Kina Petroleum Limited is pleased to provide an update on progress of the Kwila-1 exploration well in PPL 337. As at 8.00 a.m. local time on 7 July 2015 the well was at a depth of 1,000 metres and preparing to run wireline logs.
During the week, the well was drilled in a 6.5' hole to a depth of 1,000 metres. The well has intersected both the primary and secondary objectives which comprise thinly interbedded sandstone of good to fair reservoir quality and intercalated siltstone/claystone. The well will now be evaluated by the forthcoming electrical logging program.
Kwila-1 is operated by Heritage Oil Limited under a farmout agreement between Heritage and KPL, whereby Heritage will carry KPL through the drilling and, if appropriate, testing of 2 wells. The first of those wells, Raintree-1, has been drilled. KPL will retain a 30% participating interest in the Licence upon completion of drilling, and in the event of a discovery will benefit from a carry through a seismic program to appraise the field.