Talisman Spuds Siphon-1 Well in PNG

New Guinea Energy Limited has announced that Talisman Niugini Pty. Ltd. has spud the Siphon-1 exploratory well on a wet gas prospect on PPL 269 in Papua New Guinea.

The Siphon Prospect is a fault-bounded, north-south elongated, basement drape structure, adjacent to and at approximately the same subsurface depth as the Stanley – 1 gas-condensate discovery of Horizon Oil (Papua) and Talisman Niugini, which lies 10km to the southwest in PRL 4.

Siphon – 1 is expected to contain a Toro reservoir similar to that at Stanley – 1.  Onlapping Imburu Fm secondary reservoir targets are anticipated on the flanks of the Siphon structure. The prospect occupies a similar location to Stanley – 1 with respect to charge from the Cecilia and Kau Troughs.

Planned total depth of the well is 3787m. The well is expected to require approximately 57 days to drill.

Kirkland Limited (a wholly owned subsidiary of New Guinea Energy Limited) and Talisman Niugini Pty Limited ( a wholly owned subsidiary of Talisman Energy Inc,) as Operator of the well, each hold a 50% interest in PPL 269.