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Interoil Exploration & Production ASA : Colombia drilling program update

The results of the MN-13SH Doima well show an initial production of 100 bopd and 105 boepd, which is above our expectations of 85 bopd. The well was drilled to 3,048 ft and 66 ft of net sands were selected for perforation. GOR was 532 scf/stb, 22 API oil gravity with 0.74 % BSW.



The results of the MN-34 Monserrate well show an initial production of 45 bopd and 79 boepd. The well was drilled to 4,615 ft and 318 ft of net sands were selected for perforation. GOR was 4,219  scf/stb, 24 API oil gravity with 0.78 % BSW.



The results of the MN-12SH Doima well show an initial production of 10 bopd, well below our expectations of 85 bopd. The well was drilled to 2 740 ft and 74 ft of net sands were encountered. GOR was 0 scf/stb,  24° API oil gravity with 0.0% BSW.


As the top three layers of the reservoir were gas bearing, only the lower interval (20 ft) was perforated in order to avoid a depletion of pressure that would have a detrimental effect on the production from neighbouring wells. This explains the disappointing results.


Due to the encountering of gas on the MN-12SH, the last two Doima wells of the campaign have been replaced with two new wells, MNS-12 targeting the Monserate reservoir and MN-17SH targeting the Doima reservoir.


To date, nine wells of the 12-well drilling campaign has been completed.

For more information please contact:

Thomas J. Fjell            

CEO                           

Mob: +47 958 15 300


Erik Sandøy

CFO

Mob: +47 488 94 426

 

www.interoil.no

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Interoil Exploration & Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America. The company is operator of several production and exploration assets in Peru and Colombia. Interoil is headquartered in Oslo.

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Interoil Main Office:
c/o Advokatfirmaet Schjødt AS
Ruseløkkveien 14
NO-0251 Oslo, Norway

Phone: (+47) 67 51 86 50
Fax: (+47) 67 51 86 60
info@interoil.no

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