Kina (KPL) believes its Alligator prospect on the Fly Platform it the largest structural prospect ever mapped in Papua New Guinea.
Based on gravity and seismic data, it may cover more than 1000sq.km.
The prospect within PPL 436 also sits close to the planned pipeline route to Horizon Oil's proposed pipeline to an LNG export facility at Daru Island.
There are very large structural features capable of draining oil and gas generated in kitchens to the north and east.
Alligator is one of five prospects recognised along the Fly River Fault in Kina's PPLs 435 and 436, with a further two leads recognised in the APPL 611 licence area immediately to the east of PPL 436.
HZN Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)