Kina Petroleum Limited ('KPL') is pleased to announce the spud of the Kwila-1 exploration well in PPL 337.
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.
Kwila-1 is designed to test Plio-P|eistocene sands some of which were gas bearing in the shallow section of Raintree 1 and will be drilled to a depth of around 1km. Drilling time is expected to be around 2 weeks.
Kwila-1 will be drilled using the Schramm 200 rig that drilled the Raintree-1 well.