South Pacific Resources gets new PNG licenses

[jft310]

http://www.energy-pedia.com/news/papua-new-guinea/south-pacific-resources-awarded-five-unconventional-oil-and-gas-licences-in-png-167974 

[ArtM72]

Interesting mention of shale resources around E/A. Yet another reason for IOC licenses to be coveted.

[jft310]

Art -But valued them at Zero in the deal !! Why ?? Has nothing to do with his payment could it ???
Definition of Breach There Hession !!!

[ArtM72]

"South Pacific Resources has announced that, on 26th February 2016, the Papua New Guinea Parliament enacted new legislation to enable exploration for, and development of, unconventional oil and gas resources in Papua New Guinea (PNG). Up until now exploration for unconventional sources of oil and gas in PNG has been specifically excluded under the Oil and Gas Act 1998."

The more I think about this the greater the potential impact I see for IOC and the bidding war for its resources we are beginning to hear as distant thunder. Wahoo may have been drilled in the wrong place but the Orubadi extends throughout.

Vote no and keep our eyes on the horizon

[AU74]

This penny stock might be worth a look, huh?

[jft310]

Kina Pet is another , what will Phil do with his cash received ??

[Tusker]

26th February 2016, the Papua New Guinea Parliament enacted new legislation...specifically excluded under Oil and Gas Act 1998.

That is a very large material difference in above ground National oil and Gas policy. No mention of this from InterOil Management that I can recall.

Extremely unlikly that IOC was not aware back in February. I do recall... you find oil and gas near oil and gas. Got prospective shale oil and gas Hession? Why no mention of the potential for added value for InterOil shareholders?

Did Wahoo hit a pocket of shale gas?

[jft310]

Tusker , Hession wants to get paid ASAP !! His wife wants the new house etc !!

[sageo]

26th February 2016, the Papua New Guinea Parliament enacted new legislation...specifically excluded under Oil and Gas Act 1998. That is a very large material difference in above ground National oil and Gas policy. No mention of this from InterOil Management that I can recall. Extremely unlikly that IOC was not aware back in February. I do recall... you find oil and gas near oil and gas. Got prospective shale oil and gas Hession? Why no mention of the potential for added value for InterOil shareholders? Did Wahoo hit a pocket of shale gas?

 Good day to you,Tusker . Methinks you are on to something here. (...they had fantastic pressures from gas from some source ) and they shut down all talk about it very quickly . Just another "humm" )  We sure seem to have a lot of them lately . [ Another 'smile'  ]