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Area Drilling

10/22/2007
Papua New GuineaAustral Pacific Energy Ltd., Wellington, NZ, will appraise the remote Stanley gas-condensate discovery in far western Papua New Guinea.The 1999 discovery well, 170 km west-northwest of the Moran fields and 30 km east of the border with Indonesia’s Papua Province, went to TD 10,600 ft and encountered the Cretaceous Toro formation at 10,300 ft. The untested well cut 35 m of excellent quality Toro reservoir with 13.5 m of gross gas pay interpreted from wireline logs.Austral Pacific operates PRL 4 with 28.92% interest. InterOil Corp. has 43.13%, and Horizon Oil Ltd. has 27.95%. The government extended the license 5 years from August 2005.Austral Pacific plans to shoot 43...
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