InterOil Corporation announced that according to information provided by Total E&P PNG Limited (Total), the operator of Petroleum Retention License 15 (PRL15) in the Gulf Province of Papua New Guinea, the Antelope-7 side track appraisal well has currently reached 2,383 meters (7,818 feet) measured depth below rotary table (MDRT) without any evidence of intersecting the Antelope reservoir. The proposed total depth of the Antelope-7 appraisal section of the well was around 2,300 meters (7,545 feet) MDRT. The operator on behalf of the PRL15 joint venture is drilling ahead to explore a deeper exploration target.
InterOil holds a 36.5375% interest in the well. Total E&P PNG Limited has a 40.1275% interest, Oil Search has 22.8350%, and the remaining 0.5000% is held by minority parties.
