Kina Petroleum Limited provides an update in relation to exploration activity within certain of its licences in Papua New Guinea.

PPL 337

The farmin agreement with Heritage Oil Ltd provided that KPL would be carried through the drilling and testing of two wells in the licence.

Preparation for drilling of these two wells is complete and a spud is imminent, with the rig in Madang awaiting mobilization to the drilling locations once weather conditions improve.

The heavy rainfall in January, February and early March has necessitated some repair work at the well sites, although these largely remain in serviceable condition as shown in KPL's recent quarterly report. The rain has however resulted in repeated flooding and degradation of access roads making them temporarily unusable.

Tags: Kina Petroleum Limited