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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Kea Petroleum | LSE:KEA | London | Ordinary Share | GB00BRTL3035 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.15 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMKEA
RNS Number : 0481F
Kea Petroleum PLC
11 June 2012
For Immediate Release 11 June 2012
Kea Petroleum plc
("Kea" or the "Group")
PUKA 1 FIRST FLOW TESTING RESULTS
EXCELLENT QUALITY LIGHT OIL
Swabbing operations at Puka-1 produced oil and gas to the surface almost immediately. Initial independent field analysis of the oil showed it to be of excellent quality light oil with a density of 43.7 Degrees API and a relatively low pour point of 15 Degrees Centigrade.
Preparations are currently underway to commence a longer term production testing of the well to establish production rates and reservoir characteristics.
The 100% owned Puka-1 well is in permit PEP 51153 within New Zealand's onshore Taranaki Basin. Kea announced on 10 April that Puka-1 had intersected a 40m interval of Mt. Messenger reservoir quality sands with a net pay of between 4.5m and 9m. Kea has not altered its original estimate of gross recoverable resource of one million barrels of oil with a potential upside of up to three million barrels of oil.
Further information will be released as it becomes available.
Ian Gowrie-Smith, Chairman said:
"These results could not be better or more encouraging. If further testing confirms our expectations, Puka-1 will transform Kea into a profitable oil producer."
Testing operations are continuing at Douglas.
This release has been approved by non-executive director Peter Mikkelsen FGS, AAPG, who has consented to the inclusion of the technical information in this release in the form and context in which it appears.
To learn more about Kea Petroleum, visit: www.keapetroleum.com or contact:
Kea Petroleum Plc Contact: David Lees, Executive Director Tel: +44 (0) 20 7340 9970 RBC Europe Ltd Contact: Mathew Coakes/Daniel Conti Tel: +44 (0) 20 7653 4000 Buchanan Contact: Tim Anderson Tel: +44 (0) 20 7466 5000
Notes to Editors
Kea Petroleum is an AIM listed oil and gas exploration company with interests in four
petroleum exploration permits in New Zealand's Taranaki Basin. Kea listed on the London market in February 2010.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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