South Pacific Resources Limited Stock

South Pacific Resources Limited is an Australia-based company, which is engaged in the exploration and development of oil and gas licenses. The Company is also engaged in investment management activities. The Company operates and holds an approximately 100% working interest in over five petroleum prospecting licenses (PPL) in Papua New Guinea (PNG). The Company's licenses include PPL 356, PPL 357, PPL 366, PPL 367 and PPL 358. These licenses cover an area of approximately 11, 970 square kilometers in both onshore and offshore settings. Its Dibiri & Hiri (PPL 356 and 357) licenses are located in the prospective offshore segment of the Papuan Basin close to the Pandora and Pasca gas discoveries. The Company's Biwai & Turama (PPL 366 and 367) licenses are located in the onshore Papuan Basin close to oil and gas discoveries and production infrastructure. Its PPL 358 license is in the underexplored offshore frontier Cape Vogel Basin.