OIL SEARCH 2 July 2015
* All depths quoted are MDRT (measured depth from rotary table)
Well Name Well Type Location Spud Date Rig Objective/ Targets Status Operator1 Participants2 Antelope 4 ST1
Gas appraisal
PRL 15, Gulf Province, PNG
1km south of Antelope 2
16 September 2014
Western Drilling Rig 1/Rig 103
Delineate the size and structural extent of the Elk/Antelope gas field.
During the month, the Western Drilling 1 rig was demobilised and preparations took place to sidetrack Antelope 4 using Oil Search's Rig 103, which is presently being mobilised to site. The sidetrack is planned to be drilled to a total depth of approximately 2,378 metres. Drilling of the sidetrack is expected to commence during the third quarter of 2015.
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
Oil Search Limited
Incorporated 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
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.
During June, a multi-rate production test of Antelope 5 was concluded successfully. While analysis of the test results continues, the preliminary interpretation is consistent with a substantial resource base and good productivity in the carbonate reservoir.
Additional testing of Antelope 5 is planned as part of the remaining appraisal programme.
Demobilisation of Rig 103 from the Antelope 5 location and its move to Antelope 4 ST1 is now underway.
InterOil Corporation
Oil Search | 22.8% |
Total | 40.1% |
InterOil | 36.5% |
Minorities | 0.5% |
Total | 100% |
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
Oil Search - June Drilling Report - 2 July 2015
www.oilsearch.com
2
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.
During the month, Taza 3 ST1 reached its total depth of 3,800 metres in a 4-1/ " hole and preparations for testing took place. Towards the end of the month, the first of three planned drill stem tests was conducted, over the Kirkuk section. The Kirkuk interval proved tight and failed to
flow. During the test period, pressure declined rapidly and test fluid with only minor traces of oil was recovered. Due to operational issues and the tightness of the interval, the test was terminated.
Preparations have commenced for the remaining two tests, over the Euphrates and Jeribe intervals, which both flowed hydrocarbons in other wells.
Oil Search Limited
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.
Oil Search - June Drilling Report - 2 July 2015
www.oilsearch.com
3
PETER BOTTEN, CBE Managing Director
For further information please contact:
Ms Ann Diamant
Group Manager, Investor Relations
Tel: +61 2 8207 8440
Mob: +61 407 483 128
Oil Search - June Drilling Report - 2 July 2015
www.oilsearch.com
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