InterOil announces March quarter profit

PORT MORESBY: InterOil is optimistic of a “strong and vibrant future” following the release of its latest financial figures.

The company reported a net profit of US$2.6-million for the three months ended 31^st March 2009.

It represents a $US5.0-million improvement over the equivalent period for 2008, when a loss was recorded.

The strongest part of its operation was the midstream refinery segment which posted a net profit of $US10.3-million.

Chief financial officer Collin Visaggio says this is up from a $US0.2-million profit in the equivalent period of 2008.

“It represents a dramatic improvement in our refinery’s results and one that gives us greater confidence in its future viability,” he said.

He cited an improved naphtha premium and gains on hedge account transactions as among the main reasons for the improvement.

The average refinery run rate of almost 19,000 barrels per day during the period of which more than 11,000 barrels were for domestic sales.

The company’s midstream liquefaction segment recorded a net loss of $US2.6-million reflecting expenses incurred in the PNG LNG joint venture project.

“These expenses are a necessary investment in the future of not only our company but also of the entire nation”, Mr Visaggio said.

“In many ways it is the most exciting part of our business and one which, in time to come, may yield outstanding results.”

InterOil’s downstream segment posted a net profit of $US1.0-million while its upstream segment had a net loss of $US2.1-million.

The company’s debt-to-capital ratio also underwent a dramatic improvement during the past 12 months.

“It now stands at a very healthy 34%, compared to 68% in the same quarter of 2008”, Mr Visaggio said.

“This gives us a great base to work from and will help ensure our strength, particularly in these difficult economic times.”

 

For further in formation please contact

Susuve Laumaea

Senior Manager Media Relations InterOil Corporation

Ph: (675) 321 7040

Mobile: (675) 684 5168

Email: susuve.laumaea@interoil.com  

 

Bishop Rev Dr Wesley Kigasung is laid to rest

PNG Defence Force soldiers lower Dr Kigasung's casket into the tomb. This and all pictures by DAVID HARRO

Some of the thousands of people who attended Dr Kigasung's burial at Aluki village, Bukawa

Tears for Dr Kigasung at Aluki

Bishop Kigasung's body being taken for burial

PNG Defence Force soldiers lower Dr Kigasung's casket into the tomb

Dr Kigasung's tomb

PNG Defence Force Band leads the funeral procession at Aluki

Flashback...we look back to the burial of Rev Dr Wesley Kigasung on Sunday, May 25, 2008 at his Aluki village, Morobe province...

Evangelical Lutheran Church of PNG leader, the late Bishop Doctor Wesley Kigasung, was laid to rest at his Aluki village in Bukawa, Morobe province, after 3pm last Sunday, May 25, 2008.

Thousands of people from the Bukawa villages, Lae, Morobe province, Papua New Guinea and overseas flocked to Aluki to see Bishop Kigasung buried in a concrete tomb.

Heavy overnight rain last Saturday night and Sunday gave way to bright sunshine in time for the burial.

It ended a week of mourning in which Dr Kigasung’s body traveled to Port Moresby, Mount Hagen, Madang and Lae before the final journey home to Aluki by road from Lae last Saturday afternoon.

Thousands of people lined the road from Lae to Aluki to bid farewell to Dr Kigasung as his motorcade drove past.

In emotional scenes, men, women and children wept, sang, waved banners, flags and threw flowers at the motorcade.

In one of the most-moving scenes, at Situm primary school, children sang a touching tribute to Dr Kigasung which brought tears to the eyes of those in the motorcade.

Many commented that the respect accorded to Dr Kigasung between Lae and Aluki yesterday, as well as that shown between Nadzab and Lae last Friday, and at the Sir Ignatius Kilage Stadium last Saturday, had never been seen before in this country.

At Aluki, tears again flowed freely for its favorite son as local villagers, those from Lae, and others from Siassi Island – the place where Dr Kigasung was born and the last place he visited – sang traditional songs of mourning for the charismatic and much-loved leader of 1.2 million Lutherans in PNG.

