LNG Energy Enters Into Farm-In Agreement in Papua New Guinea With Heritage Oil PLC

LNG Energy Enters Into Farm-In Agreement in Papua New Guinea With Heritage Oil 
PLC 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/02/13 -- LNG
Energy Ltd. ("LNG") (TSX VENTURE:LNG) is pleased to announce that its
subsidiaries, Telemu No. 18 Limited ("Telemu"), LNG Energy (PNG)
Limited and LNG Energy No. 2 Limited, have entered into a farm-in
agreement with wholly owned subsidiaries of Heritage Oil Plc
("Heritage"). In exchange for an 80% participating interest in the
PPL 319 and PRL 13 licenses, Heritage will make a cash payment to
Telemu of US$4 million, fund the acquisition of a minimum of 100 km
of seismic within the license areas and fund the drilling of one
exploration well in PPL 319 to a depth sufficient to test identified
exploration targets. Closing is subject to certain conditions
including customary government approvals. On closing, Heritage will
become the operator under both licenses. 
"We are pleased to welcome Heritage to PNG and to our PPL 319 and PRL
13 licenses. Heritage's investment, particularly with regards to the
Tuyuwopi prospect previously identified on PPL 319 will greatly
advance the project. Heritage has been an extremely effective
explorer and we look forward to working with them as we continue to
actively explore a very prospective area in Papua New Guinea,"
commented David Nelson, President & CEO of LNG.  
The acquisition phase of the 22 km seismic program by LNG announced
on January 24, 2013 was completed on March 31st. Upon closing,
Heritage has the option of expanding the seismic program during the
current dry season.  
LNG is a Canadian exploration and development company focused on
developing oil and gas reserves in Papua New Guinea, Poland and
Bulgaria. Prior to completion of the farm-out with Heritage, LNG
holds in Papua New Guinea a 68.5% interest in 4 PPLs (which covers
approximately 5.5 million acres) and 100% interest in PRL 13 (which
covers approximately 42,000 acres). LNG has a 20.18% net interest in
approximately 734,000 gross acres of prospective shales in Poland
together with BNK Petroleum Inc., Sorgenia E&P S.p.A., and
Rohol-Aufsuchungs Aktiengesellschaft. LNG is operator and has a 50%
net interest in approximately 360,000 gross acres of prospective
shales in Poland together with San Leon Energy. LNG has entered into
a farm-in agreement relating to 405,080 acres of prospective
argillite formation in Bulgaria with Direct Petroleum Bulgaria EOOD,
a subsidiary of TransAtlantic Petroleum Ltd. LNG shares trade on the
TSX Venture Exchange under the symbol "LNG". 
LNG ENERGY LTD. 
David Nelson, President & CEO 
Cautionary Note Regarding Forward-Looking Statements 
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws, including information regarding the closing
of the transactions and the fulfillment of Heritage's obligations
under the farm-in agreement, and the size and timing of the seismic
acquisition. Forward-looking information is based on plans and
estimates of management at the date the information is provided and
certain factors and assumptions of management, including that closing
conditions will be satisfied and that the transactions with Source
will close. Forward looking information is subject to a variety of
risks and uncertainties and other factors that could cause plans,
estimates and actual results to vary materially from those projected
in such forward-looking information. Factors that could cause the
forward-looking information in this news release to change or to be
inaccurate include, but are not limited to, the risks related to
unsatisfactory results of due diligence, international operations and
doing business in foreign jurisdictions, risks associated with the
oil and gas industry and exploratory and development activities
generally (e.g., operational risks in development, exploration and
production, delays or changes in plans with respect to exploration or
development projects or capital expenditures, risks associated with
equipment procurement and equipment failure), the risk of commodity
price and foreign exchange rate fluctuations, risks related to future
royalty rate changes, and risks and uncertainties associated with
securing and maintaining necessary regulatory approvals, and
counterparty risk related to the stability and viability of the
Company's joint venture participants. 
Shares Outstanding: 338,719,365 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
LNG Energy Ltd.
Investor Relations
+1 778 373 0103
+1 604 639 4670 (FAX)
info@lngenergyltd.com
 
 
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