Older news , but highlights my previous post how Kea had more projects on the boil. From stuff.co. nz 28/10/09
Oil explorer Kea Petroleum wants to raise tens of millions of dollars from investors in the AIM market in London, as it gears up to drill two wells in Taranaki and plans more "aggressive" exploration.
Trying to raise the money in New Zealand would be a waste of time, says chief executive Dave Bennett, an industry veteran.
Dr Bennett was exploration manager at New Zealand Oil & Gas in the 1980s and 1990s, and later led Austral Pacific, which he left in 2005. Austral went into receivership this year.
"He is a cat with nine lives," one oil industry player said.
"He always lands on his feet and finds people with money."
Kea already had the money to drill two wells in Taranaki early next year, so the extra money it hoped to raise in London would be for further exploration.
There were "a number of other projects on the boil and we will pursue them pretty hard", Dr Bennett said, although he would not identify them.
Kea was having discussions about listing on the smaller companies' AIM market, he said yesterday, and he expected a formal announcement "pretty soon".
Kea was aiming to raise "tens of millions".
RAW Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
