PPL 319 Licence Overview
•PPL 319 was granted in Nov 08 for a 6y term and is renewable for two 5y periods subject to the PNG Oil and Gas Act
•The licence area is located in the lowlands Papuan fold-thrust belt covering an area of 2,144 km2 and lies on trend with oil and gas discoveries in the area including the 35mmbbl Gobe oil and 1.5 TCF Barikewa gas discovery
•25 TCF of proven gas discoveries have been made regionally (including Hides, Elk/Antelope and Barikewa)
•PPL 319 is traversed by the Kutubu oil export pipeline and the Exxon PNG LNG gas pipeline (under construction)
•Oil Search’s Kopi base camp in PPL 319 has critical regional infrastructure such as roads, wharf & helicopter facilities
•The navigable Kikori river runs through licence, there is good access to water transportation in the licence area
•The 1988 Victory Junction seismic survey and the 2010 HRAM-Gravity identified the Kikori bend leads
•The 148km Sling seismic survey acquired in Nov 2011 confirmed several structures including the Tuyuwopi and Tuyuwopi East prospects on Sling seismic lines 1 and 2 in the Kikori Bend leads area
Tuyuwopi Prospects
• LNG Energy has completed processing the 2011 148km Sling seismic and reprocessing the 1988 Victory seismic
• Interpretation is ongoing with current output giving strong indications of potentially large drillable prospects
• The significant Tuyuwopi prospects have been identified as high quality prospects with large structural areas :
o 1,400m contour: ~8km2 (potential P90 area)
o 1,450 m contour: ~66km2 (potential P10 area)
• The potential of Tuyuwopi as an oil prospect has been demonstrated by LNG Energy’s technical team
• Located advantageously on Kikori River which assists with managing logistics costs
• Proximity to existing oil and gas pipelines should
provide significant time and cost advantages for
commercialisation of discoveries on the licence
PPL 319 Geological Features
• PPL 319 exists on the intersection of the Miocene
Carbonate (Elk/Antelope) and Fold & Thrust Belt
(Hides, Barikewa) regimes-high potential for
additional leads and prospects in the licence area
• Oil-prone organic-rich source rocks are known to exist
proximal to PPL 319, Omati Trough likely source
• Mixed oil & gas source seen in adjacent Barikewa-1
• Presence of gas in Barikewa and Iehi proves seal
• Source/seal combination provides strong case for
Iagifu & other reservoirs- Gobe produces from Iagifu
• Evidence of possible stacked pays with the Toro-
Hedinia-Iagifu, Alene and other reservoir sequences
Refresher for those who forgot about LNG Energy... they are our neighbors:
http://www.lngenergyltd.com/i/pdf/PNG-Li...on-Map.pdf