SINGAPORE and PORT MORESBY, Papua New Guinea, June 15, 2015 /CNW/ -- InterOil Corporation (NYSE: IOC; POMSoX: IOC) has started drilling the Triceratops-3 appraisal well in Petroleum Retention License 39 in the Gulf Province of Papua New Guinea.
Triceratops-3 targets additional volumes north-west of previous appraisal wells. A potential tie-back candidate to Elk-Antelope, Triceratops-3 is about 5.6 kilometers west-north-west of Triceratops-1 and 35km north-west of Elk-Antelope.
InterOil holds a 69.0931% interest in the well and is operator. Pacific Rubiales Energy Corp. holds a 12.9032% interest in the well with the remaining 18.0037% held by minority interests. InterOil will keep the market informed of material developments.
InterOil Corporation is an independent oil and gas business with a primary focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licences covering about 16,000sqkm. The company employs more than 2,000 staff and contractors. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Forward Looking Statements
This media release includes "forward-looking statements" as defined in United States federal and Canadian securities laws. All statements, other than statements of historical facts, included in this release that address activities, events or developments that InterOil expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on our current beliefs as well as assumptions made by, and information currently available to us. No assurances can be given however, that these events will occur. Actual results could differ, and the difference may be material and adverse to the company and its shareholders. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. Some of these factors include the risk factors discussed in the company's filings with the Securities and Exchange Commission and on SEDAR, including but not limited to those in the company's annual report for the year ended December 31, 2014 on Form 40-F and its Annual Information Form for the year ended December 31, 2014. In particular, there is no established market for natural gas or gas condensate in Papua New Guinea and no guarantee that gas or gas condensate from the Elk and Antelope fields will ultimately be able to be extracted and sold commercially. Investors are urged to consider closely the disclosure in the company's Form 40-F, available from us at www.interoil.com or from the SEC at www.sec.gov and its Annual Information Form available on SEDAR at www.sedar.com.
SOURCE InterOil Corporation