12:39 PM EST - InterOil Corp. : reported that the second well at its Elk natural gas play in Papua New Guinea points to an increased resource estimate. The reservoir encountered by the onshore well is estimated to be 202 metres thick. InterOil, which has licences covering more than 36,000 square kilometres in Papua New Guinea along with an oil refinery and distribution operations in the Pacific country, said it is suspending the Elk-2 hole and moving the rig to a location 1.6 kilometres south of the Elk-1 discovery well. InterOil Corp.
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