Licences PPL 269

Following the sale of a 50% interest in PPL 269 to a subsidiary of Santos Limited for a consideration of US$32M cash upfront, NGE is additionally entitled to the following contingent payments:

· Future cash payment of US$2M if a Petroleum Retention License (PRL) is granted over any area of PPL 269; and
· Future cash payment of US$6M if a Petroleum Development License (PDL) is granted over any area of PPL 269.

Should a PDL be granted prior to a PRL, a one off cash payment of US$8M will be payable instead.

 

PPL269



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About Us

New Guinea Energy Limited is a Listed Investment Company (LIC) based in Australia.

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Legacy

NGE’s historical activities were oil and gas exploration in PNG. NGE retains upside potential from two onshore Petroleum Prospecting Licences (PPLs) in PNG.

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Investor Information

New Guinea Energy Limited is listed on the Australian Securities Exchange.
ASX Code: NGE

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NGE is committed to observing and maintaining the highest standards of sound corporate governance practices.

For further information on NGE’s Corporate Governance policies please click here.

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Melbourne Office +61 3 9648 2290
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