Recently I have been doing some back up research on the prospectivity of the surrounding leases to Panakawa PPL267, in particular PPL 285,286,287,and 289. These were owned by private company Papua Petroleum and farmed into by Sasol in Sept 2008. Talisman acquired 50% of these leases recently.
The attached slides provide detail and highlight the potential of these surrounding leases. Interestingly the selling point is the proximity to the Panakawa oil seep and the generative oil system out of the Wabuda Trough to the east of Panakawa.
I understand the potential pitfalls of "nearology" only too well, but our seeps over 100k flowing 5 bbl/day of light black 35 API oil (which is better than the 55 API found in the highlands), and our seismic evidence of an exciting 4 way closed structure here is very compelling. Don't forget Panakawa North which may be twice the size.
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