Larus Energy Limited is an Australian public unlisted petroleum exploration company, incorporated in New South Wales, Australia on 23 November 2009, operating Petroleum Prospecting License 579 (PPL579) and Petroleum Prospecting License 695 (PPL695) in the Torres Sub-Basin, in the Gulf of Papua, offshore Papua New Guinea (PNG). The company has positioned itself with a dominant acreage position in the relatively un-explored emerging offshore sector of PNG where large prospective hydrocarbon resources are expected.
Larus Energy holds 100% intererest PPL579 and PPL695 through its wholly owned subsidiaries, Larus Energy (PNG) Limited & Larus Energy (PNG No.2) Limited. Both licences are valid until 2030 with the PPL579 license covering over 9,244 km2 and the PPL695 licence covering 5,034 km2.
Third party multi-client seismic data acquired post-2016 has identified the Torres Sub-Bains as a large, likely source rock prone, Australian Continental Margin rift basin overlain by Palaeogene carbonate and Miocene to Pliocene clastic reservoirs. The clastic reservoirs are folded into a toe-thrust fold belt that sets up large simple anticlinal structures. Having recognised this new and highly prospective hydrocarbon play, Larus Energy acquired in conjunction with Searcher Seismic an 1865 km2 3D seismic survey in 2023 which has confirmed the play, the presence of reservoir, seal, direct hydrocarbon indictors and multiple structures with multi-billion-barrel oil equivalent hydrocarbon potential. The pinch-out of these plays to the south occurs in the block PPL695 and is analogous in geometry to the large multi-billion-barrel discoveries that have been made recently in Atlantic Margin plays such as Namibia and Guyana. The Torres sub-basin is yet to be tested by drilling, but a deep-water well in the adjacent PPL576 to test the carbonte reservoir is planned by TotalEnergies at the Mailu Prospect in late 2025. Larus Energy intends to test the Miocene clastic play at the Nanamarope Prospect in PPL579 immediately following the Mailu-1 well.
Larus Energy is a frontier oil and gas exploration company committed to maximising results through the effective identification, acquisition, exploration and management of quality conventional oil and gas assets.
