Wednesday, 16 May 2012

T-2 delivers as trouble brews for Gulf LNG (Wednesday, 16 May 2012) INTEROIL has flowed gas at a rate of 17.6 million cubic feet per day in a drill stem test of the Triceratops-2 appraisal well in Papua New Guinea’s Gulf province, while the condensate to gas ratio varied between 13.6 and 16.3 barrels per MMcf. Full Story... Political circus hits the road: opinion (Wednesday, 16 May 2012) THE latest scaremongering rumours amounted to nothing, with Parliament finally dissolving yesterday ahead of the most anticipated election in Papua New Guinea’s history. Full Story... Santos runs amongst the bulls at PNG LNG (Wednesday, 16 May 2012) A THIRD and possibly fourth train at PNG LNG is closer to an inevitability than a possibility, especially if drilling at the Hides fields meets expectations according to Santos chief David Knox. Full Story... We were right to oust unpopular prime minister: O’Neill (Wednesday, 16 May 2012) PNG Prime Minister Peter O’Neill took the opportunity to take the media to task in his keynote opening address at the 28th Australia-Papua New Guinea Business Council forum and expo in Brisbane. Full Story... Economic traps PNG needs to avoid (Wednesday, 16 May 2012) ECONOMIST Matthew Morris offered some interesting tips yesterday to prevent Papua New Guinea falling into the economic cesspool that has enveloped resource-rich countries like Nigeria and Angola. Full Story... Forum delegates in danger of being trampled (Wednesday, 16 May 2012) WHILE there was a definite political flavour to the first day of the Australia Papua New Guinea Business Forum in Brisbane, the “elephant in the room” was never far from centre stage. Full Story... Star project (Wednesday, 16 May 2012) HIGHLANDS Pacific has landed a vast 406m intersection grading 0.61% copper and 0.78 grams per tonne gold at its Star Mountains project in Papua New Guinea. Full Story... Dryblower on the great conversion of BHP Billiton (Wednesday, 16 May 2012) NOT since the conversion of St Paul on the road to Damascus has Dryblower heard of a more dramatic transformation than BHP Billiton’s revelation that it is not so much a mining company as a business focused on shareholder returns. Full Story...

Monday, 14 May 2012

Fourth train speculation (Monday, 14 May 2012) THE success of the P’nyang South appraisal well and its sidetrack in Papua New Guinea’s Western province has led to speculation a third train of the $US15.7 billion PNG LNG project is a certainty, with discussion even emerging over a possible fourth train. Full Story... Election on track: O’Neill (Monday, 14 May 2012) DESPITE speculation the PNG election could still be delayed, Prime Minister Peter O’Neill has provided reassurance this will not happen. Full Story... Watch the books (Monday, 14 May 2012) ACCOUNTING-related fraud can affect any business anywhere in the world. PNG Report delves into some of the tried and proved techniques in Papua New Guinea. Full Story... Gold Anomaly boosts drilling coffers (Monday, 14 May 2012) EXPLORER Gold Anomaly has landed up to $A7.6 million of funding from New York-based Bergen Asset Management which will help advance exploration at the Crater Mountain project in Papua New Guinea. Full Story... Doubt over Sinivit deal (Monday, 14 May 2012) NEW Guinea Gold is facing a severe cash squeeze while a possible acquisition of the small gold miner by PNG Gold Corporation appears less likely to eventuate. Full Story... Palmer to sue SMH for $50M (Monday, 14 May 2012) MINING magnate Clive Palmer will seek damages of $A50 million from the Sydney Morning Herald after the paper reported Swiss energy trader Vitol had terminated a $40 billion coal supply contract for the proposed China First project in the Galilee Basin. Full Story... AngloGold commits funds for growth (Monday, 14 May 2012) SOUTH African major AngloGold Ashanti has approved an investment of $US1.9 billion ($A1.88 billion) for three major growth projects to boost annual production by around half a million ounces of gold. Full Story... Inpex’s spending splurge (Monday, 14 May 2012) JAPANESE major Inpex will work to aggressively acquire assets and pursue mergers and acquisitions in a bid to double its output. Full Story...

Friday, 11 May 2012

New twist in Rinehart fight (Friday, 11 May 2012) AUSTRALIAN mining magnate Gina Rinehart has reportedly given up her discretion to split the fortunes of the family’s multi-million dollar trust unevenly between her four children. Full Story... Chicken Little is a chook (Friday, 11 May 2012) AFTER decades of trying to make sense of the daily finance grind Michael Pascoe* has come to the earth-shattering conclusion that when it comes to China, Chicken Little is really a chook. Full Story... Blood on the bourse (Friday, 11 May 2012) IN WHAT is a common theme for tougher trading days, fearful news flow from the European economic front has hit commodities and resource stocks. Most PNG-related stocks are in red territory for the overall week. Full Story... Ok Tedi-scale target: Harmony (Friday, 11 May 2012) HARMONY Gold has won an exploration licence in Papua New Guinea’s Southern Highlands which it considers prospective for Ok Tedi-style copper-gold mineralisation. Meanwhile, gold production has dived by almost 40% at its Hidden Valley mine. Full Story... I want to be PM: Namah (Friday, 11 May 2012) DEPUTY Prime Minister Belden Namah aims to become PM, reportedly donating 30 million kina ($A14.6 million) of his own funds to the party he leads to help win votes. Meanwhile, veteran politician Sir Mekere Morauta is retiring from politics. Full Story... Institutionalised corruption: task force findings (Friday, 11 May 2012) TASK Force Sweep corruption investigators believe PNG government departments have descended into a “mobocracy”, with the watchdog reportedly planning to refer 20 politicians and 24 public servants to the Ombudsman Commission over corruption concerns. Full Story...

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