New Guinea Energy Makes Discovery in Siphon-1

New Guinea Energy and its joint venture partner Talisman Energy announced on Monday that the duo have made a hydrocarbons find in the Siphon-1 exploration well in the Forelands basin in western Papua New Guinea.

Preliminary logging results revealed existence of an 11-metre gross hydrocarbon interval in the primary Toro reservoir target, in addition to another unexpected 12-metre gross column in the overlying Elevala sand.

The company, which is awaiting a detailed wireline logging to interpret the significance of the hydrocarbon indications, is expected to come out with results once they are available.

Siphon-1 is located in Block PPL 269 with Talisman and New Guinea Energy owning 50% each while the former is the operator.