InterOil Corporation

InterOil Corporation

November 14, 2005 09:27 ET

InterOil Corporation Triceratops -1 Drilling Report No. 3 November 14, 2005

TORONTO, ONTARIO--(CCNMatthews - Nov. 14, 2005) - InterOil Corporation (TSX:IOL) (AMEX:IOC):

Triceratops Prospect

Type: Oil / Gas exploration well

Location: PPL 237, Eastern Papuan Basin

144 degrees 48' 52" E; 006 degrees 57' 29" S

Current Status: Drilling ahead at 4,892 feet (1,491
meters) with an 8 1/2 inch drill bit and maintaining
angle to reach target in the top of the Puri
limestone section. Trip gas showed a slight increase
at 4,764 feet (1,452 meters) while drilling the
Orubadi clay. (a) Drilling progress since last report
was 2,342 feet (714 meters).

Past Data: Set 20 inch conductor at 10 feet (3 meters). Set
13 3/8 inch surface casing at 381 feet (116 meters).
Set 9 5/8 inch intermediate casing at 2,539 feet
(774 meters).

((a)note: previous wells drilled in the area have
experienced background and trip gas, however
background or trip gas in no way confirms commercial
accumulations of hydrocarbons reached to date on this
well. The structure must reach a target zone, be
logged then tested and may need further geological,
geophysical and appraisal work before a commercial
confirmation of gas reserves.)

Planned Total
depth: Approximately 7,050 feet (2,150 meters)

Operator: InterOil subsidiary, SPI (210) Limited.

Description: This well is targeting the Puri fractured limestone
reservoir in an adjacent fault block offsetting the
Bwata - 1 discovery well.

InterOil currently has no reserves as defined in Canadian National
Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
("NI 51-101"). Any information contained herein regarding resources
are references to undiscovered resources under NI 51-101, whether
stated or not.

Contact Information

  • InterOil Corporation
    Anesti Dermedgoglou
    Vice President, Investor Relations
    +61 7 4046 4600
    Cairns Qld Australia
    InterOil Corporation
    Investor Relations
    (281) 292-1800
    The Woodlands TX USA