InterOil Corp. (IOC) Notified by Total that Antelope-7 Drilling has Commenced

November 2, 2016 8:09 AM EDT

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InterOil Corporation (NYSE: IOC) has been advised by Total E&P PNG Limited, operator of Petroleum Retention License 15 in the Gulf Province of Papua New Guinea, that it has begun drilling the Antelope-7 appraisal well.

The well is designed to provide structural control and reservoir definition on the field's western flank. It has a proposed total depth of around 2,300 meters (7,545 feet) true vertical depth below rotary table and is located about 1.45 km west-south-west of Antelope-5.

InterOil holds a 36.5375% interest in the well. Total E&P PNG Limited has a 40.1275% interest, Oil Search has 22.8350%, and the remaining 0.5000% is held by minority parties.



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