InterOil announced that the PNG Department of Petroleum and Energy has approved the company’s application for Petroleum Retention License 39, which includes the Triceratops discovery.
Additionally, InterOil is providing further clarification regarding the fixed and variable payments agreed to with Total Sin relation to the sale of a gross 61.3% (net 47.5%, after PNG government back-in of 22.5%) in PRL 15, which includes the Elk and Antelope fields. The Sale and Purchase Agreement, which has been filed on SEDAR and with the SEC on Friday, stipulates both fixed and variable payments as previously disclosed.
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LNG World News Staff, December 9, 2013; Image: InterOil