Santos said a closed chamber drill stem test on was conducted in the Iagifu Sandstone reservoir over the interval 2,445- 2,448 metres. During a 22 minute flow period, an estimated stock tank oil volume of 30.5 barrels was produced giving an estimated average flow rate of 2,000 stock tank barrels of oil per day. Oil gravity is 46 API and estimated solution gas/oil ratio is 1200 standard cubic feet per stock tank barrels.
"This is an encouraging result for Santos," said Santos' managing director, John Ellice-Flint. "We will now consider how best to proceed, including appraisal activity, near field oil exploration opportunities and appropriate production options for the discovery."
The well will be cased and suspended as a future oil producer. Bilip-1 is located 10 kilometres southeast of the SE Gobe oil field. Interests in PPL 190 are Santos Group 31.278% - operator, Oil Search 31.278%, Murray Petroleum 26.497%. Cue PNG Oil Company 10.947%.
