Larus Energy Limited Managing Director, David Williams presents ‘Unearthing New Oil and Gas Provinces’ at the RIU Good Oil Conference in Freemantle, Western Australia, September 2012Larus Energy is an unlisted company, however, we are ready to list and operate as if we are. With over 460 shareholders and approximately 160 million shares on issue, our recent market cap was 20 cents per share. We have two wholly-owned assets, one in Papua New Guinea and three tenements in the Gippsland Offshore Basin, Australia’s most prolific oil producing Basin.
Larus Energy is about coming back to areas previously looked at, with modern data/techniques and unearthing what was missed decades ago. At our Gippsland tenements - approximately 8,300 square kilometres situated on the southern flanks of the Basin, we’re chasing oil migration out of the Kingfish field up to the Bassian Rise, between Wilsons Promontory and Flinders Island. All work regarding licences has been completed.
PNG is a completely new Basin with permits first granted in 2007. There is a mass of accumulated seismic data over an area of approximately 15,000 square kilometres, which we have worked through and confirmed that hydrocarbons are in fact present.
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