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."
 
watchlist Created with Sketch. Add KPL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.