New Guinea Energy Ltd
ASX:NGE ISIN:AU000000NGE5
New Guinea Energy Ltd (NGE) is engaged in exploration for oil and gas in Papua New Guinea. The Company owns 100% of six granted Petroleum Prospecting Licenses (PPLs 265, 266, 267, 268, 269 and 277) covering an area (in aggregate approximately 52,810 square kilometers or approximately 13,049,635 acres) of oil and gas prospective acreage in the foreland and foldbelt structural terrains of the western and southern highlands of Papua New Guinea (PNG). The Company’s subsidiaries include Engelberg Limited, Kingsbury Limited, Kirkland Limited, Ladysmith Limited, NGE Administration Limited, Roebuck Limited and Taylor Limited.
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News
Asian Activities Report for September 19, 2011 includes: Alkane Resources Limited (ASX:ALK) has completed the Definitive Feasibility Study for its Dubbo Zirconia Project in New South Wales; New Guinea Energy Limited (ASX:NGE) reported today that the Siphon-1 wet gas well in Papua New Guinea had reached a depth of 3863.7 metres; Lemur Resources Limited (ASX:LMR) has signed a Memorandum of Understanding with Jiro sy Rano Malagasy; ActivEX Limited (ASX:AIV) announced further significant gold/silver intersections at the Barambah project; Time Technoplast Limited (BOM:532856) will commence its industrial packing project in Malaysia at the end of Q1, 2012.
Wall Street Friday climbed to a fresh 2009 high as analysts boosted their growth outlook for the US. The market was inspired after Barclay's Capital raised its forecast for the nation's GDP growth in first three months of next year to five per cent from three per cent. For the week, Dow index posted a gain of 215 points.
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