New flotation this one...not sure what the market cap is, but has some interesting assets.....

of course not; you have the benefit of both 20/20 hindsight and foresight and thus know when a share absolutely cannot fall further

Have you got your computer upside down, mine shows this share rising at a pace .
Just waiting for the flow test on Puka-2. :-))

i see a 5 year chart!

You sound like Mystec Meg , Joking aside I know what you mean . I may well sell on the results.

Mauku Drilling and Puka Testing Update
RNS
RNS Number : 6585Y
Kea Petroleum PLC
26 February 2013



For immediate release
26 February 2013




Kea Petroleum plc

("Kea" or the "Group")



Recommencement of Mauku Drilling and Puka Testing Update



Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, is pleased to announce drilling at Mauku and the completion of drilling prior to testing at Puka.

Mauku Drilling

The Icelandic Drilling Odinn rig has commenced drilling operations at Mauku. Mauku 1 was spudded in January 2013 using Drillforce rig 6 to drill surface hole to a depth of 507m prior to running 13 3/8" surface casing and suspending the well. Odinn has been moved onto the site and rigged up over the past three weeks and has re-entered the well in preparation to drilling ahead.

Mauku is being drilled to a planned total depth of 3,400m and drilling is expected to be completed in April. Half of the cost of the well is being funded by Methanex as part of the Alliance Agreement between Kea and Methanex.

Kea has been involved in extensive farm-out discussions with numerous parties. Although two of these parties have elected not to farm-in, talks are still continuing with multiple parties who have expressed an interest in participating in the well. However given the advanced status of the well, it will be difficult to conclude the negotiations within the project time constraints.

Puka 2 Testing

Drilling operations have concluded at Puka with the completion string installed and the well perforated in preparation for testing. Now that the drilling rig has been demobilised from the Puka location preparatory earthworks and the assembly of surface test equipment, tanks and oil transfer equipment can commence.

Testing of Puka 2 is expected to begin in mid-March and will run for between 30 and 45 days.



Ian Gowrie-Smith, Chairman of Kea Petroleum, commented:"It is with a mixture of excitement and trepidation that we look forward to the drilling of Mauku. In the event of success, the impact of owning 100% of Mauku would be transformational for Kea given that the Board estimates the upside potential prospective resource (P10) to be 1,031 billion cubic feet of gas and 61 million barrels of condensate (oil).

"Using the cash flow we expect from the Puka field, the Company will continue to develop some of the large prospective deposits in our extensive acreage within the Alliance Partnership with Methanex."

This release has been approved by non-executive director Peter Mikkelsen FGS, AAPG, who has consented to the inclusion of the technical information in this release in the form and context in which it appears.

P10 indicates at least a 10% probability that the quantities recovered will equal or exceed the estimate. This is a measure of uncertainty not geological or commercial risk

07:00


Kea Petroleum PLC - Interim Results


RNS





RNS Number : 8487Y

Kea Petroleum PLC

28 February 2013








For Immediate Release 28 February 2013



Kea Petroleum plc

("Kea" or the "Group" or the "Company")



INTERIM RESULTS FOR THE PERIOD ENDED 30 NOVEMBER 2012



Kea Petroleum plc (AIM: KEA), the oil and gas exploration company focused on New Zealand, is today pleased to announce its interim results for the six month period ended 30 November 2012.





Highlights



· Increasing pace of exploration, testing and production including successful test results at Puka 1



· Further oil strike at Puka 2 with likelihood of attractive flow rates



· Testing results of Puka 2 expected shortly



· Drilling operations have commenced at Mauku



· Revenue from testing Puka 1 of £382,000



· Pre- and post-tax loss of £1.49 million (30 November 2011: loss of £1.36 million)



· Cash on hand at 30 November 2012 of £11.35 million (30 November 2011: £10.69 million)





Drilling Schedule 2013



· Mauku-1 Q1 - Drill to 3400m depth



· Mercury Q2 - Offshore 3D seismic survey



· Puka-3 Q3 - Drill to 1600m depth



· Hickman Q2/3 - 48km 2D seismic survey



· Angus-1 Q3 - Drill to 1400m depth







Kea Petroleum's Chairman, Ian Gowrie-Smith, said:



"The discovery of oil at Puka was a vital step towards Kea achieving its ambition to become a significant player in oil and gas production. The drilling results confirm our belief in our active drilling programme and we look forward to building on our recent successes over the next 12 months. The recent Puka results have favourably positioned Kea to continue growing its production, whilst the drilling of Mauku has the potential to provide the Company with potentially significant near term upside.''

