Address
Suite 2, Level 2
Orchid Plaza 79-88 Abbott St
Cairns, Queensland 4870
http://www.interoil.com
Telephone
+61 (7) 4046 4600
Fax
+61 (7) 4031 4565
Description
Exploration and Production
InterOil is one of the largest holders of exploration licenses in Papua New Guinea with an extensive asset portfolio consisting of approximately 8 million acres. Most of these licenses are located in close proximity to the refinery and are onshore. The economic field size for an oilfield in the Eastern Papuan Basin where most of InterOil's exploration licenses are located (PPL 236, PPL 237, PPL 238) is estimated to be 5 million barrels compared to the 100 million barrels economic field size required in the Fold Belt. All prospects identified in the multi well drilling program are onshore and located in moderate terrain that would allow for an oil discovery to be barged or trucked to the refinery. Due to these logistical advantages the time-line between discovery to production and hence cash flow will be shortened.
Executives within the Company have an extensive background and a proven track record in exploration and production in both PNG and North America.