OPERATORS SHIFT ON BLOCK IN PAPUA NEW GUINEA

A unit of MIM Holdings Ltd., Brisbane, has assumed operatorship of a Papua New Guinea exploration permit where a group of companies recently drilled a sizable oil strike. Barracuda Pty. Ltd., with a 20% interest, takes over as operator of Exploration Permit PPL 56 from previous operator Command Petroleum Holdings Ltd. Command will remain in the group with a 20% interest. MIM said the group will drill at least one and probably two more appraisal wells to the discovery in 1992.

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