EXPLORATION

Rift lands farm-in with oil major

RIFT Oil has reached an agreement on a farm-in deal with an unnamed major multinational oil company to fund the drilling of up to four wells and 100 kilometres of seismic in its PPL 235 licence in PNG's Western Province.

Blair Price

The licence was home to Rift's successful Puk Puk-1 discovery well, with independent analysis last month confirming it was capable of producing more than 100 million cubic feet of gas per day. Rift...

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