PTT Exploration and Production Public Company Limited (PTTEP) has found more natural gas in AC/RL7 block in Australia. The company is confident that the block has high potential and is preparing to drill another appraisal well next year to confirm the preliminary petroleum reserves.

PTTEP President and CEO, Mr. Anon Sirisaengtaksin said that PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AAA, a wholly owned subsidiary of PTTEP) found natural gas from the appraisal well Cash-2 in Cash-Maple field in AC/RL7 block in Australia. The well results are very encouraging and this success inspires confidence in the field’s potential.

The Cash-2 well was drilled to the depth of 4,135 meters on 15 August 2011. Gas flow tests were conducted in two zones at the recorded rates of 28 and 30 million standard cubic feet per day of natural gas with 737 and 663 barrels per day of condensate respectively.

The well results will provide important input for a Preliminary Front End Engineering Design or pre-FEED study for a potential Floating LNG (FLNG) project in the Timor Sea to allow offshore stranded gas resources to be developed.

The AC/RL7 block is in the Timor Sea, located about 700 kilometers west of Darwin, Australia. PTTEP AAA owns 100% interest in this block.