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Kina Petroleum set to finalise capital riasing


The ASX has granted the company a trading halt, with its shares placed in pre-open.

During the September quarter, the company continued front-end engineering and design and preparatory work for upcoming seismic acquisition at PRL 21 in Papua New Guinea.

This is designed to further define the Elevala and Ketu structures ahead of a final investment decision in 2016.

Other activities include looking at commercialisation options for Pandora gas in PRL 38, preparing for drilling in PPL 337 and interpretation of the Gosur seismic at PPL 437.

The halt will last until the earlier of the announcement being made or the commencement of trade on Monday, 10 November 2014.


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