LNG Energy says that the acquisition of 27km of 2D seismic on LNG's 100% working interest PPL 319 in Papua New Guinea has been completed. PPL 319 lies between InterOil Corporation's ("InterOil") recent Miocene aged Elk/Antelope discovery in PPLs 237 and 238 and the Mesozoic aged discoveries located within the licenses of ExxonMobil's US $15B field development and LNG liquefaction export infrastructure announced on December 7, 2009.

The seismic line is located 50m west of the boundary between PPL 319 and InterOil's PPL 237, within an area of mutual interest ("AMI") that has been agreed to by LNG and InterOil (see Press Release dated April 19, 2010). The 2D seismic acquisition program was designed, managed and field operated by InterOil and was completed both on time and on budget; 90 days and US $3.5MM, respectively.

Kelman Technologies performed the seismic processing, with InterOil and LNG having independently interpreted the data. Interpretation has provided a clear indication of significant Carbonate thickening within the historically gas charged Tertiary (Eocene through Miocene) and large deep seated structures within the historically oil charged Mesozoic (Triassic through Cretaceous).

Tags: LNG Energy