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3 Feb 2012 11:00
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For Immediate Release 3 February 2012
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Β Drillforce Rig 1
Selected For Well Programme
Kea Petroleum plc ("Kea") (AIM:KEA), the New Zealand-based oil and gas exploration company, is pleased to announce the selection of Drillforce's Rig 1 for a 2 + 1 (optional) well programme. The rig is expected to be mobilised first to Kea's Puka-1 wellsite, located in Kea's onshore Taranaki, New Zealand permit area PEP 51153, east of Stratford, near to the successful Copper Moki field. The Directors believe site preparations are progressing well and are on schedule for rig delivery to site on or around 15 February 2012.
Kea has also opted to use the Drillforce rig to install the top section of conductor casing at the Mauku-1 wellsite, in Kea's onshore and offshore Taranaki permit area PEP 381204, in preparation for the main drilling phase.
Drillforce's Rig 1 is a DSM Mayhew rig, purpose built for shallow oil and coal seam gas drilling. The rig was developed in 2009 and is operated by Drillforce's experienced crew. Although Drillforce is new to the oil industry, the Directors of Kea believe it to be a highly capable operator utilising new equipment and experienced crew, and look forward to a continued relationship between the companies.
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For further information please contact:
Kea Petroleum plc Tel: +44 (0)20 7340 9970
David Lees, Executive Director
RBC Capital Markets Tel: +44 (0)20 7653 4000
Matthew Coakes / Daniel Conti
Buchanan Communications Tel: +44 (0)20 7466 5000Tim Anderson /Isabel Podda
Notes to Editors:
Kea Petroleum is an AIM listed oil and gas exploration company with interests in four petroleum exploration permits in Taranaki and Northland Basins of New Zealand and two permits in Australia. Kea listed on the London market in February 2010.
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