Kina Petroleum Limited (Kina) is an oil and gas company. The Company is engaged in acquisition of oil and gas exploration and production concessions in Papua New Guinea. Kina�s Joint Venture Partners in PRL 21 are Horizon Oil (Papua) Limited and Talisman Energy Niugini Limited. The Company�s prospecting licenses and petroleum retention license include PPL 337, PPL 338, PPL 339, PPL 340 and PRL 21. PRL 21 covers an area of 729 square kilometers. PPL 337 covers an area of 5,508 square kilometers on shore, and is situated in the Ramu Sub Basin. PPL 338 covers an area of 3,159 square kilometers onshore Gulf Province within the eastern Papuan Basin. PPL 340 covers an area of 4,212 square kilometers onshore and is located within the Eastern Papuan Basin. On March 18, 2011, Kina was given a 20% participating interest in Petroleum Retention License (PRL) 21, and subsequently agreed to sell 5% of PRL21 to have a remaining 15% interest.