A wealth of opportunity
Key attractions for investors in PEAK’s discovery 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.
As the First Mover in the identification of oil and gas deposits in the New Ireland Basin, PEAK has 100 per cent exclusive rights to all relevant tenements in the region.
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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, which has a production history of 2.8 billion barrels. 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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Easy and fast access to the energy-hungry markets of Asia.
Energy demand from Asia currently outstrips supply. Today, the Asian market consumes 35 million barrels of oil per day (b/d). Demand is projected to grow 60 per cent by 2040 to 55 million b/d. Source: BP Statistical Review of World Energy (external link)
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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. Source: PNG Electrification Partnership (external link)
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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 petroleum to manufacture essential products.
Petroleum products will be used for many years to come for essential products. These include fuels for planes, shipping and motor vehicles, and heating and electrical needs. Petroleum is also an essential component in most plastics, synthetic materials, and agricultural fertilizers.
