Kea secures financing

NEW Zealand-focused Kea Petroleum has entered into an agreement with Darwin Strategic to issue up to £1.2 million ($A2.1 million) in convertible loan notes as well as signing an equity finance facility of up to £5 million.

A first instalment of £200,000 of CLNs has been issued in units of £50,000 at a price of £45,000 per unit.