OilVoice Morning Movers - Kea Petroleum, Gold Oil and Gasol

Thursday, February 14, 2013

Kea Petroleum (LON:RRL) announced this morning that it has made an oil discovery in a new sand reservoir at Puka 2 in the lower Mount Messenger "Mako" Sands.

Ian Gowrie-Smith, Chairman of Kea Petroleum, commented: "We are delighted to have again struck oil at Puka. This new discovery, with its high quality sands, is likely to have much better flow rates than Puka 1. Kea can now look forward with confidence to an early and substantial cash flow."

Broker FoxDavies said: 'Today's announcement that Kea's second well in its Puka asset has intersected an oil reservoir in the lower Mako sands. While testing will be required to evaluate what this discovery means for recoverable reserves, the discovery of deeper prospectivity is a positive step forward for the commerciality of the field.

Kea Petroleum are currently trading at 10.01 pence a share, up 33.50% on opening.

Gold Oil (LON:GOO) confirmed this morning that increased its interest in the Nancy Burdine field to 100% interest.

Broker FoxDavies said: 'Following what has been a difficult period for the Company, any improvement in fortunes, no matter how small, should be welcomed, and while there needs to be a continuation of news such as this for a discernible pattern to be established, the outlook, on the basis of the performance of management since the shares have returned from suspension, is promising.'

Gold Oil are currently trading at 1.90 pence a share, up 7.34% on opening.

Gasol (LON:GAS) shares have risen by 7.74% this morning and are currently trading at 16.70 pence a share.

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

Join 70,000 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!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Eight pieces of our oil price predicament
    A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so ...

» More Opinion & Commentary         » Write for us             RSS RSS

Oil & Gas Training

Mastering 4D Seismic
Ian Jack, London, 06 Nov 2014

Petroleum Geology of West Africa
Duncan Macgregor, London, 12 Nov 2014

Introduction to Contingency Planning: The value to oil and gas companies in high-risk areas
Mark Theobald, London, 18 Nov 2014

All Upcoming Training

Opinions & Commentary

Oil price, Shell, Cairn, Gulf Keystone, Sundry-Eni-Afren-NTOG- And finally...

by Malcolm Graham-Wood

Read More »