EnergyOil & Gas
viewKina Petroleum

Kina Petroleum awarded new Papua New Guinea petroleum exploration licence


Kina Petroleum (ASX:KPL) has secured a new exploration licence in the Western Papuan Basin, Papua New Guinea, in a joint application with Wondecla Limited.

Kina's interest in the block will be 80%.

The licence PPL 437 covers 18 graticular blocks of 1,104 square kilometres and borders PRL 21 to the north and east, where resources have already been discovered.

Kina has already identified potential leads with leads in the northern part including potential extensions of the prospects already identified as well as a lead ot he north of the Ketu discovery in PRL 21.

In the eastern portion of the licence, a lead to the South East of the Ubuntu discovery has been identified.

The company is well positioned to capitalise on potential infrastructure construction to develop the resources already discovered in PRL 21.

The firm work program over the first two years of the licence comprises seismic reprocessing and acquisition of 50 kilometres of seismic data, with minimum commitments of $200,000 and $300,000 respectively.

It also includes either drilling a well with a minimum spend of $20 million or an additional phase of seismic with minimum spend of $3 million in place of the well if the first phase of seismic does not permit identification of a suitable drilling target.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Kina Petroleum

Price: 0 0

Market: ASX
Market Cap: £0.00

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Parkway Minerals focuses on technology after recent...

Parkway Minerals NL (ASX:PWN) executive director Bahay Ozcakmak updates Proactive on its recent acquisition of unlisted company Consolidated Potash Corporation, which gives Parkway an advanced stage potash project and ownership of an innovative brine processing technology. The executive...

8 hours, 44 minutes ago

2 min read