Your account already exists. Please login first to continue managing your settings.
Kea Petroleum confirmed that swabbing operations at its Puka-1 well produced oil and gas to the surface almost immediately. Initial independent field analysis of the oil showed it to be of excellent quality, light oil with a density of 43.7° API and a relatively low pour point of 15° centigrade.
Preparations are currently underway to commence a longer term production testing of the well to establish production rates and reservoir characteristics.
The 100% owned Puka-1 well is in Exploration Permit 51153 within New Zealand's onshore Taranaki Basin.
Ian Gowrie-Smith, Kea’s chairman, said, “If further testing confirms our expectations, Puka-1 will transform Kea into a profitable oil producer.”