PPL437 & PPL676 Overview – Western Province, Onshore PNG
Heritage holds 100% equity in two highly prospective licences, PPL437 and PPL676, located in the Western Province of onshore Papua New Guinea (PNG). Covering a contiguous area of over 3,000 km², these licences lie between the hydrocarbon-rich PNG Foldbelt and Foreland of the Papuan Basin.
Strategic Location Surrounded by Proven Discoveries
The licences are surrounded by multiple wet gas fields with near-term development expected, including:
- P’Nyang (~4.3 Tcf GIIP)
- Elevala/Ketu (~1 Tcf GIIP)
- Stanley (~400 Bcf GIIP)
These nearby discoveries highlight the technical and commercial appeal of PPL437 and PPL676.
Exploration Portfolio
The exploration portfolio includes one drill-ready prospect and nine leads across multiple play types:
- Malisa Prospect:
A wet gas prospect with an estimated GIIP of ~2 Tcf. Malisa is a basement drape trap with potential for three reservoir units, as proven in offset discoveries. - Additional Leads:
PPL437 hosts an estimated 4.5 Tcf in additional leads. PPL676 offers significant upside, dominated by the frontal fold play, with traps formed by rollover anticlines into basement-related thrust faults.
Key leads include:- Black River East and Pari, large fault-bound structures on-trend with P’Nyang, with potential for up to 3 Tcf (GIIP).
Development & Monetisation Pathways
In the event of a discovery at Malisa, rapid monetisation options are available via:
- Proximity to existing and planned infrastructure
- Early condensate production and gas recycling
- Subsequent gas blowdown
The nearby P’Nyang Field—part of the Exxon-led PNG LNG project—lies just north of PPL676, with a large (500m+) gas column within 2 km of the block boundary. P’Nyang is undergoing fast-track development for integration into the PNG LNG infrastructure.
Exploration Activity
An active exploration program is underway, including:
- G&G studies
- Planned drilling of Malisa within the next two years
- Seismic acquisition over PPL676 leads (Pari and Black River East)
