InterOil is preparing to set seven-inch casing in the Raptor-1 well in PPL 475 in the Gulf Province of Papua New Guinea. The casing point is slightly above the Kapau Limestone target zone, and is in line with the well program.

At this stage, calcimetry, temperature and background hydrocarbon concentrations are similar to those experienced before InterOil entered the Antelope reservoir. The significance of these preliminary indications can be determined only by further drilling and logging.

Raptor-1 is about 12km west of InterOil's multi-trillion cubic feet Elk-Antelope gas field.

Tags: InterOil Corporation