Heritage Oil spuds Raintree-1 farm-in well in PPL 337
Kina Petroleum (KPL) has announced the spud of the Raintree-1 exploration well in PPL 337. The well spudded on 30 April 2015.
Raintree-1 is operated by Heritage Oil 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.
Source: Kina Petroleum