Moose is the first structure drilled in this program, with Sterling Mustang the second, with 14 other targets to follow. However, with work on Moose reaching into its eighth month the timetable for the program may need some revisiting.

So far the Moose exploration well has confirmed structure, seal, reservoir, and the presence of hydrocarbons.

Testing operations have now began confirming the need for artificial lift (pump) to flow the well. InterOil then decided that the fastest and most economic means of determining the Moose structure's potential is to suspend operations on the Moose ST1 and move on to drill and test the Moose-2 exploration/appraisal well. It is anticipated that Moose-2 will spud within the next two weeks.

InterOil is also nearing completion of its 32,500 barrel per day oil refinery in Papua New Guinea. The project is now 84% complete, with engineering 99.5% complete, procurement 100% complete, and construction 70% complete and with pre-commissioning and commissioning works just commencing.

It could be a neck-and-neck race to see who finishes first, the Moose drillers or their construction colleagues. Imagine the ribbing if the refinery is finished and commissioned in less time than it takes to complete the Moose well.