Company Information for New Guinea Energy ltd

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ASX; NGE View full financial data

Company Statement

New Guinea Energy is an Australian company focusing on oil and gas exploration and production in PNG.

NGE holds 6 onshore Petroleum Prospecting Licences (PPLs) covering more than 52,000 sq km. These PPLs contain an excellent exploration inventory of 59 prospects and leads, which include 6 drillable prospects. 10 top leads are currently being evaluated for upgrading to drillable prospect status.

Company Diagram

Operations and Technology

• New Guinea Energy is an Australian company focusing on oil and gas exploration and production in PNG.
• PNG has a favourable tax regime with incentives for oil and gas development.
• The Papuan Basin is a proven petroleum play with a similar petroleum system to the offshore Australian Carnarvon Basin.
• NGE has 6 onshore Petroleum Prospecting Licences (PPLs) covering more than 50,000 sq km.
• These 6 PPLs contain an excellent exploration inventory of 59 prospects and leads, with its 6 prospects and top 10 leads holding risked resources of over 1800 mmboe.
• Good access to PPLs is provided by the Fly River and the ports of Aiambak and Kiunga. The existing all weather roads connecting Kiunga to the Ok Tedi mine provides great access for drilling operations and significantly reducing well costs by limiting the use of helicopters.
• A number of significant oil and gas discoveries are proximal to NGE's PPLs.
• Seismic and gravity field surveys have recently been completed

Board of Directors and Key Management

Executive Chairman	Mr Mike Arnett
Non-Executive Director	Sir Michael R Bromley KBE
Non-Executive Director	Andrew Kent
Non-Executive Director	Mr Andrew L Martin
IR	Lucy Rowe

Company Address Level 22 Gold Fields House 1 Alfred Street Sydney, Australia NSW 2000 Telephone: 612 9250 1800 Facsimile: 612 9250 1838 Email: office[at]ngenergy.com.au Website: http://www.ngenergy.com.au

Additional Address/Key Contact PNG Office: PO Box 592 Level 5, MMI Building Champion Parade Port Moresby National Capital District Papua New Guinea T 675 321 1785 F 675 321 1782

Capital total of shares on issue: 669,543,988 Options 7,500,000 exercisable @ $0.275 cents before 28 August 2011 3,000,000 exercisable @ 30 cents before 30 November 2011 12,000,000 exercisable @ $0.30 cents before 1 March 2012 2,000,000 exercisable @ $0.25 cents before 28 December 2012 3,000,000 exercisable @ $0.25 cents before 27 December 2012

Year End 31 December

Major Shareholders

Mandolin Pty Ltd	11.580%
Asia Image Ltd	7.206%
Aspermont Ltd	3.002%

Related News

10/03/10 - New Guinea Energy Gears Up For Some Drilling Following Its Farm Out to Talisman Energy
06/10/09 - New Guinea Energy Bags Talisman Energy As Farm-In Partner In Papua New Guinea

Most Recent Statement

16/11/09 - Appointment of Chief Executive Officer
16/11/09 - Announcement of Capital Raising
11/11/09 - Results of General Meeting
11/11/09 - Chairmans Address
05/11/09 - Updated Corporate Presentation
30/10/09 - Quarterly Activities Report