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NEW GUINEA ENERGY LTD - ASX: NGE
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
New Guinea Energy Ltd is an Australian company focusing on oil and gas exploration in PNG.
PNG has a favourable tax regime with incentives for oil and gas development.
The Papuan Basin is a proven petroleum play with a similar petroleum system to the offshore Australian North West Shelf.
NGE has 6 onshore Petroleum Prospecting Licences (PPLs) covering more than 50,000 sq km.
These 6 PPLs contain an excellent exploration inventory of 6 prospects and 101 leads, The 6 prospects contain contingent prospective resources (Pmean) in excess of 600mmboe, while the top 10 leads add an additional 1800 mmboe.
Farmout Agreement signed in September 2009 with Talisman Niugini Limited on PPL 268 and PPL 269.
Good access to PPLs is provided by the Fly River and the ports of Aiambak and Kiunga. The existing all weather roads connecting Kiunga to the Ok Tedi mine provides great access for drilling operations and significantly reducing well costs by limiting the use of helicopters.
A number of significant oil and gas discoveries are proximal to NGE's PPLs.
Mine For
oil, gas
Location of operation(s)
Papua New Guinea
Address
Se 401 Level 4 2-10 Loftus St
SYDNEY, NSW, AUSTRALIA
Phone
(61 2) 9252 0010
Website
Last Updated
17/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
