InterOil Well Disappoints in PNG

摘要

Papua New Guinea (PNG)-focused InterOil said Thursday that a key well expected to provide upside for shareholders in Exxon Mobil's takeover offer for the company has yet to strike gas. The Antelope-7 well, drilled on PNG's PRL 15 license, has reached a depth of 2,127 meters but has not intersected the Antelope reservoir, InterOil said. The depth exceeds operator Total's high-case (1,803.5 meters) and basecase (1,983.5 meters) carbonate targets but it will continue drilling to the planned 2,300 meters.