Australian Shares Sparty's Blog
Comments on this blog should never be taken as investment advice
Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.
Main Forum•NGE very large acerage, huge potential oil and gas
-
NGE, listed on the Australian Securities Exchange (ASX), the Port Moresby Stock Exchange (POMSOX) and the OTCQX, is focused on petroleum exploration and production in Papua New Guinea.
The Company possesses six onshore licences encompassing 53,000 km2 (13 million net acres) which represents one of the last available highly prospective, onshore, nonaligned acreage positions in SE Asia.
To date there has been 1 billion bbls of oil and 15 Tcf of gas discovered in adjacent licences. NGE has farm-in agreements on two of its six blocks (PPL 268 and 269) with a subsidiary of Talisman Energy Inc. Talisman’s subsidiary is committed to spending US$11 million on seismic programs and may drill up to three wells on each of NGE’s licences over the next two years. NGE is advancing its exploration programs on its four remaining wholly owned licences. -
A lot of excitement following NGE's latest ASX announcement. Well worth reading and lots more to come.
07/09/11 Drilling Report, Siphon 1
I hold NGE
-
Sparty PNG is a bad place to be a miner. NONE of the companies that I have held shares in have prospered.
Alite
-
I agree with you re the country risk. I rarely go outside of Australia.
