Oil Search : Drilling Report - February 2020

Exploration and Appraisal Drilling Update February 2020

(ASX: OSH | ADR: OISHY | PNGX: OSH)

5 March 2020

Well Name Well Type

Location

Spud Date

Rig

Objective/ Target

Status

Operator

Participants1

Mitquq 1/Mitquq 1 ST1

Exploration

Pikka East area, Alaska North Slope

25 December 2019 (Alaska Time)

Nabors 7ES

Cretaceous Brookian Sandstone (Nanushuk) and Alpine C Sandstone.

During the month, the Mitquq 1 exploration well was side-tracked to further appraise the Nanushuk reservoir. The sidetrack, Mitquq 1 ST1, penetrated the Nanushuk, in line with expectations.

The well will be flow tested to determine reservoir deliverability and commercial viability, with preliminary results from the flow test expected in April.

Oil Search (Alaska) LLC

Oil Search (Alaska) LLC	51.0%
Repsol E&P USA, Inc.	49.0%
Total	100.0%

	OSH Dev elopment
	OSH Exploration
	PIKKA
	UNIT
	Mitquq 1
				ALPIN
				C
	Planned
Nanushuk
Processing		MITQUQ
	Facility

A L A S K A

ANCHORAGE

Oil Search Limited

Incorporated in

Papua New Guinea

ARBN 055 079 868

Head office	Sydney office	Mailing address	Tel: [phone]
Port Moresby	1 Bligh Street	GPO Box 2442	Fax: [phone]
Papua New Guinea	Sydney NSW 2000	Sydney NSW 2001	www.oilsearch.com
	Australia	Australia

Well Name	Stirrup 1
Well Type	Exploration
Location	Horseshoe area, Alaska North Slope
Spud Date	27 January 2020 (Alaska Time)
Rig	Doyon Arctic Fox
Objective/	Cretaceous Brookian Sandstone (Nanushuk)
Target
Status	In February, the Stirrup 1 exploration well was
	drilled to a total depth of 1,512 metres (4,960
	feet). The well was cored and logged, with
	casing run and cemented. The well encountered
	an oil column, with evaluation of core and logs
	acquired underway to ascertain the net pay
	interval.

OSH Dev elopment
OSH Exploration ALPINE
Pikka B	Planned
Nanushuk
	Processing
	Facility

Stirrup 1

STIRRUP A L A S K A

A NCHORA GE

HORSESHOE

Preparations to flow test the well have commenced to determine well deliverability and commercial viability, with preliminary results expected in April.

Operator	Oil Search (Alaska) LLC
Participants1
Oil Search (Alaska) LLC	51.0%
		Repsol E&P USA, Inc.	49.0%
		Total	100.0%

Fortunate

All depths quoted are measured depth from rotary table (MDRT).

Oil Search - February Drilling Report - 5 March 2020www.oilsearch.com

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Keiran Wulff, PhD, BASc

Managing Director

For more information regarding this report, please contact:

Investors and International Media:

Ann Diamant

Senior Vice President - Investor Relations

Tel:

[phone]

Mob: [phone]

Investors:

Chris Morbey

Investor Relations Manager

Tel:

[phone]

Mob: [phone]

US Media:

Amy Burnett

Manager, US Media & Communications

Tel:	[phone]
Mob:	[phone]

This ASX announcement was authorised by Oil Search Managing Director, Keiran Wulff.

Oil Search - February Drilling Report - 5 March 2020www.oilsearch.com

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