Placing raises £3.025 million

Kea Petroleum plc

("Kea" or the "Group")

Placing raises £3.025 million

Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, confirms it has raised a total of £3,025,000 pursuant to its placing announced yesterday, which has now closed.

Kea is issuing 43,214,282 new ordinary shares for cash at an effective price of 7p per share and each subscriber will also receive, for every two ordinary shares acquired, one warrant entitling him to subscribe in cash for a further ordinary share at 10p prior to 31 May 2015.

The 43,214,282 ordinary shares being issued in the placing will rank pari passu in all respects with the Company's existing ordinary shares. Application will be made for these shares to be admitted to AIM, and dealings are expected to commence on 16 May 2013.

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Notes to Editors:

Kea Petroleum is an AIM listed oil and gas exploration company with interests in four petroleum exploration permits in the Taranaki Basin of New Zealand. Kea listed on the London AIM market in February 2010.