Kea Petroleum spuds Puka probe

Taranaki targets: Drilling starts on third Puka well

London-listed explorer Kea Petroleum has spudded its third well at the Puka oilfield in New Zealand’s Taranaki basin.

Drill Force New Zealand’s Rig 6 is drilling the Puka 3 appraisal probe in the south-western part of PEP 51153 to a true vertical depth of 1580 metres.

Kea Petroleum chairman Ian Gowrie-Smith said the latest Puka well’s results would help the explorer “gain a better understanding of the resource size and deliverability to enable us to plan for further commercial development”.

The well is being sunk from the same pad as the first two producing wells and will look for more pay in Mt Messenger formation sands.

The New Zealand-focused junior is drilling with the proceeds of a farmout signed in April that will give MEO Australia a 30% stake in the permit.

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