Kina Petroleum

Kina Petroleum Corporation (“Kina”, “KPC” or “the Company”) was formed in 2009 to participate in the exploration and acquisition of oil and gas assets in PNG. In eastern PNG where Kina is the operator and 100% equity holder of its licences, the company has had its work commitments restructured via extension of PPLs 338 and 340 and the issue of 4 new licences - PPLs 581, 596, 597 and 598. This has been achieved by close and open dialogue with the Department of Petroleum and Energy in Port Moresby, with Kina keeping the Department abreast of the company’s strategy and goals. In western PNG Kina has built a large exposure to the Fly Platform oil and gas clastic play. PRL 21 is very much central to Kina’s strategy for commercialization of the play. PRL 21 was awarded in 2011 with 6 successful intersections of the wet gas reservoir within the licence, 4 of which were drilled by the current joint venture.