Tnf Holdings Ltd was awarded exploration licence PPL 624 on 21 May 2019. The licence lays across the Madang Province to the north and Morobe to the south over a total area of 17,000 sq km, to the east of the Bismark Volcanic Arc. The area has limited seismic data and no known exploration wells have been drilled, making this one of Papua New Guinea's true frontier areas to explore. PPL 624 is valid for a period of 6 years and will expire, or be considered for renewal, on 20 May 2025.  Although the licence area does not extend offshore, the newly acquire Triok 2D seismic data comes within 10 Km of the licence southern boundary which could perhaps offer some ideas as to the prospectively of the area. Approximately 65 km to the north of the licence boundary, Heritage drilled the Kwila and Raintree wells in 2015 with a technical success in the latter. The last company to hold acreage over the newly awarded area was BIMEX Ltd with licence PPL 314. This expired in 2016.  The APPL 624 application took approximately 18 months to process after being submitted to the Department of Petroleum & Energy 22 November 2017. TnF Holdings also hold two further exploration applications: APPL 630 and APPL 631. The APPL 630 area was awarded as PPL 645 to Sino Industrial in May 2019 and is therefore scheduled for formal refusal. APPL 631 is situated over South Pacific Resource's PPL 367 licence which expired in 2016 and will likely be cancelled upon the country exit of the company â perhaps paving the way for TnF.  TnF Holdings, a new entry in to PNG, was awarded exploration licence PPL 624 on 21 May 2019.
Newcomer Tnf Holdings Ltd was awarded exploration licence PPL 624