In PNG, Santos has farmed in for a 20% interest in PPLs 395, 464, 507 and 545, subject to government approval - all between Hides and P'nyang.
On October 22 Oil Search spudded appraisal well P'nyang South-2 in the P'nyang field's south-east which will be key to helping finance and market the PNG LNG expansion.
Early appraisal has been underway with Oil Search previously saying that early results from Muruk had been "very encouraging" following the discovery of two gas pools in the greater Muruk structure, with multi-Tcf potential identified.
Santos said today that delineation 2D seismic is now planned for 2017-18, along with Muruk 2 appraisal in the first quarter of next year.
Appraisal of the Barikewa field in PRL 9 - which can also provide additional gas for PNG LNG or domestic gas - has also been tracking well, with Barikewa-1 having proven gas in the Toro and Hedinia sands with good flow rates, and Barikewa-3 is due next year.
As for Santos' exploration, the Karoma-1 wildcat is due to drill in Q4 2018 next to Muruk, along strike from Hides.
HZN Price at posting:
8.0¢ 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)