Licence Overview
- Interest: 100%
- Location: Offshore Papua New Guinea
- Status: Early-stage exploration
- Relationship to PPL 579: Adjacent and geologically linked
Extending the play beyond the flagship discovery area
PPL 695 is a large offshore exploration licence that directly complements PPL 579, extending Larus Energy’s position across a highly prospective offshore PNG basin.
The licence provides significant long-term growth optionality and forms a critical part of the Company’s basin-scale exploration strategy.
PPL 695 was awarded in 2024 and benefits directly from the technical work, data and insights generated across the Company’s broader portfolio.
Strategic Significance
PPL 695 lies within the same regional petroleum system as PPL 579 and is positioned along interpreted hydrocarbon migration pathways.
This setting provides:
- Direct geological continuity with the Nanamarope play
- Exposure to multiple leads with future appraisal and exploration potential
- Basin-wide upside leveraged from a single discovery
Success within PPL 579 would materially de-risk PPL 695, elevating its prospectivity and strategic value.
Optionality and Leverage
The licence benefits from:
- Shared technical understanding and datasets
- Existing exploration workflows and expertise
- Operational and logistical synergies with PPL 579
This creates a highly leveraged growth opportunity where incremental success can unlock substantial additional value.
Platform for Long-Term Growth
PPL 695 positions Larus Energy as a first mover across a new offshore PNG petroleum province.
Over time, the licence has the potential to support:
- Follow-up exploration and appraisal activity
- Portfolio expansion through additional discoveries
- Long-term development and monetisation opportunities
Together with PPL 579, PPL 695 provides scale, continuity and optionality within a single, coherent exploration portfolio.