New Guinea Energy gives notice to delist from POMSoX

New Guinea Energy Ltd (NGE) had appealed for a voluntary delisting from the Port Moresby Stock Exchange (POMSoX) next month.

In a statement to POMSoX, NGE states the Company has been listed on POMSoX since mid-2008, and over this period there has been minimal trading on POMSoX to warrant further administrative costs to be incurred by the Company, which could be utilised in other aspects of the business.

It has proposed June 22, 2016 as the last day of trading and on June 29 the delisting will take effect.

NGE is an Australian company that has historically focused on oil and gas exploration in Papua New Guinea (PNG).

The company holds two onshore Petroleum Prospecting Licenses (PPL) in Western Province. 

Author: 
Charles Yapumi