Date Posted: 2010-02-15 11:29 New Issue: Kea Petroleum plc Kea Petroleum plc ("Kea") is an oil and gas exploration company with three petroleum exploration permits in the Taranaki and Northland Basins of New Zealand. Kea's focus is on New Zealand where the board has considerable expertise, particularly in the prolific Taranaki Basin. The initial thrust will be to build a business where existing and lower risk new discoveries can be rapidly brought on-stream by utilising the well established local infrastructure and energy market. The Taranaki Basin has long been the main focus for hydrocarbon exploration and production in New Zealand and an area in which there has been a number of oil and gas discoveries.
The majority of the board previously worked together at Rift Oil plc, a former AIM-quoted company which was successfully acquired by Talisman Energy Holdings Ltd in 2009 delivering a three-fold return on investment over a four year period.
Listing exchange: AIM
Expected first day of trading: 2010-02-15
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