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NZO
25/02/2014 12:04
MINE
REL: 1204 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
The operator of the Pateke-4H well in the Tui oil fields offshore Taranaki
has advised that the well was at a measured depth of 1507 metres at 6.00AM
NZDT today.
13 3/8 inch casing has been run and cemented with the casing shoe set at
1,504 metres. A subsea tree has been successfully installed, pressure tested
and function tested. The Blow Out Preventer (BOP) is currently being run and
will be tested before drilling of the next section commences.
Preparations are being made for drilling a 12 1/4 inch section to a TD of
4,100 metres.
Pateke-4H is a northern extension of the existing Pateke reservoir in the
producing Tui area oil fields in PMP 38158, approximately 50 kilometres off
the coast of Taranaki, New Zealand, in water depth of about 124 metres.
Drilling began on 10 February. The well is expected to take around two months
to drill to a planned total measured depth of 5,361 metres, including a 1,271
metre horizontal section.
In the event that commercial volumes are discovered the well will be
completed and later tied into the existing Tui production facilities.
Production of first oil would be in 2015.
New Zealand Oil & Gas has 27.5 per cent interest in Tui. The other Tui joint
venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%
John Pagani
External Relations Manager
+64 21 570 872
End CA:00247459 For:NZO Type:MINE Time:2014-02-25 12:04:25
