EXPLORATION

High hopes at Elevala

HORIZON Oil has spudded the Elevala-2 appraisal well in Papua New Guinea's Western Province – the long-awaited follow-up to the Elevala-1 well drilled in 1990, which flowed 11.9 million cubic feet of gas and 634 barrels of 54-degree API condensate per day.

Blair Price

Horizon shares Elevala-2 with Talisman Energy. The well was spudded this week and was at 62m of its planned depth of 3500m yesterday afternoon. Horizon aims to penetrate the Elevala sandstone and...

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