Last Sunday's funeral service was delayed because of the non-arrival of Morobe Governor Luther Wenge as expected.

The burial was later delayed again because of the slow drying of cement in the concrete tomb because of the wet conditions.

VIPs present included Lae MP Bart Philemon, Tewai/Siassi MP Vincent Michaels, Bulolo MP Sam Basil, former judge Don Sawong and Kambang Holdings chairman Namon Mawason as well as a representative of the American Lutheran Church.

ELCPNG Jabem District president Reverend Gedisa Okamaisa said Dr Kigasung was a “humble” servant of God and the people.

“He left us at a time when we least expected,” Rev. Okamaisa said.

“His death is a call for us to take ownership of the church.”

Special tribute to Reverend Doctor Wesley Kigasung (please click individual images to enlarge)

A tribute to Bishop Reverend Dr Wesley Kigasung

This is the tribute piece I wrote about the Head Bishop of the Evangelical Lutheran Church of Papua New Guinea, Rev Dr Wesley Kigasung, on the occassion of his untimely death exactly a year ago on May 14, 2008. Lutheran in PNG continue to pray for a good leader to run the ELCPNG, who will be elected at next January's Synod

The Evangelical Lutheran Church of Papua New Guinea, one of the largest mainline churches in the country with up to 1.2 million followers, is mourning the sudden death of its charismatic leader – the American university educated Bishop Reverend Dr Wesley Kigasung – who passed away yesterday aged 57.
He will be remembered by Lutherans all over the country for his skills as a preacher of the Word of God.
Wesley Waekesa Kigasung comes from Aluki village in the Bukawa area of Morobe province.
He was born on July 16, 1950, and is married to Susie Manempen Kigasung of Mindere village in the Rai Coast area of Madang Province.
The Kigasungs are blessed with two daughters and two grand daughters.
The young Wesley Kigasung received primary education in remote Menyamya and later on Siassi Island where he did secondary schooling at Gelem High School (now Siassi High School) from1966 to 1968.
He completed High school at Asaroka Lutheran High School in Goroka, Eastern Highlands in 1969.
Kigasung attended Martin Luther Seminary from 1970-1975 and graduated in 1975 with Diploma of Theology and Bachelor of Theology.
He received further studies at the University of Papua New Guinea in Port Moresby from 1976 – 1978 and graduated from the University in 1979 with the degree of Master of Arts majoring in history of PNG).
From 1979 to 1980 he served as Circuit Pastor in remote Kaintiba, Gulf province.
In 1981 Kigasung was called to teach at Martin Luther Seminary in Lae until the end of 1982.
In March 1983 he left with his family for Germany for language studies.
Towards the end of 1984 he again left for further studies in Chicago, USA, where he graduated in 1986 with the degree of Master of Theology at the Lutheran School of Theology in Chicago.
Kigasung continued studies for his doctoral degree and completed all doctoral work in 1989, when he received the degree Doctor of Theology from the Lutheran School of Theology in Chicago.
He resumed work as Lecturer at Martin Luther Seminary towards the end of 1989.
In 1991 he was appointed Principal of Martin Luther Seminary and served as Principal until 1997.
In January 1998 Kigasung was elected Head Bishop of the church at the Kimbe Synod.
Kigasung is widely respected as an intellectual and a leading preacher of the word of God in this country.
“I believe it is a special gift from God,” he told me in a rare interview in 2006.
“From my early years in school I already developed the skill of speaking in front of my peers.
“Through the years I have challenged myself to develop my abilities in order to serve well.
“I like to read a lot and I have read lots of books on leadership and other books that help to develop my skills in working and communicating with people.
“My philosophy in life is to do well in a given task; to face life and responsibility without fear and doubt; to take criticisms and face difficult situations with humility and respond with positive attitude and be more proactive rather than being reactionary.”
Kigasung says being the spiritual leader of all Lutherans is not an easy task but he finds so much joy in serving God.
“It is not easy,” he says frankly of his job.
“Very challenging and very demanding.
“But there is much joy and satisfaction in serving God's people.
“I find much joy in meeting people of different cultures and different works of life and back ground and of different nationalities.
“You see and experience God's wonders and life in the faces of these different people in the church.
“I leave my future in God's hand.
“This is my last term as Head Bishop.
“I hope and pray that the Lord will grant me good health and strength to serve him in another role after this final term as bishop.”
From January 9 to 13, 2006, the ELCPNG held its 25th Synod at remote Wasu in Morobe province, where Dr Kigasung was reelected for a third four-year term.
The first Synod was held in 1956 at Simbang, Finschhafen, the site of the first landing of the pioneer German missionary Johannes Flierl in 1886.
It was at this Synod that the Church adopted its Church Order (or Constitution)
The first Head Bishop of the newly founded Church, the Evangelical Lutheran Church of New Guinea (ELCONG) was elected in 1956.
He was an American missionary, the Reverend Dr John Kuder.
The three Head Bishops preceding Dr Kigasung were Bishop Dr. John Kuder (1956 – 1972); Bishop Sir Zurewe Zurenuoc (1973 – 1981) and Bishop Sir Getake Gam (1982 – 1997).
Dr Kigasung was reelected at a time where there is splintering within the church through the Lutheran renewal movement; when there are criticisms from within the Church itself that it has become sluggish and has been sidetracked from fulfilling its greatest mission of spreading the word of God; that it has become so vocal on business matters without paying any attention to evangelism, ministerial training, health, education and the welfare of its pastors and evangelists; and there has been talk about the creation of a Lutheran university in Lae.
So what of the future?
“The major plans for the future of the Church is to revisit the mission of the church; to revitalise the church to become more responsible and accountable in financial matters; improve leadership responsibility; improve pastoral responsibilities as well as addressing the concerns of the pastors and other church workers.
“I encourage all Lutherans to share their faith in the many gifts and talents that they possess to help build the church.
“I want to introduce to the church the theme for the new period of this church for the next 50 years.
“I want to challenge all genuine and committed Lutherans with the theme: ‘Sharing the Faith, Building the Church’.
“All Lutherans are asked to come forward in support of their church by ‘Sharing their Faith in Building the Church’.”

