SINGAPORE and PORT MORESBY, Papua New Guinea, Aug. 12, 2015 /PRNewswire/ -- InterOil
Corporation (NYSE:IOC) (POMSoX:IOC) 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.
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 licences
covering about 16,000sqkm. The company employs more than 2,000
staff and contractors. 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 press 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 press release that address
activities, events or developments that InterOil expects, believes
or anticipates will or may occur in the future are forward-looking
statements. 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 a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
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, there is no
established market for natural gas or gas condensate in
Papua New Guinea and no guarantee
that gas or gas condensate from the Elk and Antelope 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 .
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/wahoo-sidetrack-operations-complete-300127412.html
SOURCE InterOil Corporation