Kina Petroleum Limited is pleased to announce the spud of the Raintree-1 exploration well in PPL 337. The well spudded at 5.00 p.m. local time on 30 April 2015.
Raintree-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 the Raintree-1 and Kwila-1 wells. 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 or fields.
Raintree is designed to test a carbonate reef analogous to but younger than the reservoir in Elk/Antelope and will be drilled to a target depth between 800-1000m metres, at which point logging operations will occur. Full wireline evaluation of reservoir intervals will be conducted, with both pressure and fluid sampling programmed. Total drill time is expected to be 15 days.