The life of Rev Dr Wesley Kigasung in pictures

Bishops Council May 2008, Rev Dr Kigasung's last attendance

Buang Circuit office opening - Rev Dr Kigasung officiating

Buang Circuit office opening - Rev Dr Wesley Kigasung leads

Casket carried by Jabem District members to St Andrew's church at Ampo, Lae

Rev Dr Wesley Kigasung

Rev Dr Wesley Kigasung in Germany

Rev Dr Wesley Kigasung meeting mothers at Siassi on his fateful last trip before his death

Rev Dr Wesley Kigasung on a pastoral visit in 2005

Rev Dr Wesley Kigasung preaching at Kundiawa on his ELC Simbu District pastoral visit in 2007

Rev Dr Wesley Kigasung preaching at the Wasu Synod 2006

Rev Dr Wesley Kigasung responding to keynote speech at the 2003 Lutheran World Federation General Assembly in Canada

Wesley Waekesa Kigasung (July 16, 1950-May 14, 2008)

Evangelical Lutheran Church of Papua New Guinea marks first anniversary of Rev Dr Wesley Kigasung's death

The Evangelical Lutheran Church of PNG will tomorrow marks the first anniversary of the death of its much-respected and charismatic leader Bishop Rev Dr Wesley Kigasung.

The ELCPNG, one of the largest mainline churches in the country with more than 1.2 million followers, lost   the American university educated Rev Dr Wesley on May 14, 2008, aged 57.

He is survived by wife Susie, daughters Joanna and Maureen, son Luther, son-in-law Franford Dagina, and two grand daughters Natasha and Melissa.

His legacy, however, lives on to this day as Lutherans throughout PNG still struggle to come to terms with his untimely death.

In emotional scenes in Port Moresby, Mount Hagen, Madang and Lae upon his passing last year, thousands of church followers turned up to pay their last respects.

A successor for Rev Dr Kigasung will be elected at the 2010 synod to be hosted by the Jabem district next January.

