KPL 0.00% 5.7¢ kina petroleum limited

Exciting - Oil Search quarterly

  1. 734 Posts.
    Wonder why Kina didn't announce this farmout to Total when it occurred.

    From today's Oil Search (OSH) quarterly report:

    "In December 2015, Oil Search completed a farm-in to PPL 339 in the Gulf Province with Kina Petroleum, taking a 70% interest and operatorship. Shortly after the end of the quarter, the Company farmed-out a 35% interest in the licence to Total SA, with Oil Search retaining 35% and operatorship. Seismic and high resolution gravity and magnetic studies undertaken by the Company have high-graded a prospective trend in the licence and delineated the Kalangar structure as the preferred prospect. Preparations are now underway to drill the Kalangar 1 well, which is scheduled to take place during the dry weather window in late 2016/early 2017, as part of the ‘Smaller Rig’ drilling campaign. Kalangar is a multi tcf potential Tertiary carbonate prospect that, if successful, will open up an important and new prospective trend in the Gulf region."
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