Kina Petroleum (KPL) Stock Price, News & Analysis

Kina Petroleum Limited, together with its subsidiaries, acquires, explores for, and develops oil and gas assets primarily in Papua New Guinea. It owns 100% interest in various petroleum prospecting licenses (PPL), including PPL 337 covering an area of 5,508 square kilometers (km2) located in the north New Guinea Basin; PPL 338 that covers an area of 3,159 km2 located in the Eastern Papuan Basin; PPL 340 covering an area of 4,212 km2 located in the Eastern Papuan Basin; PPL 435 that covers an area of 5,713 km2 located within the foreland of the Western province; and PPL 436 covering an area of 13,362 km2 located in the southern foreland of the Papuan Basin in Western province. The company also holds a 30% interest in the PPL 339 that covers an area of 8,019 km2 located in the Eastern Papuan Basin; and a 57.5% interest in the PPL 437 that covers an area of 1,530 km2 in the Papuan Basin. In addition, it owns a 16.75% interest in the petroleum retention lease (PRL) 21 covering an area of 729 km2 in the Foreland of the Papuan Basin; and 25% interest in PRL 38 that covers an area of approximately 765 km2 located to the west of Port Moresby in the Gulf of Papua. Further, the company has licenses for PPL 581, 596, 597, and 598. The company was formerly known as Baraboo No.10 Limited and changed its name to Kina Petroleum Limited in March 2011. Kina Petroleum Limited was founded in 2009 and is based in Port Moresby, Papua New Guinea.