Oil Search : Drilling Report for July 2018

Exploration and Appraisal Drilling Update - July 2018

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

2 August 2018

Well Name

Well Type

Location

Barikewa 3

Appraisal

PRL 9, Forelands, PNG

Spud Date

25 June 2018

Rig

HAES Rig 103

Objective/ Targets

Cretaceous Toro Sandstone and deeper Jurassic Hedinia Sandstone.

The objective of Barikewa 3 is to constrain the resource in the field and assist in selecting the optimal commercialisation pathway. The Barikewa 3 appraisal well follows the successful Kimu 2 appraisal well (PRL 8, Forelands), which reached total depth in late May 2018 and proved up an extension of the Kimu gas reservoir.

Status

Barikewa 3 reached total depth of 1,943 metres on 15 July 2018.

The well successfully encountered gas in the target Toro and Hedinia Sandstone reservoirs at depths in line with pre-drill expectations. Both reservoirs were well developed, with the Toro reservoir better than expected in terms of both thickness and reservoir quality. Preparations are underway to perform a Drill Stem Test (DST) over the Toro interval.

The forward plan is to complete the DST before plugging and abandoning the well, as planned. Evaluation of the well data acquired will be used to help assess options for the potential commercialisation of the Barikewa field.

Oil Search Limited

Incorporated in

Papua New Guinea ARBN 055 079 868

Head office

Port Moresby Papua New Guinea

Sydney office

1 Bligh Street Sydney NSW 2000 Australia

Mailing address

GPO Box 2442 Sydney NSW 2001 Australia

Tel: [phone] Fax: [phone]www.oilsearch.com

Operator	Oil Search
Participants
	Oil Search (PNG) Limited	45.1%
Barracuda Limited	40.0%
NPCP Oil Company Pty Limited	14.9%
Total	100.0%

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

PETER BOTTEN, CBE

Managing Director

For further information, please contact:Stephanie Chu

Investor Relations Manager

Tel: Mob:

[phone] [phone]

Oil Search - July Drilling Report - 2 August 2018www.oilsearch.com

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