Kea Petroleum reported that the 100 percent owned Puka 1 well has reached its planned target depth of 1,550 meters (5,085 feet) on time and within budget. A 40 meter (131 feet) interval near 1,400 meter (4,593 feet) depth, contained several Mt Messenger reservoir quality sands, with a net to gross sand ratio over the interval of approximately 20 percent.

Independent petrophysical analyses of electric logs indicate a minimum of 4.5 meters (14.7 feet) of moveable hydrocarbons in good reservoir quality sands. These are most likely a light oil, somewhat gassier towards the top of the interval.

Tags: Kea Petroleum