Company Overview and News
South Pacific Resources Ltd (ASX:SPB) is preparing to outline capital raising details in the form of a placement, and the ASX has granted the company a trading halt to prepare. South Pacific's shares recently received a positive re-rating following Minister Micah’s statements in the Papua New Guinea press, confirming the State’s commitment to develop the unconventional hydrocarbons industry within the country.
South Pacific Resources Ltd. welcomed comments by Papua New Guinea's (PNG) Minister for Petroleum and Energy Ben Micah Thursday confirming the government's commitment to develop unconventional hydrocarbons industry in the country.
Australia's South Pacific Resources Ltd., a Papua New Guinea (PNG) -focused conventional and unconventional oil and gas exploration company, reported Monday that the company's 75-percent owned subsidiaries in the country have lodged applications for five unconventional hydrocarbon prospecting licenses, covering 28,958 square miles (75,000 square kilometers), encompassing all of the prospective areas identified in its country-wide screening.
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