Corporate ProfileAbout Us
Esrey Energy Ltd. ("Esrey"), formerly LNG Energy Ltd., is a Canadian exploration and development company focused on developing extraordinary oil and gas potential in Papua New Guinea and Bulgaria.
In Papua New Guinea, Esrey has assembled a strategic, world-class portfolio of acreage holding a 50.55% net interest in PPL 486 (which covers approximately 530,000 acres), an 84.25% interest in PPL 321 in northern Papua New Guinea (which covers approximately 1.8 million gross acres) and a 60% net interest in PRL 13 (which covers approximately 42,000 gross acres).
In April 2013, Esrey entered into a farm-in agreement with subsidiaries of Heritage Oil Ltd. under which those subsidiaries acquired an effective 40% interest in PPL 319 (now PPL 486) and PRL 13, after having notified the Company in September 2015 of its intention to not meet all of its agreed commitments. Previously under the farm-in agreement, 235 km of 2D seismic data was acquired advancing the Tuyuwopi prospect in PPL 486 to the drilling stage and further defining multiple prospect leads. Esrey is operator of all its Papua New Guinea licenses.
In September 2011, Esrey Energy entered into a farm-in agreement with a wholly owned subsidiary of TransAtlantic Petroleum Ltd. ("TA") to jointly appraise a portion of the A-Lovech Exploration license located in north western Bulgaria. Through this farm-in agreement, Esrey holds the rights to a 50% working interest in the resulting Production Concession (to be known as the Stefanetz Concession), which may be granted by the Bulgarian Government.
Esrey Energy shares trade on the TSX Venture Exchange under the symbol "EEL".