InterOil chief Phil Mulacek told the ninth PNG Mining and Investment Conference in Sydney yesterday that Elk-2 would be ready for drilling by January 1, following the successful enhanced flow of 100 million cubic feet per day last week.
He said Elk was a shallow, high-pressure system with high condensate levels that were perfect for a refinery, which would encourage the company’s “mid-stream objectives”.
Appraisal wells are being planned as are further exploration wells targeting “some big structures right next to Elk” and structures on the Antelope prospect that had been pushed back.
InterOil’s near-term plan is to target the oil leg of Elk while building the gas reserves and fast-tracking the LNG project, according to Mulacek.
