News

February 24, 2010

Former Rift Oil Team Target New Zealand With AIM Newcomer Kea Petroleum

Those investors who booked a nice return on Rift Oil, the Papua New Guinea-focused explorer that was last year bought by Canada’s Talisman Energy in a deal that delivered a three-fold return to shareholders, will no doubt be interested in the directors’ latest venture.  And this time the former Rift team is doing something completely different, eschewing the pursuit of gas in remote PNG, where drilling was prohibitively expensive and discoveries had a good chance of becoming stranded, for...