Rift Oil secures 5 year extension to PNG licence
03 August 2009
Rift Oil, which has agreed to a takeover by Talisman Energy, has been granted an extension to petroleum prospecting license No: 235 by the Minister for Petroleum and Energy of Papua New Guinea.
The license has been extended for a further period of five years commencing on the 29 August 2009. The extension takes effect as from the date of expiry of the original license.
The license has been renewed subject to a minimum work programme which includes the drilling of one exploration well and the acquisition of 80km of 2D seismic within the first two years of the 5 year term, and the drilling of a further exploration well before the expiry of the 5 year term.
http://www.smallcapnews.co.uk/article/Rift_Oil_secures_5_year_extension_to_PNG_licence/8092.aspx
oscar
Rift Oil secures 5 year extension to PNG licence03 August...
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