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 (PPL 579) in the Torres Basin, Papua New Guinea. The company has positioned itself to participate in the forecast growth of PNG’s oil and gas sector.
Larus Energy is solely focused on PPL 579 and holds a 100% interest in the license through its wholly owned subsidiary, Larus Energy (PNG) Limited. The license has both onshore and offshore targets across a highly prospective area covering over 9,244 km2.
The area covered by PPL 579 has had minimal exploration work undertaken over it. Larus Energy, in the first stage, is conducting an intensive exploration program to develop a number of drillable prospects for the next stage. Larus Energy then proposes to drill one or more wells to test the prospectivity of PPL 579.
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.
Larus Energy seeks to create wealth for its shareholders through the acquisition, assessment and exploitation of petroleum assets in an efficient and expeditious manner.