Paupa New Guinea
PNG is one of the global hotspots for oil and gas exploration, often described as “an island of gold in a sea of oil”

Commonwealth country that is politically stable
Parliamentary democracy
Close to South East Asian markets
Proven, prolific hydrocarbon province that is under-explored

The LNG project brings significant development and international interest with major infrastructure currently planned
or in the construction phase, major pipelines including PNG/Australia line, refineries & LNG plants.

Papua New Guinea – PPL 326
Our concession Petroleum Prospecting Licence 326 (PPL 326) shows the highly contested tender won by Newport Energy
with strong support from the government and the Petroleum Advisory Board.First time under license PPL 326 holds
on/off shore undrilled acreage in an ignored basin with multiple plays.PPL 326 holds the maximum 200 blocks which
have excellent road and sea access with close proximity to the capital Port Moresby reducing travel costs.

Geological Factors
PPL 326 analogous with producing Papuan Fold Belt.The blue lines on the map follow the Hides Anticline and the Papuan Basin Fold Belt Trend, the tectonic plate movement which holds all of PNG’s major producing oil and gas fields. PPL 326 is located directly in the Fold Belt.Tertiary Basin Trend – Seismic defines very large structures with major upside potential with numerous oil and gas seeps.The companies preferred near on-shore, near off-shore making exploration including seismic more efficient and cost effective.

Oil & Gas Fields
The Moran gas and oil fields located in central PNG have been in production since the 70’s and have many of the majors
as share holders.

The Elk and Antelope gas and oil fields have only recently been discovered by Interoil. In the last 12 months the Elk and Antelope fields have exceeded all expectations with headline grabbing flows and reservoir reports this places these
fields as world class discoveries.

The major strikes in Hides, Juha, Elk and Antelope have accrued south of the main dividing range along the Hides Anticline, the Newport ground has both these attributes. The Exxon, Oil Search & Interoil LNG development contains structures with up to 6 TCF of gas.

Seismic
Seismic has been assessed and has strong indications for both gas and oil. The Fugro seismic is available including
reprocessed seismic and new 2D seismic . File seismic has also been secured. Strong indications of shadowing at similar
depths as Elk and Antelope interceptions. The Furgo data package with enhanced and reprocessed data is available for
purchase which will help to design a specific and comprehensive exploration program.

Oil & Gas: Historical Seismic
Historical file slide showing shadow at 1800 feet below sea level, similar depth to Elk and Antelope reservoirs.

Oil & Gas Plants/Refineries
The Newport ground is in close proximity to the Napa Napa oil refinery and the currently under construction Liquefied Natural Gas (LNG) plant which provides the opportunity for a minor oil and gas explorer to maintain control and release the full value of any discoveries made.

Oil & Gas: Existing Drilling
No drilling has occurred in this portion of the Hides Anticlines. Seismic indications infer resource interceptions at around 600m below sea level similar to the discoveries at the Interoil Elk and Antelope fields making exploration wells very low cost for industry standards and feasible for micro-exploration rigs.

Many of the exploration holes drilled in this region in the 70’s & 80’s had gas and condensate reserves which have not been able to be commercialised previously because of the lack of infrastructure. Close proximity Napa Napa dramatically reduces the cost and time frame for any commercial development.