Cue announces seismic survey
CUE Energy Resources Ltd has announced that the Barikewa 2D seismic survey has started in its petroleum retention licence (PRL) 9 area in Gulf province. The survey would comprise 60km of 2D seismic data and is scheduled to be completed by mid-January next year. The Barikewa gas field was discovered in 1957 by the Barikewa-1 well. The well intersected gas in the Toro and Hedinia sandstones and flowed up to 9mmscf/d on test. No gas-water contact was penetrated. The Barikewa-2 well was drilled in 1982 but failed to intersect hydrocarbons due to unexpected faulting. Company chief executive officer Robert Coppin said to date, the Barikewa structure had only been defined by surface geological mapping and one seismic line recorded in 1997. As such there is significant uncertainty in the field resource size but it is recognized that it may contain a significant gas resource.
Landowner firms form JV
TWO landowner companies from Western and Southern Highlands provinces have joined hands to incorporate a company providing services in engineering (civil, electrical, and information technology). Considered a landmark event with two landowner groups from two different provinces engaging in business, they share provincial borders where petroleum retention licence (PRL) 2 is in Juha. With Juha Allied Engineering Ltd (JAEL) now established, they aim to participate in the spin-off business activities created by the PNG liquefied natural gas (LNG) project. JAEL is the incorporated company from the proponents of Juha Sustainable Development Corp Ltd (JSDC) – an umbrella company for Western province and Juha Hela Enterprise Ltd (JEL), also an umbrella firm from Southern Highlands.