NEW ZEALAND

Kea wraps up disappointing year

UK-LISTED Kea Petroleum has reported a £4.09 million ($A6.31 million) pre-tax loss for the May 2011 financial year but remains upbeat about its ambition to become a major player in the Taranaki oil and gas exploration and production sector.

"The last 12 months have had their share of disappointments," conceded company chairman Ian Gowrie-Smith, referring primarily to the disappointing onshore Taranaki Wingrove-2 well and Kea's first Australian...

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