Kea announces commercial oil find at Puka, plans 2nd well

Mon, 24 Sep 2012

Sept. 25 (BusinessDesk) - London-based New Zealand oil and gas explorer Kea Petroleum has announced a commercial oil discovery following flow-testing at its onshore Taranaki Puka-1 well, and is to commence a second well quickly to produce early cashflow. Listed on the secondary AIM board, Kea said Puka-1 had produced a maximum flow rate of 310 barrels of oil per day and 1.8 million cubic feet of gas daily, with a testing programme now determining the best production arrangements for future field performance. Meanwhile, planning for Puka-2 is...

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