InterOil finds gas at well in Gulf

InterOil has tested gas and condensate at its Antelope 2 well in Papua New Guinea.
The company announced on Wednesday that its drill stem test (DST) #1 at its Antelope 2 well at Upper Purari River in Gulf province, tested natural gas at a rate of 14.1 million cubic feet of gas per day with 16.5 barrels of condensate per million cubic feet.
In a company announcement yesterday, chief executive officer Phil Mulacek said the core sampling indicated excellent visual porosity and vugs (small-to-medium-sized cavities inside the core) from the reefal reservoir.
“We believe that the core demonstrates excellent visible porosity and the core sample closely resembles the reservoir quality demonstrated by the flow test at Antelope 1,” Mr Mulacek said.
The company said it would conduct further tests to determine the commercial potential of the gas find.