Kea Selects Rig for Taranaki Well Program

Kea Petroleum plc, the New Zealand-based oil and gas exploration company, announced the selection of Drillforce's Rig 1 for a 2 + 1 (optional) well program. The rig is expected to be mobilized first to Kea's Puka-1 wellsite, located in Kea's onshore Taranaki, New Zealand permit area PEP 51153, east of Stratford, near to the successful Copper Moki field. The Directors believe site preparations are progressing well and are on schedule for rig delivery to site on or around February 15, 2012.

Kea has also opted to use the Drillforce rig to install the top section of conductor casing at the Mauku-1 wellsite, in Kea's onshore and offshore Taranaki permit area PEP 381204, in preparation for the main drilling phase.

Drillforce's Rig 1 is a DSM Mayhew rig, purpose built for shallow oil and coal seam gas drilling. The rig was developed in 2009 and is operated by Drillforce's experienced crew. Although Drillforce is new to the oil industry, the Directors of Kea believe it to be a highly capable operator utilizing new equipment and experienced crew, and look forward to a continued relationship between the companies.