Rawson Resources Ltd., Sydney, through subisidiary Dondonald Ltd. has entered into a share purchase agreement for Moira Ltd. Moira has 100% working interest in the onshore Papua New Guinea’s PPL 391 in the north New Guinea basin, which encompasses the Matapau oil seeps and several shallow wells targeting the shallow fractured basement.
Additionally, Papua New Guinea’s regulatory authority has awarded Rawson with PPL 549 directly southwest of PPL 391. The block was granted with a 6-year term, with the first well commitment due by mid-2020.
There is further potential in a carbonate reef play, the company said, possibly extending from PPL 391 to the newly awarded block. The first phase of the work program will focus on validating previously identified carbonate reef anomalies and the potential of clastic reservoirs in PPL 549.
Rawson has two additional license applications under consideration. APPL 550 represents a low risk play close to the existing Stanley, Elevala, Ketu, Tingu, and Ubuntu discoveries on the Fly River platform (OGJ Online, Feb. 8, 2011). APPL 560 is offshore in the shallow waters of the Cape Vogel basin. The company cited a previous independent assessment attributing a mean potential resource of 6.5 tcf of gas.
Contact Tayvis Dunnahoe at [email protected].
