Papua New Guinea:

KUTh Energy Inks Deal with Kula Energy to Develop Papua New Guinea Projects (Proactive Investors Australia)

KUTh Energy, based in Sydney, has formalized a deal with Kula Energy to advance its geothermal projects in Papua New Guinea (PNG).

Under the deal, Kula will take a 49.8% interest in KUTh subsidiary in PNG for an initial cash injection and contributions of working capital and management expertise.

KUTh currently has mineral exploration licence applications lodged in West New Britain, Lamelele and Salamo, both in Fergusson Island in PNG.