 Click to enlarge map showing Papuan Basin setting |
World-Class Oil and Gas Exploration Potential
The Papuan Basin is an onshore/offshore basin located between Papua New Guinea and
the northern margin of Australia. The Basin covers an area of over 600,000 sq km.,
and while exploration is still at an early stage, it is believed to have major
undiscovered oil and gas discovery potential. Significant moves to commercialize
existing gas reserves are in progress, while oil production continues at sustained levels.
Exposure to Significant Gas Discoveries
Trans-Orient has been involved in exploration activities, directly and
indirectly in Papua New Guinea since the mid 1990's, and was a previous joint venture partner
in the permit areas containing the Stanley, Elevala and Douglas gas discoveries. In 2000,
due to weak equity markets, Trans-Orient sold its direct PNG interests but the Company's
operational understanding will be beneficial to secure attractive new interests as they arise.
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