Petromin/Kalinoe are GONE = Kumui Petroleum

[petrengr1]

Palm- Can you explain how all of this new system will work? Last week we heard about National Petroleum Corporation of PNG (NPCP) which I thought was to be run by Frank Kramer. Now we have this " statutory authority" which is to have an independent board and Managing Director (Frank Kramer?) and today we hear about another National Oil Company, Kumul Petroleum which is to replace Petromin. I had previously thought that NPCP was to replace Petromin. Now I don't know how all of this is supposed to fit together. And then Frank Kramer has his own company which I had thought might be going to become NPCP.

If you or anyone else knows how this will work and what the function of each entity will be I would appreciate it if you could explain it to us.

Thanks.