(MENAFN- ProactiveInvestors - Australia) Rawson Resources (ASX: RAW) is poised to receive its share of cash flows from Kea Petroleum's (LON: KEA) commercially successful oil and gas well in the onshore Taranaki Basin, New Zealand.
The Puka-1 well in PEP 51153 flowed up to 310 barrels of oil and up to 1.8 million cubic feet of gas during flow testing.
Kea, which Rawson holds a 5.4% stake in, has decided to drill the follow up Puka-2 well as soon as possible using a larger rig that can drill a larger wellbore that in turn allows for higher flow rates and flexibility with completion and production.
The Wingrove production facilities will now be moved to the Puka site with installation work being undertaken during the drilling of Puka-2.
This will allow testing to commence at Puka-2 immediately following drilling and for production to start at Puka-1 without any delay following the completion of the main build-up phase of the current test.
Planning is also advanced for a Puka 3D seismic survey to be acquired over the upcoming New Zealand summer that will help locate future drilling targets.
Testing on Puka-1 is continuing with choke sizes being varied to determine the optimum production parameters for future field performance.
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