Antelope-1 gas strike

InterOil has struck gas at its Antelope-1 well in the Gulf Province.
The top of the subterranean reservoir was intersected at 1,748 metres with gas being encountered at the same depth.
It’s the third gas strike made by InterOil during drilling at its Elk-Antelope prospecting site.
Previous test results from the Elk-1 and Elk-4 sites have shown the existence of a major gas reservoir of “potentially substantial deliverability”.
Rates of up to fifteen million cubic feet per day have been achieved while circulating out gas kicks during drilling operations in the upper section of the structure.
Further testing will be required before the exact size and potential capacity of the Antelope-1 find can be fully assessed and determined.
InterOil President Bill Jasper said the company is “most encouraged” by the initial test results.
“I am extremely pleased with the confirmation of gas and the associated gas flow”.
“It bodes well for the potential of Antelope-1”.
Mr. Jasper said Antelope-1 is currently being evaluated by independent experts.
“Based on what we’ve seen to date, we are hopeful that Antelope-1 (an appraisal well) will eventually go on to become a significant gas discovery”.
“This recent find is in line with our initial expectations of this field”.
It is expected that gas from the Elk-Antelope structures would feed the proposed Liquid Niugini Gas project (of which InterOil is a foundation partner) should it proceed.

For further in formation please contact

Susuve Laumaea

Senior Manager Media Relations InterOil Corporation

Ph: 321 7040

Mobile: + (675) 684 5168

Email: susuve.laumaea@interoil.com