NGE chairman John Towner used the Australia and PNG-listed company's annual general meeting to detail its energy ambitions and talk up the JV partnership possibilities.

"There is no shortage of interested potential partners," Towner said.

"To date, 26 oil and gas companies worldwide have been in discussion with us over the last few months. Some of them are very large multi-national companies looking for large acreage and we hope to have an agreement in the next quarter."

He said the company had been actively looking for a well-funded JV partner who could add to the company's "already strong technical skills and take on the next stage risks of exploration".

Towner forecast a re-rating of NGE's share price when it finds a suitable partner.

Noting the combination of increasing global demand for oil and rising prices, he said this was "good news for our industry sector".

NGE holds around 52,000 square kilometres of oil and gas acreage within the Papuan Basin.

Earlier this month NGE debuted on the Port Moresby Stock Exchange via a compliance listing in the exempt foreign entity category.

New Guinea Energy's Australian Securities Exchange-listed shares gained 2c to 16c.