Update on Drilling Programme

For immediate release 12 March 2012

Kea Petroleum plc

("Kea" or the "Group")

Update on Drilling Programme

Puka-1 expected to spud in two weeks

Kea Petroleum Plc wishes to advise that its drilling programme in the Taranaki basin of New Zealand is delayed due to extreme weather conditions in the region.

Worst affected is the programme to drill Mauku which as previously advised requires challenging access and site preparations. The intention was to begin the drilling of Mauku with a shallow drilling rig but Kea may now proceed to drill the entire of the hole with the bigger rig later.

Further, Douglas 1 is now being considered to be drilled before Mauku as the site is already prepared.

Puka 1 is now expected to spud later next week.

For further information please contact:

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

Ian Gowrie-Smith, Executive Chairman

David Lees, Executive Director

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

Matthew Coakes / Daniel Conti

Buchanan  Tel: +44 (0)20 7466 5000

Tim Anderson /Isabel Podda