TIDMKEA

RNS Number : 0481F

Kea Petroleum PLC

11 June 2012

 
 For Immediate Release   11 June 2012

Kea Petroleum plc

("Kea" or the "Group")

PUKA 1 FIRST FLOW TESTING RESULTS

EXCELLENT QUALITY LIGHT OIL

Swabbing operations at Puka-1 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 Degrees API and a relatively low pour point of 15 Degrees 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 permit PEP 51153 within New Zealand's onshore Taranaki Basin. Kea announced on 10 April that Puka-1 had intersected a 40m interval of Mt. Messenger reservoir quality sands with a net pay of between 4.5m and 9m. Kea has not altered its original estimate of gross recoverable resource of one million barrels of oil with a potential upside of up to three million barrels of oil.

Further information will be released as it becomes available.

Ian Gowrie-Smith, Chairman said:

"These results could not be better or more encouraging. If further testing confirms our expectations, Puka-1 will transform Kea into a profitable oil producer."

Testing operations are continuing at Douglas.

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.

To learn more about Kea Petroleum, visit: www.keapetroleum.com or contact:

 
 Kea Petroleum 
  Plc 
 Contact:         David Lees, Executive Director 
 Tel:             +44 (0) 20 7340 9970 
 
 RBC Europe 
  Ltd 
 Contact:         Mathew Coakes/Daniel Conti 
 Tel:             +44 (0) 20 7653 4000 
 
 Buchanan 
 Contact:         Tim Anderson 
 Tel:             +44 (0) 20 7466 5000

Notes to Editors

Kea Petroleum is an AIM listed oil and gas exploration company with interests in four

petroleum exploration permits in New Zealand's Taranaki Basin. Kea listed on the London market in February 2010.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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