Papua New Guinea

By OGJ editors

HOUSTON, Feb. 22 -- InterOil Corp., Toronto, spudded the Elk-1 exploration well on PPL 238 and is to drill to 10,000 ft to target Miocene Puri fractured limestone and Eocene Mendi limestone.

The well is to penetrate a culmination identified by airborne gravity and confirmed by an August 2005 2D seismic survey of 74 line miles. Puri is expected at 4,000 ft. Elk-1 is the third well in an eight-well, $125 million drilling program.

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