Project Profile
Location: onshore Papua New Guinea
Area: 2,025 sq km
PPL 486 was obtained in June 2014. PPL 486 encompasses the same territory as PPL 319 did and has a six-year term along with conditional work and expenditure commitments.
PPL 319 is in the lowland area of the Papuan fold and thrust belt between several substantial oil and gas fields and is on-trend with Oil Search's Kutubu and Gobe producing oil fields. Ninety-one miles (148 kilometres) of 2D data was acquired during the periods April-June and October-December 2011, with interpretation in early 2012. The survey comprised 41 miles (67 km) of alluvial river flats around the Kikori River, 36 miles (59 kilometres) of karst limestone and 13 miles (22 kilometres) of volcanic terrain.
PPL 319 contains proven, mature Late Jurassic (Kimmeridgian) Lower Imburu Fm. source rocks that are presently generating hydrocarbons from local kitchen areas. It is believed that PPL 319 contains clastic reservoirs of Lower Cretaceous-Upper Jurassic age (Toro-Hedinia-Iagifu sandstones), particularly in the western part and the Kikori Bend area of the PPL 319 License. The operator believes the presence of source, seal, reservoir and structural traps on PPL 319 are extremely prospective in this proven hydrocarbon trend.
Operator:
Esrey Energy: Operator with 50.55% interest
Heritage Oil: 40% interest