Cott, Transform expect PSC round for Papua block soon
Wednesday, March 12 2014 - 04:49 AM WIB
By Alexander Ginting
ASX-listed oil, gas firm Cott Oil and Gas Limited has completed study on South East Papua exploration block potential with PSC round expected in the first quarter of this year.
The company, together with the would-be operator Transform Exploration had entered into a Joint Study Participation Agreement to make application to conduct a data gathering evaluation of the oil and gas prospectivity of an area in South East Papua last year.
Cott has a 25% interest in the joint study with Transform Exploration holding the balance.
Transform Exploration is chaired by John Akehurst, former CEO of Australian firm Woodeside Petroleum.
Editing by Reiner Simanjuntak