LNG Energy, Interoil To Work on Seismic Programme

LNG Energy and Interoil have entered an agrement to work on a 2D seismic programme at LNG’s working interest in Papua New Guinea (PNG).

The seismic programme includes the acquisition and interpretation of a 27km north-south line located 50m west of the boundary between PPL 319 and InterOil’s PPL 237.

Interoil has identified an anomaly similar to that defining the recent 8 TCF Elk / Antelope reef discovery (about 60km due east) on the boundaries of the two adjoining PPLs.

Kelman Technologies will process and interpret the 2D seismic line.

LNG and InterOil will review the data to plan forward for additional seismic acquisition or a potentially drillable prospect after interpretation and analysis has been completed.

LNG and Interoil have agreed on an area of mutual interest totalling 540km² that runs north-south for 27km, extending 10km to the east and 10km to the west of the boundary between PPL 319 and PPL237.

Existing technical information on this area including high resolution airborne magnetic (HRAM) and gravity, seismic and well data will be shared between both the firms.

The programme will be managed by InterOil and final data acquisition is expected in June 2010.