Staff at the ELCPNG headquarters at Ampo in Lae and the 17 district presidents will tomorrow travel to Rev Dr Kigasung’s Aluki village to commemorate the first anniversary of his death.

They will hand over the headstone for his grave, to be followed by a service, speeches, and a final customary feast to end the traditional one year of mourning.

 

Papua New Guinea art takes Australia by storm

Artwork by Mairi Feeger featuring various social ills such as sorcery, violence and alcohol. It will go on show in BundabergArtwork by Laban Sakale

Winnie Weoa (left) and Daniel Waswas - both of whom are involved in the Australian exhibition - at Gerehu in Port Moresby last week

Joycelin Leahy (centre) with artists Winnie Weoa (left) and Daniel Waswas - both of whom are involved in the Australian exhibition - at Gerehu in Port Moresby last week

Lae girl, former journalist and Miss Papua New Guinea Joycelin Leahy is taking Australia by storm with an art exhibition, aptly titled Pacific Storms.
Pacific Storms will feature new and well-known Pacific artists such as Daniel Waswas and brothers Jeffrey and Mairi Feeger from PNG, as well as Paskua from Tahiti.
“The show will show key works, not seen in Australia before,” says the popular former journalist and 1989 Ms PNG, who ran Beyond Art in Port Moresby before moving to Australia.
Ms Leahy, now based in Australia, is well-known in both PNG and down south for being an art curator.
Just last week, she visited home at Wagang (Sipaia) village in Lae and took a boat to the cultural treasure trove of the beautiful Tami Islands off Finschhafen, Morobe province, to buy art works.
Pacific Storms, a contemporary art exhibition will be opened by Australian Minister for Pacific Affairs, Duncan Kerr, on June 3 and ends on July 13 at Bundaberg Regional Art Gallery.
It will, in a way, it will be poetic justice as Bundaberg Regional Art Gallery is historically a significant location for Pacific people including South Sea islanders that have contributed immensely to the sugarcane plantations – many through the infamous blackbirding days - and Queensland's economy.
“There are a number of their descendants and other islanders that live there,” Ms Leahy says.
“The exhibition hopes to draw the community together to re-connect with history in a contemporary and art sense.”
The show is coordinated by Pacific Curator Ms Leahy with the support of Bianca Acimovic, Bundaberg Regional Art Gallery.
In the Pacific, when you see frigate birds, you know, a storm is not far behind.
During a workshop in Bundaberg last year, Ms Leahy proposed Pacific Storms as an idea to Bianca Acimovic, colleague and exhibition officer at the Bundaberg Regional Art Gallery.
After much discussion and a written proposal, the gallery accepted the idea and Joycelin, 20 years experience in working with PNG and other Pacific artists, invited over 30 artists across the Pacific islands and within the Australian Diaspora communities to have a collaborative show to highlight climate change and a number of other challenging issues in the Pacific.
These included the killer disease HIV AIDS, security, logging, and many other social threats.
Ms Leahy’s interest in climate change and how it affects cultures of coastal communities in the Pacific culture in the Pacific led to call for new art for a topic which is a hot global debate, but one that is serious for many islanders who watch their homes disappear under the seas with sea level rise and other intense weather.
“Australia has significant geographical, historical and economical ties with the Pacific islands,” she says.
“It is important for Australians to learn more about the Pacific people, as many now live and contribute to the economy and call Australia ‘home’.
“The Pacific Storms programme at Bundaberg Regional Art Gallery extends to and links the community through family and artist community collaborations, professional development and celebrations of Pacific Culture.
“Apart from Bianca and myself, several other artists are all helping to pull together what we need for the show as given the obvious economy state of our country; it has been very tough trying to get assistance.
“However, I am proud to say that the show has developed a momentum and we have been inundated with inquiries about the art, programme and involvement of others.
“It is also a good opportunity to assist the artists to do business with Australian galleries, museums and collectors as well as general public for future business partnerships.
“We are looking for a second venue in Brisbane and in hope to keep the show running for a further six to eight weeks.