OIL SEARCH (ASX:OSH | ADR: OISHY | POMSoX: OSH)
5 March 2015
Oil Search operated wells Well Name Well Type Location Spud Date Rig Objective/ targets Status Taza 2
Oil appraisal
Taza PSC, Kurdistan Region of Iraq
10km NW of Taza 1
25 December 2013
Sakson Rig PR3
Appraise hydrocarbon-bearing intervals discovered by Taza 1 (Dhiban/Jeribe and Euphrates/Kirkuk) and explore deeper Tertiary and Cretaceous targets including the Shiranish Formation.
As at 28 February 2015, Taza 2 was at a depth of 4,200 metres* in a 7" hole. During the month, a flow test was carried out on the deepest interval, the Cretaceous, Shiranish Formation. Low rates of oil and water were observed at surface and analysis of the test is ongoing. Preparations
are underway for a second flow test.
1 Oil Search's funding interest is 75%, with the KRG's
20% interest carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.
* All depths quoted are MDRT (Measured depth from rotary table) Oil Search LimitedIncorporated in Papua New Guinea ARBN 055 079 868
Head office Port Moresby Papua New Guinea
Sydney office
1 Bligh Street
Sydney NSW 2000
Australia
Mailing address
GPO Box 2442
Sydney NSW 2001
Australia
Tel: +61 2 8207 8400
Fax: +61 2 8207 8500 www.oilsearch.com
Oil appraisal
Taza PSC, Kurdistan Region of Iraq
6km SE of Taza 1
22 October 2014
Sakson Rig 605
A deviated hole to better define the structural configuration, fluid contacts, reservoir quality and distribution and nature of fracturing of the carbonate reservoirs in the southern part of the PSC.
As at 28 February 2015, Taza 3 was at a depth of 3,724 metres in a 6" hole, having cut an 18 metre core in the Kirkuk Formation. During the month, the 8-1/ " hole was drilled to 3,487 metres and the hole enlarged to 9-1/ ", before setting the
7-5/ " casing. Drilling progress for the
month was 282 metres.
The well will now be drilled to a total depth of approximately 3,900 metres before logging and testing.
1 Oil Search's funding interest is 75%, with the KRG's
20% interest carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.
www.oilsearch.com
2
Gas appraisal
PRL 15, Gulf Province, PNG
1km south of Antelope 2
16 September 2014
Western Drilling Rig 1
Delineate the size and structural extent of the Elk/Antelope gas field.
As at 28 February 2015, Antelope 4 was at a depth of 2,002 metres in an
8-1/ " hole, within the target carbonate
reservoir. Towards the end of the month, drilling operations resumed. Coring operations are now underway, prior to drilling ahead through the reservoir.
InterOil Corporation
1 The PRL 15 participants have voted to appoint
Total E&P PNG Limited as Operator of the PRL
15 Joint Venture. The appointment will take effect in accordance with an operator transition plan and the terms of the Joint Venture Operating Agreement.
2 Gross interests, pre-Government and landowner back-in
www.oilsearch.com
3
Gas appraisal
PRL 15, Gulf Province, PNG
1.7km west of Antelope 2
23 December 2014
Oil Search Rig 103
Delineate the size and structural extent of the Elk/Antelope gas field.
As at 28 February 2015, Antelope 5 was at a depth of 2,453 metres in a 6" hole. During the month, the top reservoir was intersected at 1,534 metres1, a position
that was approximately 50 metres high to Oil Search's prognosis. Drilling progress for the month was 917 metres.
The well has now reached total depth with logging and evaluation programmes in progress. An extended flow test is planned following completion of drilling operations on Antelope 5.
InterOil Corporation
Oil Search | 22.8% |
Total | 40.1% |
InterOil | 36.5% |
Minorities | 0.5% |
Total | 100% |
1 True vertical depth, metres sub-sea, to be confirmed by logs
2 The PRL 15 participants have voted to appoint
Total E&P PNG Limited as Operator of the PRL 15
Joint Venture. The appointment will take effect in accordance with an operator transition plan and the terms of the Joint Venture Operating Agreement.
3 Gross interests, pre-Government and landowner back-in
www.oilsearch.com
4
Gas development/exploration
PDL 1, Hides field, NW Highlands, PNG
3.5km SE of Hides G-pad wells
8 October 2014
Nabors Rig 703
Designed to be completed as a Hides development well and to penetrate the Koi-Iange reservoir (currently mapped
~700m below the Hides Toro/Digimu reservoirs, in a similar structural setting).
As at 28 February 2015, Hides F1 was at a depth of 4,508 metres and drilling ahead in a 6" hole.
During the month, a sidetrack was completed to a depth of 4,009 metres, where a 7" liner was set and cemented, and the well was drilled through the Koi Iange interval. Drilling progress for the month was 546 metres.
The forward plan is to acquire logs over the Koi Iange.
ExxonMobil PNG Limited
PETER BOTTEN, CBE
Managing Director Oil Search - February Drilling Report - 5 March 2015www.oilsearch.com
5
For further information please contact:
Ms Ann Diamant
Group Manager, Investor Relations
Tel: +61 2 8207 8440
Mob: +61 407 483 128
www.oilsearch.com
6
|
distributed by
|
