OIL SEARCH 
By O I L S E A R C H L I M I T E D
(Incorporated in Papua New Guinea) ARBN - 055 079 868
DRILLING REPORT - 2 January 2014 WELL NAME: Mananda 7, PNG
Oil Search reports that as at 06:00 hours PNG time on 2 January, the
Mananda 7 well was at a depth of 1,921 metres in a 121/4" hole.
Since the last drilling report released on 19 December 2013, drilling progress has been 860 metres. The forward plan is to continue drilling ahead in a 121/4" hole.
Mananda 7 is located in PPL 219 and is designed to appraise the northern extent of the field as well as test for the presence of a potential gas cap and be suspended as a potential future oil producer. The well is targeting the Toro and Digimu sandstones.
The participants in Mananda 7 are:
Oil Search (PNG) Limited | 71.25% |
Nippon Oil Exploration (Niugini) Limited | 20.00% |
Merlin Petroleum Company | 8.75% |
Total | 100% |
1 Bligh Street, Sydney, NSW 2000, Australia. GPO Box 2442, Sydney, NSW 2001, Australia.
Telephone: (61) 2 8207 8400 Facsimile: (61) 2 8207 8500
O I L S E A R C H L I M I T E D
(Incorporated in Papua New Guinea) ARBN - 055 079 868
DRILLING REPORT - 2 January 2014 WELL NAME: Taza 2, Kurdistan Region of Iraq
Oil Search reports that the Taza 2 well, located in the Taza PSC in the Kurdistan Region of Iraq (KRI), spudded on 25 December 2013. As at 06:00 hours KRI time on 1 January 2014, the well was at a depth of 199 metres and preparing to drill ahead in a 24" hole. During the week, the 30" hole was drilled to 199 metres and the 26" casing was set.
Taza 2 is located 10 kilometres north-west of Taza 1 and will appraise the hydrocarbon-bearing intervals discovered by Taza 1 (Dhiban/Jeribe and Euphrates/Kirkuk Formations), as well as explore deeper Tertiary and Cretaceous targets including the Shiranish Formation.
The participants in Taza 2 are:
Oil Search (Iraq) Limited* | 60% |
Total E&P Kurdistan Region of Iraq (Taza) B.V. | 20% |
Kurdistan Regional Government (KRG) | 20% |
Total | 100% |
* Oil Search's funding interest is 75%, with the KRG's 20% interest carried by Oil
Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.
PETER BOTTEN, CBE Managing Director
For further information please contact: Stephanie Chu
Investor Relations Advisor
Tel: +61 2 8207 8542
1 Bligh Street, Sydney, NSW 2000, Australia. GPO Box 2442, Sydney, NSW 2001, Australia.
Telephone: (61) 2 8207 8400 Facsimile: (61) 2 8207 8500
|
distributed by
|
