Kea Petroleum announce Puka 1 strikes oil

Tuesday, April 10, 2012
  • Independent petrophysical analyses of electric logs indicate a minimum of 4.5m of moveable hydrocarbons in good reservoir quality sands.

Kea Petroleum PLC is pleased to announce that the 100% owned Puka 1 well has reached its planned target depth of 1550m on time and within budget. A 40m interval near 1400m depth, contained several Mt Messenger reservoir quality sands, with a net to gross sand ratio over the interval of approximately 20%.

Independent petrophysical analyses of electric logs indicate a minimum of 4.5m of moveable hydrocarbons in good reservoir quality sands. These are most likely a light oil, somewhat gassier towards the top of the interval.

Both the depth at which these sands were encountered, and their extent, are in line with pre drill expectations, and at this stage the Company has not altered its original estimate of gross recoverable resource of one million barrels with a potential upside of up to three million barrels.

The well has been cased and suspended pending flow testing and, if warranted, long term production. The timing of initial flow testing will be determined by the availability of equipment.

Further information will be released as it comes to hand.


Article Tags

Kea Petroleum New Zealand Australasia AIM Operations Update


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


Related News

Popular Headlines View all
Latest Opinion View all
Join 80,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

About

OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Newsletter

Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact Us

Milton Keynes
United Kingdom
Phone: +44 207 993 5991
Contact Us


Stay Connected


2014 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us