Oil Search (PNG) Ltd.

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Description

Papua New Guinea-based Oil Search (PNG) Ltd. has retained IndigoPool to seek a partner to join in testing an exploration play in petroleum prospecting license 190 in Papua New Guinea. Cobra prospect has upside recoverable potential of 75 million barrels of oil and is near existing production. The company is offering up to 20% of its 62% equity in the license. Cobra 1 will be the first exploration well within the Papuan Fold Belt to target this play type as a primary objective. Contact Greg Mowlds, 713-513-1513.