Kina Petroleum Limited (KPL)

KPL committed to PRL 21 commercialisation

The Company states in its 2018 fourth quarter report that it is reviewing funding strategies for early development work.

KPL says it continues to advocate the feasibility of production form the early 2020’s, a timeframe which would be of significant benefit to all stakeholders.

“PRL 21, together with prospects in PPL 437, provide a natural focus for a future liquids hub in Western Province using the Fly River as a virtual export pipeline.

KPL undertakes resource certification

In a contingent resource statement to the Australian Stock Exchange, KPL states the resource certification/estimation has confirmed the following 2C Contingent resource quantities, net to Kina:

  • 186 billion cubic feet (bcf) of gas and 8.1 million barrels (MMbbl) of condensate in PRL 21; and
  • 225 bcf of gas in PRL 38.

KPL says the resources in PRL 21 form the basis of much of the work undertaken by the PRL 21/PDL 10 joint working team that is directed towards commercialisation of the resources in the central and southern areas of Western Province.