Stock Market News
Kea Petroleum nears funding deal in New Zealand
11-02-2014 09:41
Add To Google +1 | Tweet |
Oil & gas explorer Kea Petroleum is close to completing a deal to fund drilling in New Zealand.
Kea said it expected to complete the farm-out of an interest in an asset known as PEP51153, which includes its Puka discovery in the Taranaki Basin on New Zealand's North Island, in the first quarter of this year.
The deal would mean Kea's partner in the project would fully fund an appraisal of Puka involving one firm well and up to three more wells.
Kea also reported reduced production on its Puka 2 operation due to technical problems, but said pressure build-up during a shutdown had confirmed Puka 2's production potential and repairs should allow production to re-start in March.
Shares rose 7.3% to 1.1p at 09:44 in London.
PW
Kea said it expected to complete the farm-out of an interest in an asset known as PEP51153, which includes its Puka discovery in the Taranaki Basin on New Zealand's North Island, in the first quarter of this year.
The deal would mean Kea's partner in the project would fully fund an appraisal of Puka involving one firm well and up to three more wells.
Kea also reported reduced production on its Puka 2 operation due to technical problems, but said pressure build-up during a shutdown had confirmed Puka 2's production potential and repairs should allow production to re-start in March.
Shares rose 7.3% to 1.1p at 09:44 in London.
PW
Related share prices |
---|
Kea Petroleum (KEA) share price |
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price