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***aCe***
14-03-2005, 06:11 PM
OPERATIONS at Napa Napa refinery resumes after a crude oil shipment arrived in Port Moresby last Thursday (March 10, 2005), Inter Oil Corp announced.

The company, said it forcefully suspended its activity on Feb 28 because of the need to undertake urgent repairs at the Kumul terminal[/B][/COLOR].

Inter Oil did the latest shipment and stated it was a replacement for domestic crude oil supplies.

Kumul terminal have been repaired thus normal crude oil shipping operations have begun..

The company recently raised US$125 million for an exploration programme involving the drilling of eight wildcat wells in three prospective license areas not far from Port Moresby.

"Forty prospective structures have been identified by InterOil within these licenses and the well locations will be chosen from 22 leads over independent structures," it said.

InterOil is developing an integrated oil business in Papua New Guinea through its Napa Napa crude oil refinery and an extensive domestic retailing network.
It drilled three unsuccessful exploration wells last year and is confident that its exploration lease areas in Gulf and Central Provinces are highly prospective and will yield future discoveries in its ongoing exploration program.

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