Following on from the drilling plan snippet on PPL277 with Sasol we may now end up with a "3 Gorillas and 1 Banana" scenario with Talisman, Sasol and Oilsearch fighting for the prize of the last highly prospective and extensive acreage left in PNG (13m acres).
The catalysts for the fight will be a good sniff at Siphon with Talisman, a good sniff at Oilsearch's Huria or a good sniff at PPL277 with Sasol! Not to mention other drill programs planned.
From the Sasol 2010 Annual report -
In Papua New Guinea where we have four petroleum prospecting prospecting licences, we have successfully concluded seismic acquisition and a number of prospects have matured. The first will be drilled in early 2011. With its purchase of Papua Petroleum Limited in December 2009, Talisman Energy of Canada became our 49% joint venture partner in the licences we hold in Papua New Guinea.
Regards
Pihrana
NGE Price at posting:
17.5¢ Sentiment: None Disclosure: Held
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