InterOil Corporation has successfully logged 2,005 feet (611 meters) of the reservoir in the Antelope Reef structure. The drilling and logs to date are demonstrating what is apparently the largest vertical section of continuous reservoir of gas and gas liquids discovered to date in Papua New Guinea.

Highlights from the Antelope 1 well to date include: • Wireline logs and third party evaluation have demonstrated the existence of a gas and gas liquids column over the entire logged vertical interval of 2,005 feet (611 meters), from 5,728 feet (1,746 meters) to 7,737 feet (2,358 meters); • Confirmation of the reefal structure with dolomite and limestone over the total reservoir section; • The cumulative net or productive reservoir exceeds 1,800 feet (550 meters) giving a net to gross ratio of over 90%; • Porosity averaging over 8.4% across the entire logged interval, with some sections exceeding 20%; • The net reservoir is over 10 times the thickness intersected in Elk-4.

The forward program for the well is to continue coring, and drilling the lower reservoir below 7,776 feet (2,370 meters) to evaluate the heavy condensate seen at Elk-4. This will be followed by drill stem tests on the lower and upper sections of the reservoir. Final wire line logs will then be completed before full flow tests are performed.

“The results are far better than expected confirming the reef with in excess of 1,800 feet of net reservoir, which has demonstrated exceptional porosity and permeability. The well logs reflected the largest vertical section of net reservoir I have seen in my career,” said Mr. Phil Mulacek, Chief Executive Officer.

Tags: InterOil Corporation