InterOil Corporation advises Wahoo-1 sidetrack operations have not intersected a carbonate reservoir and the company intends to plug and abandon the well.

The wildcat exploration well in PPL 474 was a significant step-out from the successful Elk-Antelope gas hub in PRL 15, 170km to the north-west. Sidetrack operations reached a final measured depth of 1,589 meters (5,213 feet).

InterOil Chief Executive Dr Michael Hession said, 'The well has increased our knowledge in an under-explored area. It has confirmed a working hydrocarbon kitchen, the presence of thermogenic gas and an effective seal in the Orubadi mudstone.'

'Information obtained from the well will assist in evaluating future targets in this frontier area,' added Dr Hession.

Tags: InterOil Corporation