21-07-08 UK-based Rift Oil has struck 48.5 metres of net gas pay in the Puk Puk-1 well in Papua New Guinea’s Foreland basin.
Rift said the gas pay was logged in good quality Toro, Upper Hedinia and Lower Hedinia sediments over 150 metres below 1820 metres after the well was drilled to total depth of 1,983 metres. It said oil condensates were also recovered from the well and residual oil was logged, suggesting oil may lie lower down in the structure.

Rift said the pay was found 150 metres high to prognosis and was twice as much as found in its previous Douglas-1 well. Rift said it would now remap the structure and flow test the well over the next few weeks.
Rift chairman Ian Gowrie Smith said the find was a “significant step” towards a commercial threshold on its Foreland basin acreage.

He said it brought the company closer to a target of 800 bn cf of recoverable reserves as stipulated under an agreement with aluminium giant Alcan.
He also said it added support a plan to develop the reserves with Flex LNG using a floating liquefaction plant.