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Kea Gains Extension to NZ Permit

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New Zealand-focused Kea Petroleum announced Wednesday that it has been granted an extension to its PEP 51155 permit, located onshore within the Taranaki Basin – the country's only producing basin so far.

The extension increases the area of the permit by approximately 9 percent to approximately 110 square miles. It has been granted to allow Kea to conduction exploration activities over the Hickman lead, which extends beyond the previous block boundary.

Kea said it is currently in advanced planning to acquire 2D seismic data over the Hickman lead. Hickman is a large sub-thrust feature that lies between the current Kea Mauku-1 well, currently being drilling on the PEP 381204 permit to the north and the Mangahewa field to the south – addressing a mean possible recoverable resource of some 173 billion cubic feet of gas and six million barrels of condensate.

 



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