Kea Petroleum set for busy time in New Zealand
9:01 am by Philip WhiterowThe group recently spudded its first well on the Mauku field, which will drill to a depth of 3,400m.



Kea Petroleum (LON:KEA) is to follow up its recent oil discovery on the Puka field in New Zealand with significant further exploration this year.

Ian Gowrie-Smith, Kea’s chairman, said the oil discovery at Puka had confirmed the company’s belief in its active drilling programme.

Puka-1 generated £382,000 in revenues in the half year to November, though the well is still being appraised, which limited its contribution. A second well on Puka also found oil and is currently being flow tested.

The group recently spudded its first well on the Mauku field, which will drill to a depth of 3,400m.

Other work planned for 2013, all of which is in New Zealand, includes offshore 3D seismic at the Mercury prospect in the second quarter: a third well at Puka to a depth of 1,600m in the third quarter; 48km of 2D seismic at the Hickman prospect and a first well at the Angus prospect to a depth of 1,400m.

“The recent Puka results have favourably positioned Kea to continue growing its production, whilst the drilling of Mauku has the potential to provide the company with potentially significant near term upside,'' said Gowrie-Smith.

Kea posted an interim loss of £1.49mln (£3.0mln) and finished the period with cash on hand of £11.4mln.

Shares rose 4% to 10.75p.

Watch Kea Petroleum presenting at the oilbarrel conference.

Video Webcast

Successful Puka 2 Test Results

RNS


RNS Number : 7496B

Kea Petroleum PLC

08 April 2013







For Immediate Release

8 April 2013




Kea Petroleum plc

("Kea" or the "Group")

Successful Puka 2 Test Results

Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, is pleased to announce successful results from its initial oil production testing at Puka 2.

Encouraging production test results

During the initial clean-up flow period of 5 days, the well achieved an initial oil flow rate of 719 barrels of oil per day (BOPD) with an associated gas flow rate 0.419 million cubic feet per day (MMCFD) on a 22/64" choke over the initial 12 hour flow period. The oil has a density of 38°API and a pour point of 27°C. No formation water was produced during the flow period. The first shipment of oil from Puka 2 was dispatched to market on 31 March 2013.

Well production is now temporarily halted until Sunday 14 April 2013 to establish initial pressure build up.

Forward programme

The current test programme calls for a main flow period up to 45 days followed by a build-up period before continuous production can begin.

Design and construction of the Puka production station is well advanced with commissioning expected during the shut-in period of the Puka 2 test. Kea anticipates to bring Puka 1 online in the latter stages of the Puka 2 test to determine optimum production rates from the two wells.

The initial results of the test confirm the previous log and MDT analysis. Whilst the oil is similar to Puka 1, Puka 2 has considerably better production characteristics with a low gas oil ratio and higher oil flow rates.

Kea has already obtained consents for up to an additional four wells on the current Puka surface location. Following initial interpretation of the Puka 3D Seismic Survey acquired in late 2012, Kea is examining potential well locations to be accessed from the existing surface location as part of the appraisal and development programme for the greater Puka field.

Mauku Update

Drilling at Mauku has reached 2,709m. The total depth is expected to be 3,400m which, on current expectations, should be reached in 7-10 days.



Ian Gowrie-Smith, Chairman of Kea Petroleum, commented:



"We are delighted with these results - a headline flow rate at Puka 2 in excess of 700 BOPD with no water production is excellent. We intend to proceed as quickly as possible in commissioning the production facilities and in further developing the Puka field.



"Kea is now on the threshold of generating a significant revenue stream from Puka. Combined with imminent results from drilling at Mauku, these are exciting times for the Company."



This release has been approved by non-executive director Peter Mikkelsen FGS, AAPG, who has consented to the inclusion of the technical information in this release in the form and context in which it appears.

Kea Petroleum delighted with Puka 2 test results
By Philip Whiterow April 08 2013, 8:41am The well achieved an initial oil flow rate of 719 barrels of oil per day.The well achieved an initial oil flow rate of 719 barrels of oil per day.



Kea Petroleum’s (LON:KEA) second well on its Puka field in New Zealand has produced strong flow results in its initial testing period.

The well achieved an initial oil flow rate of 719 barrels of oil per day (BOPD) with an associated gas flow rate 0.419mln cubic feet per day (MMCFD) on a 22/64" choke over the initial 12 hour flow period.

Ian Gowrie-Smith, Kea Petroleum’s chairman, said: "We are delighted with these results - a headline flow rate at Puka 2 in excess of 700 BOPD with no water production is excellent. We intend to proceed as quickly as possible in commissioning the production facilities and in further developing the Puka field.

