Puka-3 Drilling Contract

For Immediate Release 24 June 2014

Kea Petroleum plc

("Kea" or the "Company")

Puka-3 Drilling Contract

Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, is pleased to announce the signing of a contract with Drill Force New Zealand Ltd to enable the drilling of Puka-3 using Drill Force's Rig-6. Site preparations are progressing and the spud date is expected to be in late July 2014.

Puka-3 is targeting Mt Messenger formation sands at about 1,580m Total Vertical Depth that have been interpreted from the recent 50 square km 3D seismic reflection survey carried out in the south western part of PEP 51153.

The drilling of Puka-3, from the same well pad as the producing Puka-1 and Puka-2 wells, is an important component of Phase 1 of the farm-out agreement with MEO New Zealand Pty Limited, which is intended to boost existing production and assist future field appraisal.

Ian Gowrie-Smith, Chairman of Kea Petroleum, said: "This is the commencement of phase two of stage one of the MEO Joint Venture. The pump has been replaced in Puka 2 and production has recommenced. We now move to the drilling of Puka-3 and we look forward to updating the market with further developments."

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Notes to Editors:

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