas at
17.1 million standard cubic feet a day and condensate at an average
of 200.3 barrels a day.
Stabilized flow rates were obtained over several five-hour
intervals and were measured through a 72/64"
choke with the flow constrained by tubing. The well reached a total
depth of 2,090 meters (6,856 feet)
MDRT*.
InterOil Chief Executive Dr Michael
Hession said the result was pleasing and underscored the
region's prospectivity.
"We are excited by the well results and the enhanced development
optionality that Triceratops gas can provide," he said.
Antelope-4 side track
The Antelope-4 side track appraisal well in Petroleum Retention
License 15 has intersected the reservoir 36 meters (118 feet)
higher than the original Antelope-4 penetration.
The well is being prepared for casing before drilling through
the reservoir.
*Measured depth from the rig rotary table
About InterOil
InterOil Corporation is an independent oil and gas business with
a sole 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 licenses
covering about 16,000sqkm. Its main offices are in Singapore and Port
Moresby. InterOil is listed on the New York and Port
Moresby stock exchanges.
Investor Contacts
Singapore
|
Singapore
|
United
States
|
Michael
Lynn
Senior Vice
President
Investor
Relations
|
David Wu
Vice
President
Investor
Relations
|
Cynthia
Black
Investor
Relations
North America
|
T: +65 6507
0222
E:
michael.lynn@interoil.com
|
T: +65 6507
0222
E:
david.wu@interoil.com
|
T: +1 212 653
9778
E:
cynthia.black@interoil.com
|
Media Contacts
Singapore
|
Australia
|
|
Robert
Millhouse
Vice
President
Corporate
Affairs
|
John Hurst
Cannings Corporate
Communications
|
|
T: +65 6507
0222
E:
robert.millhouse@interoil.com
|
T: +61 418 708
663
E:
jhurst@cannings.net.au
|
|
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.
Well test results should be considered as preliminary. The well log
interpretations indicating gas accumulation are not necessarily
indicative of future production or ultimate recovery. There is no
assurance that reserves will be assigned to such fields. 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
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 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 2014 on Form 40-F and its
Annual Information Form for the year ended 31 December 2014. In particular, Papua New Guinea has no established market for
natural gas or gas condensate and we cannot guarantee that gas or
gas condensate from the 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.
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SOURCE InterOil Corporation