A wealth of opportunity
Key attractions for investors in PEAK’s find of a new energy source in the New Ireland Basin include:
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Ground floor opportunity with a First Mover in a frontier region.
PEAK is the First Mover in the identification of oil and gas deposits in the New Ireland Basin and holds extensive exploration rights in the area.
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The potential for substantial hydrocarbon production volumes.
PEAK’s portfolio covers an area which is five times larger than the super-giant Poza Rica oilfield in Mexico. Our tenements cover 60,000 square kilometres (14.9 million acres) which is the same size as Ireland or West Virginia. > Tenements
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Closer access to the energy-hungry markets of Asia.
Transport of LNG from the Exotica North Gas Prospect to key Asian markets would be cut by 25 to 40 per cent relative to other LNG plants in the Australia-Papua New Guinea region. This could easily shift our LNG production costs into the lowest quartile of global producers.
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Strong local energy demand from PNG.
PEAK has a role to play in energising the future of PNG. As part of the PNG Electrification Partnership, the governments of Australia, USA, Japan and New Zealand have pledged to help PNG meet its target of connecting 70% of the country to electricity by 2030.
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Ideal weather conditions for exploration and production.
The equatorial location of the New Ireland region makes for benign doldrum conditions and a cyclone-free exploration and production environment.
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Excellent local transport facilities & infrastructure.
New Ireland Province has well-developed transport facilities including two major airports, a sea port and a major highway. International air carriers, Air Niugini, Qantas, Philippine Airlines, Virgin and Solomon Airlines, fly from Australia, Manila, Hong Kong, Singapore, and Tokyo, direct to Port Moresby.
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Long term demand for LNG for essential energy supply.
Energy demand from Asia currently outstrips supply. Asia’s demand for gas is set to double over the next 10 years as gas displaces coal and supports industrial output. Events over recent years have demonstrated that gas is essential to energy security. Source: Wood Mackenzie, Global Gas, LNG and the Future of Energy Conference, London Nov 2023. Source: WoodMac Conference (external link)
