Tuatara-1 Update - Replacement

Kea Petroleum plc

("Kea" or the "Group")

Tuatara-1 Update

The following amendment has been made to the Tuatara-1 Update announcement released on 16 August 2010 at 08:46 under RNS number 1118R. The date of announcement has been amended to reflect today's date, 16 August 2010. All other details remain unchanged. The full amended text is shown below.

Kea Petroleum plc (AIM: KEA) the New Zealand based oil and gas exploration company today notes the following statement from Australian Stock Exchange listed company AWE Limited ("AWE") and its subsidiary company AWE New Zealand Limited with regard to the Tuatara-1 well. As previously announced drilling at the offshore Tuatara-1 well began on Tuesday 27 July.

AWE Limited advises that at 0600 Australian Eastern Standard Time hours today (16 August 2010) the Tuatara-1 well was running cement plugs prior to abandoning the well.

Since the last report, the well was drilled to a total measured depth of 1,911 metres, during which minor oil shows were intermittently reported over the interval 1,790 - 1,850 metres. Wireline logs were run, but no zones of economic potential have been identified.

Tuatara-1 is located in PEP 38524, in the western Tasman Bay in the southern part of the offshore Taranaki Basin.

Partners to the PEP 38524 joint venture, via their wholly owned subsidiaries are:

Kea Petroleum plc 10%

Carnarvon Petroleum Limited 10%

Roc Oil Company Limited 20%

AWE Limited (permit operator) 60%

This release has been approved by non-executive director Peter Mikkelsen FGS, AAPG, who has consented to the inclusion of the technical information in this release in the form and context in which it appears.

For further information please contact:

Kea Petroleum plc Tel: +44 (0)20 7340 9970

David Lees, Executive Director

RBC Capital Markets Tel: +44 (0)20 7653 4000

Matthew Coakes / Brett Jacobs / Daniel Conti Martin Eales (NOMAD)

Buchanan Communications Tel: +44 (0)20 7466 5000 Tim Anderson / James Strong

Notes to Editors:

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