Canadian companies InterOil and Invicta Oil & Gas have reportedly signed an agreement covering three onshore exploration blocks in
Two of the blocks are currently held by Cheetah Oil & Gas, and one is held by InterOil, said Cheetah, which has sold 90% of its PNG business to Kepis & Pobe Investments which has in turn assigned all its rights and obligations to Invicta. Cheetah said Invicta and InterOil propose to enter into agreements to share data in respect of the three blocks, to undertake a joint exploration and development program in respect of up to four wells on the properties and for offtake arrangements for the supply of gas from the blocks to InterOil’s planned LNG facilities in PNG.
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