These 5 licenses are of no use if the company has a very little...

These 5 licenses are of no use if the company has a very little market cap to deal with the large geographical locations of these potential projects in a country like PNG. if they have limited activities, the term of these licenses will be up. We have companies holding several hydro carbon licenses over these areas before with very little activities. The lack of activities prompted the Petroleum and Energy Minister to review the license holder which led to cancellation so new players can come on board.

PNG government is encouraging business investment by providing an enabling environmental in-terms of creating policies that will support investment and no doubt this enabling business environment is encouraging. For a small cap company investing in PNG is a huge geographical and logistical challenge due to lack of infrastructure.