Payment to creditors of Kea Petroleum 'highly unlikely': liquidator

Sun, 01 May 2016

By Pattrick Smellie May 2 (BusinessDesk) - A payment to any creditors of the Kea Petroleum group of companies "seems highly unlikely", and depends on the sale of Kea's Mauku-1 exploration permit, says the Deloitte liquidator for the onshore Taranaki oil and gas explorer, which had a London Stock Exchange listing. In his first six-monthly report since the company chose liquidation over a court battle with its primary potential creditor last November, liquidator David Vance warned the sale of Mauku-1, otherwise known as Petroleum Exploratio...

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