Estimate of InterOil resources increased

Rick Wilkinson
OGJ Correspondent

MELBOURNE, Feb. 18 -- An independent evaluation of Papua New Guinea explorer InterOil Corp.’s Elk and Antelope gas and condensate discoveries in the southern highlands has estimated contingent recoverable gas resources in excess of 8 tcf.

GLJ Petroleum Consultants Ltd. also estimates initial condensate recoverable reserves to be around 156.5 million bbl.

The estimate is dated Dec. 31 and is a 141% increase on field estimates made at the end of 2008, which put gas reserves at around 3.4 tcf and condensate at 59.3 million bbl. GLJ said its analysis did not detect any significant oil leg although there did seem to be a minor, largely immobile oil saturation below the gas column.

InterOil flowed record-breaking amounts of gas during a test program in 2009 when Antelope-2 flowed at 705 MMcfd accompanied by 11,200 b/d of condensate (OGJ Online, Dec. 2, 2009).

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