CTOs on the Move

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 16.85% net interest in PPL 319, an 84.25% interest in 1 additional PPL in northern Papua New Guinea (which covers approximately 1.8 million gross acres) and a 20% net interest in PRL 13 (which covers approximately 42,000 gross acres). Esrey has entered into a farm-in agreement with subsidiaries of Heritage Oil Ltd. under which those subsidiaries ...

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 16.85% net interest in PPL 319, an 84.25% interest in 1 additional PPL in northern Papua New Guinea (which covers approximately 1.8 million gross acres) and a 20% net interest in PRL 13 (which covers approximately 42,000 gross acres). Esrey has entered into a farm-in agreement with subsidiaries of Heritage Oil Ltd. under which those subsidiaries acquired an 80% interest in PPL 319 and PRL 13, subject to fulfilment of work commitments under the farm-in agreement. The 16.85% net interest in PPL 319 and 20% net interest in PRL 13 assumes that Heritage Oil Ltd. will fulfil its work commitments and earn its full 80% farm-in. 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".

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