APA Corporation Update for Block 53

APA Corporation (APA) today presented the results of recent drilling operations in Block 53. Water bearing reservoirs have been encountered in the Rasper exploration well.

APA's drilling operations in Block 53 are part of exploration drilling being conducted by various international oil companies in the deep-sea area of ​​Suriname. The well was designed to test for a new play type in the northern part of Block 53. Water bearing reservoirs have been encountered in the drilled sediment intervals. The evaluation of the well logs and fluid samples is ongoing.

APA is now preparing to drill the Baja exploration well in the southern part of Block 53. Baja is located approximately eleven kilometers northeast of the recently announced Krabdagu find in Block 58. Rasper and Baja are not linked to the existing discovered resources in Block 58 and have no impact on the development of the first project.

APA Suriname has a 45 percent working interest in Blok 53, with Petronas having a 30 percent interest and CEPSA 25 percent.

See also the press release from APA.