INTEROIL has struck hydrocarbons at its Bobcat 1 well in Papua New Guinea, about 30 kilometres north west of the Elk-Antelope project.

In an announcement, InterOil said the well was tested over an interval of about 320 metres of Kapau limestone, the upper section of the target reservoir, and flowed and flared hydrocarbons at surface.

Seismic mapping, wireline logging and testing results indicate the well is close to the gas-water contact in the transition zone at the field, located on PPL 476.

But InterOil said in an announcement that seismic data recently acquired by the company indicated that the crest of the structure lay “several kilometres” west of the current well location and was several hundred metres higher than the current well depth of 3,207 metres.

Future appraisal will include additional seismic and drilling, InterOil said.

As the first part of the appraisal program, the company now intends to deepen the well in order to appraise reservoir quality.

InterOil holds a 78.1 per cent interest in the well and is operator.