At 10:00am NZ time on 25 May, Pukeko-1 was at a depth of 4015 metres and drilling ahead.
The forward plan is to drill to total depth of approximately 4200 metres and run electric logs. It is anticipated that a final announcement on Pukeko-1 will be made in a few days time when results of wireline logging have been evaluated.
New Zealand Oil & Gas Limited holds a 12.5% interest in PEP38460 through subsidiary Stewart Petroleum Company Limited.
Other participants in the venture are New Zealand Overseas Petroleum Limited (operator) 45%; WM Petroleum Limited (a wholly owned subsidiary of Pan Pacific Petroleum N.L.)10%; AWE New Zealand Pty Ltd 20%; and Mitsui E&P New Zealand Limited 12.5%.
AWE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
