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Response to Notice of Cancellation of PPL 560

Source: www.gulfoilandgas.com 5/10/2018, Location: Asia

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Rawson Oil and Gas Limited (Rawson) has an interest in Papua New Guinea (PNG) Petroleum Prospecting Licences (PPL) 549 and 560 as well as a number of PPL applications via its 60% ownership share in Dondonald Limited (Dondonald).

Dondonald, as operator of PPL 560, has received a ‘Notice of Cancellation of Petroleum Prospecting Licence (PPL) No. 560’ document signed by the Minister for Petroleum of Papua New Guinea, Dr Fabien Pok (Notice). Dondonald has not received any cancellation notices for any of the other licences under its operatorship.

Rawson, Dondonald and their external legal counsel believe that the Minister’s purported cancellation of licence PPL 560 cannot be justified. Accordingly, on 8 May 2018 Dondonald applied for an injunction enjoining the Minister from cancelling PPL 560 and from issuing a licence to any third party over the same blocks as covered by PPL560. In addition, Dondonald has applied for a judicial review of the Minister’s decision to cancel PPL560.

Rawson and Dondonald will continue to work with the Minister’s office and the PNG Department of Petroleum and Energy to resolve all outstanding issues with respect to PPL 560.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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