Post by
AVALONSHARK on Feb 17, 2022 4:44pm
PNG CABINET CLEARS P’NYANG GAS AGREEMENT
Prime Minister James Marape, MP has announced that his Cabinet has cleared the P’nyang Gas Agreement, which now awaits signing between the State and ExxonMobil who is the lead project developer of the Petroleum Retention License (PRL) 3.
https://www.pngbusinessnews.com/articles/2022/2/cabinet-clears-p-nyang-gas-agreement-signing-set-for-next-week
The next few years should be very busy for High Arctic with multiple projects kicking off and high barrier to entry in PNG (limited to no competion). I am expecting the sp to be around $4-$5 in two years time. Great buying opportunity and such an undervalued play.
Comment by
auburn2 on Feb 18, 2022 4:03pm
It looks like PNG will be producing a great deal of gas for at least 30 years. HWO has a monopoly over this market. I would think HWO is a top takeover candidate for the PNG division.