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NZO
25/03/2014 12:02
MINE
REL: 1202 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
At 06:00 this morning (NZDT) the Pateke-4H development well sidetrack was at
a measured depth of 3,845 metres and directionally drilling ahead with a 12
1/4 inch drilling assembly, the operator has advised.
It is planned to drill this section of the well to a measured depth of
approximately 4,110 metres, landing at an angle of approximately 90 degrees,
and then install the 9 5/8 inch casing. The well will then be drilled
horizontally through the F10 reservoir to a planned measured depth of 5,361
metres.
The Kapuni F10 sandstone objective has already been intersected as expected
with oil shows and real time logging measurements indicating the likely
presence of an oil bearing reservoir. The operator describes this as "very
encouraging", however, the commercial significance of the oil shows will not
be clear until the horizontal drilling has been completed.
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.
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:00248675 For:NZO Type:MINE Time:2014-03-25 12:02:15
