NW PALAWAN OIL STRIKE MAY BE 100 MILLION BBL

Petrocorp Exploration Ltd.'s discovery off Philippines may hold oil reserves of more than 100 million bbl. Petrocorp, a unit of Fletcher Challenge Ltd., Wellington, N.Z., disclosed the 3,100 b/d 1B Calauit strike off Northwest Palawan Island in March (OGJ, Mar. 25, p. 60). The company plans a second well on the adjacent Busuanga structure on its GSEC 49 acreage in November after the end of the typhoon season. Preparations to drill a possible third well immediately thereafter also were

Jul 15th, 1991
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