Horizon Oil advised on 26 September 2013 that a core had been cut in the Tingu-1 exploration well in PRL 21, Western Province, Papua New Guinea and encountered elevated gas readings over the primary target Elevala Sandstone. Since the time of that report the well has been drilled through the secondary target Toro Formation reservoir, where elevated gas readings were also encountered, and into basement at a total depth of 3235m MD, and the first suite of wire line logs, including pressure measurements, run.

The data from logs and pressure measurements confirm that Tingu-1 has penetrated a liquids rich gas column in the upper part of the Elevala Sandstone and has encountered a Gas Water Contact (GWC) in that reservoir, thereby achieving two of the primary objectives of the well; specifically, to prove hydrocarbons in the structure and to define the limits of the accumulation.

Pressures indicate that the hydrocarbon column is similar in nature, with a consistent GWC, to the columns already proven at Elevala-2/2st1 and Elevala-1, located some 9.2 km and 12 km to the southeast of Tingu-1. This indicates that the Tingu and the Elevala accumulations are probably connected through the laterally pervasive Elevala Sandstone reservoir, overall substantially increasing the area of closure and the size of the resource base of the Elevala gas-condensate field and of PRL 21, which also includes the Ketu gas-condensate field.

Tags: Horizon Oil Limited