The Elk Prospect, with an estimated mean recoverable resource potential of 434 million barrels, is a follow up prospect. Both prospects are in InterOil's previously announced 8-well drilling program in Papua New Guinea with InterOil holding a 100% working interest subject to farmin and Government dilution.
The Sterling Mustang drill site is being prepared with logistical activities underway. Following completion of the Moose-1 drilling program, the purpose built rig will be mobilised to the Sterling Mustang drill site.
InterOil is focused on Papua New Guinea and the surrounding region, and is developing an integrated energy business consisting of an oil refinery, petroleum exploration, and retail assets.