Well production has now been temporarily halted until Sunday 14 April to establish initial pressure build up.

The current test programme will see a 45 day main flow period followed by a build-up period before continuous production can begin.

Puka 2’s oil is similar to Puka 1, but has considerably better production characteristics with a low gas oil ratio and higher oil flow rates, Kea added.

Commissioning of the Puka production station is expected during the shut-in period of the Puka 2 test. Kea anticipates bringing Puka 1 online in the latter stages of the Puka 2 test to determine optimum production rates from the two wells.

Elsewhere, drilling at the Mauku 1 exploration well has reached 2,709m. The total depth is expected to be 3,400 metres which, on current expectations, should be reached in 7-10 days, added the company.

"Kea is now on the threshold of generating a significant revenue stream from Puka. Combined with imminent results from drilling at Mauku, these are exciting times for the company," said Gowrie-Smith.

dc kea appears as if it might bounce back imminently are you still in here?

No gibby closed the doors on this one. All the best and hope it does well for you.

thanks dc - well I reckon we have blue times ahead here might be worth putting back on the radar.........

http://www.proactiveinvestors.co.uk/companies/news/61829/kea-petroleum-shares-could-be-revived-by-a-farm-out-deal-61829.html

Kea Petroleum shares could be revived by a farm-out deal
By Jamie Ashcroft October 04 2013, 3:46pm Puka currently produces around 200 barrels per day, and at this level the operation breaks even.Puka currently produces around 200 barrels per day, and at this level the operation breaks even.

Kea Petroleum’s (LON:KEA) downtrodden shares could be set for a revival if a deal can be agreed to continue the development of the Puka oilfield in New Zealand.

A strategic review of the project was launched in September, and chairman Ian Gowrie-Smith has revealed to Proactive Investors that Kea has received ‘all sorts’ of approaches, including offers to buy the entire field.

He says, however, that the best option for the company will be decided in the coming weeks.

A ‘farm out’ or partnership deal is understood to be the most likely outcome. The small cap oil producer has been in talks with larger companies for some time and a transaction could be agreed before the end of October.

The support of a new partner would allow two more wells to be drilled to lift production and get the field development back on track.

Puka currently produces around 200 barrels per day, and at this level the operation breaks even.

The two additional wells, with an estimated combined cost of around US$5mln, are expected to increase the field’s production above the 500 barrel a day marker, which would make further development of the Puka field ‘self funding’ thereafter.

Well location is believed the reason for the lower than anticipated output. Interpretation of 3D seismic suggesting the Puka site is on the fringe of the main oil system.

But, more wells on the same location using the already developed infrastructure, remains a compelling option for the company.

“The economics of exploiting this field really requires us at a very minimum to put in Puka 3 and Puka 4, and put them in as soon as possible,” Gowrie-Smith said.

“We now have a production station that can house between one and six holes. The operating costs are basically fixed regardless of the number of holes. You need those facilities if you’re operating one hole or six. So the economics for Puka 3 and 4 are compelling.”

“Puka 1 and 2, at 200 barrels a day, allows the company to break even, but it is not enough to progressively develop the field. So we need to get a kickstart.”

Gowrie-Smith says ‘quite a number companies’ are interested in the asset and he believes Kea will be able to ink a deal in the ‘reasonably near term future.’

The first priority for Kea and its patient investors must be on securing sufficient cash for the next two wells.

Gowrie-Smith is confident a transaction will be agreed.

Once a deal is in place and funds are available to commit to drilling the project could move forward fairly quickly - rig availability is not a problem, no additional consent is required by the authorities and minimal site preparations are needed.

As such, drilling could start early in 2014, and Gowrie-Smith reckons the turning point for the shares will come with the confirmation that the drilling of Puka 3 and 4 can proceed.

He also says the sharp 60% share price fall since September’s production update was an over-reaction, with the understandable investor disappointment being exacerbated as one institutional shareholder sold out of a position – believed to be in the order of 14mln shares.

“It triggered a degree of nervousness among the larger pool of investors, who didn’t understand that this fall wasn’t from mass levels of unhappiness with the information [in the company’s update] but rather from one institution deciding to withdraw from small cap stocks.”

in other words news imminent on farm out + other bits and bobs

hopefully news around 2pm today

Recovering well over the last week, in the top 10 risers each day.

Closed up 27%

RNS out. Farmout deal will complete 'within seven days'. game changer!

Closed up 40.24%