PPL 257
PPL 257 is located on the northeast coast of Papua New Guinea within the Cape Vogel Basin. PPL 257 covers an area of approximately 0.9 million acres. There have been no wells drilled within PPL 257. In 2009, Eaglewood completed an offshore seismic acquisition program to acquire modern data over the Buna and Kumasi structures to further investigate the presence of direct hydrocarbon indicators.
In December 2011, a five year extension was granted for PPL 257. Under the terms of the license, Eaglewood has a commitment to drill one well by December 2016. Eaglewood has a 100% participating interest in this license.