Transeuro Energy Corp. (CVE:TSU) updates on the Ubuntu discovery in PPL-259 in Papua New Guinea.
Transeuro Energy Corp. (TSXV:TSU) updates on the Ubuntu discovery in PPL-259 in Papua New Guinea.
The press release is quoted as saying:
Transeuro has a back-in option to acquire 10% of all four Petroleum Prospecting Licenses held by Eaglewood in PNG after three wells have been drilled on the licenses by paying 10% of the exploration costs and exercisable within 60 days of the completion of the third well. The Ubuntu-1 well is the second of the three wells.