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Austral spuds PNG wildcat



By Upstream staff 

Austral Pacific Energy has spudded a big oil wildcat onshore Papua New Guinea that targets about 150 million barrels of oil.

The Douglas-1 well has a planned total depth of 2000 metre and will test the Jurassic aged Alene, Toro and intra Imburu sandstones.

The prospect covers about 60 square kilometres in a lightly explored area where earlier wells have shown oil and gas.

UK partner Rift Oil will contribute the first $6 million on Douglas-1 in return for a 65% stake in permit PPL235. Operator Austral holds 35%.


Wednesday, 05 April, 2006, 01:17 GMT  | last updated: Wednesday, 05 April, 2006, 01:27 GMT

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