Ann: MINE: NZO: Clipper seismic survey completed

• Release Date: 31/12/13 14:09
• Summary: MINE: NZO: Clipper seismic survey completed
• Price Sensitive: No
• Download Document  2.93KB

					NZO
31/12/2013 12:09
MINE

REL: 1209 HRS New Zealand Oil and Gas Limited

MINE: NZO: Clipper seismic survey completed

New Zealand Oil & Gas has completed an incident-free 3D seismic survey
covering approximately 650 square kilometres of the Clipper permit East of
Oamaru.

The seismic vessel Polarcus Alima began the survey on 17 December towing
twelve seismic streamers, each 100 metres apart and reaching eight kilometres
behind the vessel. The survey was completed at approximately 8.30 this
morning, more than a week ahead of schedule. The terms of the Clipper
exploration permit required a 3D survey to be completed by October 2014.

The survey included an extension into the Galleon permit immediately
southwest of Clipper. Rights to explore in the Galleon permit were awarded to
New Zealand Oil & Gas in the New Zealand Government 2013 Block Offer on 6
December.  The completed seismic survey extension satisfies  New Zealand Oil
& Gas's first year work obligation for this permit. (Details of the Block
Offer award are at http://goo.gl/k4T1B7 .)

Data from the survey will be processed overseas and then analysed by New
Zealand Oil & Gas geoscientists in Wellington. The next process of study
could take one to two years.

The Clipper and Galleon permits lie in the Canterbury Basin, which is a focus
for frontier, conventional oil and gas exploration. Extensive surveys were
conducted in the Canterbury Basin in the 1970s and 1980s and wells were
drilled by BP in 1984. Drilling by another operator is scheduled in an
adjacent permit in early 2014.

A seismic survey is a method of testing the earth's physical properties using
acoustic (sound) waves similar to ultrasound. Data collected is analysed to
create an image of the subsurface, which helps to determine whether prospects
to drill exist and to resolve the location of any exploration well. The New
Zealand Government has a description of the process on the Petroleum and
Minerals website at http://is.gd/EE5thh .

The survey was conducted under the New Zealand Department of Conservation
2013 Code of Conduct For Minimising Acoustic Disturbance To Marine Mammals
From Seismic Survey Operations. Details of the Code can be found at
http://goo.gl/oQLY3v.
New Zealand Oil & Gas ceo Andrew Knight thanked the local community.

"Tangata whenua, the Deparment of Conservation and communit y representatives
enabled a successful survey to occur with no impact on the marine
environment," he said.

New Zealand Oil & Gas has a 50 per cent interest in Clipper (Petroleum
Exploration Permit 52717) and is the operator. The remaining 50 per cent is
held by ASX-listed Beach Energy. Beach Energy is also a partner with New
Zealand Oil & Gas in the Kaheru prospect (PEP52181) offshore South Taranaki.

New Zealand Oil & Gas holds a 100 per cent interest in Galleon (PEP 55792).

Attached: Map of Clipper and Galleon permits.

John Pagani
External Relations Manager
+64 21 570 872
End CA:00245752 For:NZO    Type:MINE       Time:2013-12-31 12:09:20