The permit area covers 5,346 kms2 and has a term of 6 years. Wondecla Limited has entered into a Farmin Agreement with Kina Petroleum Limited to earn a 50% interest by contributing a 50% share of the application costs and permit fees to earn its interest. The application for PPL 435 has been processed with the licence granted to Kina Petroleum Limited, and Kina Petroleum Limited has accepted the grant.
PPL 435 is 45km and south west and up dip from PRL 21 which is host to the Elevala and Ketu gas fields. The primary reservoir for the Elevala and Ketu Fields is basal Cretaceous sandstone, the Elevala Sandstone. Lake Murray 1 confirms gas has migrated as far as PPL 435.