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Australia/New Zealand: Kea Petroleum announces interim results - updates operations
23 Feb 2012
Kea Petroleum, an AIM listed oil and gas exploration company with interests in four petroleum exploration permits in New Zealand’s Taranaki Basin and one exploration permit in Australia’s Surat Basin, has announced its Interim Results for the six months ended 30 November 2011.
Operational Highlights
2012 Drilling Schedule:
- Puka-1 Q1 - Drill to 1600m depth
- Mauku-1 Q1 - Drill top hole only with shallow rig
- Mauku-1 Q2 - Deepen to 3400m
- Douglas-1- H2 - Drill to 3000m depth
- Angus-1 Q2 - Drill to 1500m depth
- Mercury - Q2 - Offshore 3D seismic survey
Financial Highlights
- Cash on hand at 30 November 2011 £10.7M
Chairman, Ian Gowrie-Smith said: 'Kea plans to drill four or more wells on four different prospects commencing imminently. Two of these targets are shallow Mt Messenger plays and two are deeper targets looking for both oil and gas. It has been a long time since the Company's immediate future was so exciting. A successful completion of this phase of Kea's development will reward shareholders for their patience.'
Click here for full announcement.
Source: Kea Petroleum
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