INTEROIL plans to spud its Triceratops 3 well, in PRL 39, by the middle of this year, the company said in its first quarter profit announcement.

Site preparation at the site of the Triceratops 3 well and the Wahoo ST 1 sidetrack in PPL 474 are both planned for imminent drilling, while an appraisal well at Raptor, on PPL 475 is set to be drilled towards the end of 2015.

InterOil said its internal assessment of Triceratops, Wahoo, Raptor, Bobcat and Antelope-South indicates they hold a cumulative gross, unrisked, potential resource of about 17 trillion cubic feet equivalent of gas.

The company recorded a net loss of US$21.9 million in the first quarter of 2015, compared to a net profit of US$318.6 million for the first quarter of 2014.

In an announcement, InterOil said most of this loss had come from expensing US$19.3 million of seismic that the company acquired over its exploration portfolio during the quarter.

The company generated US$13.2 million in revenue during the March quarter.