PNG junior lowers target for second shot at listing

NEW Guinea Energy has launched a second, smaller initial public offering to raise $A17 million ($US14.9 million) to fund exploration of its PNG acreage.

PNG junior lowers target for second shot at listing PNG junior lowers target for second shot at listing PNG junior lowers target for second shot at listing PNG junior lowers target for second shot at listing PNG junior lowers target for second shot at listing

Proceeds from the issue of 68 million shares at 25c each will be used to fund a 100-km 2D seismic survey in petroleum prospecting licence 267 to delineate prospects for drilling and new leads, as well

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