Named the ‘Exotica North Gas Prospect’, privately owned Australian oil and gas exploration company, Peak Oil (PNG), made the discovery in 2017, and confirmed the presence of LNG this year, where they made the announcement at the 17th PNG Resources and Energy Investment Conference in Sydney on Tuesday, December 12th.
“We’ve got two petroleum prospecting licences between Lihir Island and New Ireland – the mainland,” said the Board Chair of PEAK, Professor Brent McInnes, who went to New Ireland in 1988 for his research studies.
