Kairiki Energy Limited

 Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) is an Australian Based junior international oil and gas exploration and production company focussed on the Philippines. Kairiki holds a 30.1% interest in Service Contract 54A and a 40% interest in Service Contract 54B.

SC 54A measures 862 km2 and contains the Tindalo, Yakal, Nido 1X1 and Signal Head oil discoveries as well as a substantial portfolio of similar low-risk reefal prospects. In December 2009, Kairiki announced that the SC 54A Joint Venture had approved the development of the Tindalo field. The Tindalo development utilises a jack-up rig and a dynamically positioned storage vessel. Following a short project execution period, the Tindalo development tested oil at 18,689 bbls/d at the end of May 2010. Since that time, unexpected early water ingress to the well has resulted in the SC 54A Joint Venture preparing for a well re-entry and remediation programme to reduce or eliminate the water production. Based on a successful development at Tindalo a number of follow-up developments may be considered in SC 54A.

SC 54B measures 3184 km2 and contains the Gindara prospect which has a mean unrisked oil in place volume estimated by the Operator, of 634 million barrels. The Gindara prospect is a very large simple four-way closure at the Top Nido Limestone reservoir objective with an areal extent of 28 km2, a vertical closure of over 300m and is well located to receive hydrocarbon charge from the Palawan Trough. Kairiki is seeking to farm down its interest in SC 54B to accelerate drilling of the Gindara prospect. 
 
     

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News

Kairiki Energy Limited (ASX:KIK) Secures Farm-Out Agreement With TG World For SC 54A, Philippines

🕔3/11/2010 10:54:05 AM 11624

Kairiki Energy Limited (ASX:KIK) (PINK:KAIRF) is pleased to announce that its wholly-owned subsidiary Yilgarn Petroleum Philippines Pty Ltd has entered into an agreement with TG World (BVI) Corp. [a subsidiary of TG World Energy Corporation (CVE:TGE) (PINK:TGWEF)] to farm-out 4.9% of its current 35% interest in Service Contract 54 Block A (SC 54A), offshore, Northwest Palawan Basin, Philippines.

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Kairiki Energy Limited (ASX:KIK) Quarterly Report For The Period Ended 31 December 2009

🕔1/28/2010 3:41:56 PM 3286

Kairiki Energy Limited (ASX:KIK) (PINK:KAIRF) Directors wish to report the following activities for the quarter ended 31 December 2009.

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ABN Newswire Stocks to Watch: December 15, 2009

🕔12/14/2009 1:29:25 PM 20225

ABN Newswire Stocks to Watch today include: Image Resources (ASX:IMA)(PINK:IMREF), Mission NewEnergy Limited (ASX:MBT), Atlas Iron Limited (ASX:AGO), Galaxy Resources Limited (ASX:GXY)(PINK:GALXF), Environmental Clean Technologies Limited (ASX:ESI), Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF), and WestSide Corporation Limited (ASX:WCL).

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Kairiki Energy Limited (ASX:KIK) Development Of Tindalo Oilfield Approved

🕔12/14/2009 10:41:05 AM 3572

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) is pleased to advise that on the 11th December 2009 the Service Contract 54 Block A (SC 54A) Joint Venture partners provided their Final Investment Decision (FID) approval for the development of the Tindalo oilfield.

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Kairiki Energy Limited (ASX:KIK) Appoints Dr Mark Fenton As New Managing Director

🕔11/24/2009 3:59:26 PM 3862

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) are very pleased to announce the appointment of Dr Mark Fenton as Kairiki's new Managing Director effective 1 December 2009. Mark Fenton has extensive experience in the oil and gas industry with over 24 years in operating oil and gas companies, including several years in executive management roles.

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Kairiki Energy Limited (ASX:KIK) Completes Due Diligence On SC 54A And Recieves Cash Payment Of US$3.8 Million

🕔11/16/2009 5:12:56 PM 2955

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) is pleased to advise that in relation to the Farm-out Agreement with Trafigura Ventures III B.V. (Trafigura) on SC 54A, final legal due diligence has now been completed and a cash payment of US$3.8 million has now been received from Trafigura. With the completion of these conditions, Kairiki is now awaiting final approval from the DOE.

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Kairiki Energy Limited (ASX:KIK) Quarterly Report For The Period Ending 30 September 2009

🕔11/2/2009 4:05:17 PM 2937

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) is pleased to present its September 2009 quarterly activities report.

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Kairiki Energy Limited (ASX:KIK) Secures Farm-Out Agreement With Trafigura For SC 54A

🕔10/22/2009 1:57:46 PM 6544

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) has achieved a significant milestone in the development of the Tindalo project after its wholly-owned subsidiary Yilgarn Petroleum Philippines Pty Ltd entered into an agreement with Trafigura Ventures III BV (Trafigura) to farm-out 5% of its current 40% interest in the highly prospective Service Contract 54 Block A (SC 54A).

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Kairiki Energy Limited (ASX:KIK) Quarterly Activities Report For June 2009

🕔8/3/2009 3:51:59 PM 2461

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) is pleased to provide to shareholders the June 2009 Quarterly Report which provides a summary of the progress made by the company during the quarter.

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Kairiki Energy Limited (ASX:KIK) Joint Venture Partition Request Into Two Areas Approved By Philippine Department Of Energy

🕔7/29/2009 1:10:21 PM 4171

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) is please to advise that the Philippine Department of Energy approved the request of the Service Contract 54 joint venture partners to partition the Contract into two areas - Area 'A' and Area 'B'.

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Company Data

    Headquarters
  • Suite 3, Churchill Court
    331 - 335 Hay Street
    SUBIACO WA 6008
    Australia
  • Telephone
  • +61-8-9388-6711 
  • Fax
  • +61-8-9388-6744 
  • Principal Sector
  • Energy 
  • Principal Industry
  • Energy 
  • Listed
  • 1983/11/10 
  • Homepage
  • www.kairikienergy.com