VERY Interesting..just sent to me Elections are now over in PNG Peter O’Neil has formed a Government. The Petroleum Minister will be same as before (William Duma) who is a strong supporter of Eaglewood. His naming as new Minister is breaking news, he has always been a good supporter and appears keen to see Eaglewood get their pipeline application through. The portion about Duma is at the bottom of the article on link below.
https://www.abc.net.au/news/2012-08-06/an-png-announces-caretaker-cabinet-woman-governor/4180462
Key points going forward for Eaglewood:
Duma back good news for Eaglewood – as he is a strong supporter of small companies.
Should have a very good chance of getting pipeline and facilities application awarded soon
With those awarded Eaglewood would be in a position to accelerate Ubuntu development and would control the Western Province Condensate scene –a very leveraged position.
Could make Eaglewood a more attractive takeover target and a more expensive one at that
Investors should also be looking forward to the Stanley unitisation outcome and ultimately how large Eaglewood’s portion will be. Also the announcement of the drill site location for 259 should be coming in the next few weeks with the well being spud by year end.