Kina Petroleum, along with Wondecla Limited, the PNG subsidiary of Cott Oil & Gas Limited, has been successful in a joint application for a new licence, PPL 437, in the Western Papuan Basin.

PPL 437 covers 18 graticular blocks (1,104 sq. km) and borders PRL 21 to the north and east.

There are several leads already identified. In the Northern part of the licence, these leads include potential extensions of prospects already identified in neighbouring licences as well as a lead to the north of the Ketu discovery in PRL 21. In the eastern portion of the licence, a lead to the South East of the Ubuntu discovery has been identified.

The location of PPL 437 sees it ideally positioned to take advantage of production and/or transport facilities which would be constructed in development of the resources already discovered in PRL 21.

Tags: Kina Petroleum Limited