InterOil to continue oil exploration drilling at Wahoo

Source:InterOil Corporation

InterOil Corporation (NYSE: IOC; POMSoX: IOC) has resumed drilling at Wahoo with the Wahoo-1 side-track exploration well in Petroleum Prospecting License 474 in the Gulf Province of Papua New Guinea .

Wahoo-1 side-track well is the follow-up to Wahoo-1 which was suspended in July 2014 due to higher-than-expected pressures.

The Wahoo-1 side-track is a significant step-out from existing gas fields and will test whether the successful trends identified around PRL15 extend 170km to the south-east of Elk Antelope.

InterOil holds a 78.1114% interest in the well and is operator. The remaining 21.8886% interest is held by minority interests. InterOil will keep the market informed of material developments.
 

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