Project Profile
Location: North New Guinea Basin of the Sepik region, Papua New Guinea
Area: 1.1 million acres
Exploration start-up: Between 1984 and 1986
PPL 258 is located in the northwest of Papua New Guinea. It covers an area of approximately 1.1 million acres in the North New Guinea Basin of the Sepik region of Papua New Guinea. The first major exploration program within PPL 258 was conducted by Shell between 1984 and 1986 when airborne gravity and magnetic data were surveyed and extensive field studies were carried out, followed by seismic surveys in the most promising areas. Eaglewood Energy Inc is currently owing and operating the license. In 2007, the seismic data was reprocessed resulting in a significant improvement in quality. This allowed the identification of previously unrecognised petroleum plays and a significant number of prospects. In early 2009, Eaglewood completed a gravity and magnetic acquisitions program to acquire modern data over the Yawa Trough to further investigate the presence of direct hydrocarbon indicators.
Operators:
Eaglewood Energy Inc.: Operator with 100% interest