2009-08-16-2008-10-01-2008-10-01

Transaction Type
Sellers
Announce Date
Post Date
Close Date
Estimated Price
0MM
Description

Obtained 51% WI in 4 prospecting licenses covering 37,000-square kms. in Blocks PPL285, PPL286, PPL287, PPL288.

Sasol Petroleum International, Johannesburg, South Africa, (NYSE: SSL) has obtained a 51% working interest in four hydrocarbon prospecting licenses covering 37,000-square kilometers, close to established gas fields in the foreland area of Papua New Guinea. Sasol Group general manager Lean Strauss says that seismic surveying is scheduled to begin in October. Strauss says that the exploration work will be carried out by newly formed Sasol Petroleum Papua New Guinea in Blocks PPL285, PPL286, PPL287 and PPL288. Partners include Papua Petroleum Ltd., a Papua New Guinea based exploration company. "This is an exciting opportunity to unlock potential natural gas resources in Papua New Guinea," Strauss says. "We look forward to working with our new partners and the government of Papua New Guinea." During the past few years, Sasol has grown its business from securing and developing gas and liquid assets, primarily in Mozambique and West Africa, to an operational gas supplier to various Sasol businesses and external customers mainly in Southern Africa.