By UNRE Public Relations
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Students wait for PNG Balsa assistant production manager Joe Raka (left) to take them on the company facilities tour |
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Students wait for PNG Balsa assistant production manager Joe Raka (left) to take them on the company facilities tour |
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A female youth receiving her certificate from Maprik district administrator Simon Faelau, while councillor Ulupu Ward and head trainer IATP look on.-Picture by RAY ROBERTS |
ENB taro selling at SVS Foodland supermarket, Harbour city |
A customer buying ENB taro at Stop n Shop supermarket, Rainbow, Gerehu |
By DR GAE GOWAE
Thank you Robin for your well-received views and offer to assist.
Indeed the political insinuation is there, but regardless of who provides the financial support, the scientific nature and the credibility of the findings are what we need. This is why either by outside consultants or Morobe elites, the appropriate technical expertise and experience is needed to undertake this study.
The cost for such study is enormous, and political support either through Tutumang (Morobe provincial assembly) or individual MPs is required, as long as the report of the findings is credible and transparent; whatever political achievement is up to the people's judgement.
The idea of us Morobe elites assisting is to do it at reduced cost, particularly to cut down on the consultant fees.
The report by Mr Michael Kiap is worth accessing, but interestingly, why were such findings never publicized?
However, given the recent problems as seen on the TV and the circulation of the video clips of the area, it is worth untaking an independent study to ascertain all those allegations.
Your suggestion of Tutumang submission for financial support is well taken and in fact I have already suggested the idea to landowners’ association interim president, which requires the local level government presidents' support and endorsement.
This too will required technical expertise advice and assistance in putting together the submission.
I have Ms Finkewe Zurenuoc, who has enormous experience in mining industry, already offering her assistance and you in hydrology, which is great.
We need a few more and then we can look at logistic support to get together and plan this study including the costing.
Kind regards,
G.Gowae
Cairns, Australia and Houston, TX -- September 28, 2010 -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC) today announced that during stabilised flow from drill stem test (DST) #7 at the Antelope-2 Horizontal 2A well in Papua New Guinea, the well flowed gas at rates between 2.5 to 4.5 million cubic feet of natural gas per day (MMcfd) through various choke sizes with limited formation water produced.
A stabilised condensate-to-gas ratio (CGR) of approximately 24-27.7 barrels of condensate per million cubic feet of natural gas (Bbls/MMcf) was measured on both a 32/64 and 22/64 inch choke.
This is approximately a 60% increase in CGR from DST #1 which was performed at the top of the reservoir and reported on October 14, 2009 at 16.5 Bbls/MMcf. DST #7 was conducted over a 355 foot horizontal interval from 9,357 feet (2,852 meters) to 9,712 feet (2,960 meters) total measured depth, at a true vertical depth (TVD) of 7,743 feet (2,360 meters).
Formation evaluation logs from the entire Antelope-2 Horizontal-2A well were obtained over the total measured depth (TMD) interval of 1,719 feet from 7,937 feet (2,419 meters) to 9,656 feet (2,943 meters) and indicate 99% limestone and dolomite with an average porosity of 10% through the pay intervals.
The extensive data gathering process has been successfully completed at the Antelope-2 well and subsequent horizontal laterals.
The forward plan is to continue subsurface analysis of the reservoir while preparing the well for long-term production.
About InterOil
InterOil Corporation is developing a vertically integrated energy business whose primary focus is
InterOil’s common shares trade on the NYSE in US dollars.
Cairns, Australia and Houston, TX -- September 28, 2010 -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC) today announced that InterOil and Liquid Niugini Gas Ltd., its Joint-Venture liquefied natural gas project company with Pacific LNG Operations Ltd., have signed a binding Heads Of Agreement (HOA) with Energy World Corporation Ltd. (AX: EWC) to construct a two million tonne per annum (mtpa) land-based LNG plant in the Gulf Province of Papua New Guinea (PNG).
The Train 1 LNG plant would process an estimated 1.5 trillion cubic feet (Tcf) of natural gas over 15 years with early stage capital expenditure estimates amounting to US$455 per metric tonne of LNG production.
In return for its commitment to fully fund the plant, the HOA provides that EWC is to be entitled to a fee of 14.5% of the proceeds from the sale of LNG from the plant, less agreed deductions, and subject to adjustments based on timing and execution.
The HOA sets out the major terms and conditions which the parties intend to include in the Train 1 Funding and Shareholder’s Agreements, as well as a potential expansion of the plant’s capacity from 2 mtpa to 3 mtpa.
The HOA with EWC for the development of a mid-sized LNG plant is an opportunity to enhance the proposed condensate stripping plant (CSP) being pursued in joint venture with Mitsui and accelerate the intended monetization of the Elk and Antelope resource.
Infrastructure required for the LNG project includes a jetty and breakwater for the LNG loading facility with expansion potential, and approximately 50 mile (80 Km) pipeline from the Elk and Antelope fields to the coast.
The wells and processed natural gas pipeline from the CSP to the coast in the
Definitive agreements are under negotiation with a view to being finalised by the end of December 2010, assuming completion of engineering and design work, financing and shareholder agreements with EWC, and further regulatory approvals.
The current schedule aims for these LNG facilities to be operational by late-2013, hoped to coincide with the start-up of the proposed CSP joint venture with Mitsui.
About InterOil
InterOil Corporation is developing a vertically integrated energy business whose primary focus is
InterOil’s common shares trade on the NYSE in US dollars.
About Energy World Corporation Ltd.
Energy World Corporation Ltd (EWC) is an integrated energy company based in Hong Kong and listed in