Igiri Petroleum

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IGIRI PETROLEUM LIMITED ASSETS​

The Company Focusses on evaluation and acquisition of oil and gas acreage in Papua New Guinea and the exploration of the acquired assets. The company is progressing well with the exploration in the three licenses, PPL 614, PPL 634 and PPL 671. IPL is in the process of acquiring three more licences, APPL 681, APPL 682 and APPL 689.

Igiri Petroleum is focusing on acquiring quality assets and maturing prospects to drillable status in the near term with a view to building long-term relationships with its partners, associates and stakeholders.

PPL 614

PPL 614 has gas potential and lies just south of Ketu, Elevala gas-condensate fields. Lying on trend and immediately to the east is is Pukpuk and Douglas gas fields. It is located in the Lake Murray area and can be accessed via Fly River. With an undiscovered gas resource of 2156 bcf in place. Any gas discovery in the licence will likely benefit from the Pnyang production facility or from the proposed Western Gas Pipeline.

PPL 634

PPL 634 is oil play with 281 mmbbl oil in place. Licence abuts PPL 671 and resource is apportion between the two licences. A key licence just NW of Mananda discovery field. Any discovery will be amalgamated and feed to the existing PNG LNG & Kutubu pipeline and SE Mananda & Agogo Processing Facility are about 20-25 km away. Licence is surrounded by discoveries and production fields such as Hides, Juha, Angore to the north and oil fields to the SE.

PPL 671

PPL 671 is the Mananda oil discovery field. Mananda is the only remaining discovered oil field in Papua New Guinea that must be developed has a 50 mmbbl oil (P50) discovered resource in place in the hanging wall (HW). The Mananda footwall (FW) remains to be fully evaluated. Preliminary FW resource has an undiscovered exploration upside of approximately 500 mmbbl oil in place (OSL 2014). IPL (2020) preliminary combined undiscovered unrisked resource is 558 mmbbl oil in place based on the leads/prospects generated.

APPL 681 (EX-PPL 523)

APPL 681 is oil potential, has an estimated 3800 mmbbl of oil in place. Licence is in the foreland of Western Provi­nce and geographically flat and any future developments in the area can be accessed via the Morehead and Fly Rivers.​

APPL 682 (EX-PPL 532)​

PPL 682 is both oil and gas potential. Licence in proximity to known discoveries, Pnyang Gas Field, Stanley Gas Field. Undiscovered hydrocarbon in place comprised 996 mmbbl oil and 1.4 tcf gas. Prospectivity potential remains to be realized with new seismic in the area.​

The potential for significant liquids in association with the gas on trend with the Pnyang fields and any discoveries may form part of Pnyang, Stanley and all Western stranded gas fields discoveries. Existing road connecting the river port of Kiunga with Tabubil Mining town.

APPL 689​​

APPL 689 is both oil and gas potential. Licence is west of PPL 634 & PPL 671. Strategic for extended undiscovered Mananda Oil resource.