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- Release Date: 20/12/13 11:27
- Summary: MINE: NZO: Matuku-1 weekly progress report 20 December
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NZO
20/12/2013 09:27
MINE
REL: 0927 HRS New Zealand Oil and Gas Limited
MINE: NZO: Matuku-1 weekly progress report 20 December
As at 6.00AM Thursday, 19 December the Matuku-1 well in PEP 51906 offshore
Taranaki had been drilled to 2867 metres.
The next activity will be drilling ahead to 3400 metres and then running
casing.
The Kan Tan IV began drilling operations on Saturday, 30 November. Matuku-1
is in 130 metres of water. It is expected to take 45 days to drill to a depth
of 4750 metres.
Participants in PEP 51906 are OMV New Zealand (Operator) 65 per cent; Octanex
22.5 per cent; and New Zealand Oil & Gas 12.5 per cent.
If Matuku-1 is successful, either New Zealand Oil & Gas or Octanex may
exercise an option for New Zealand Oil & Gas to acquire a further 5 per cent
of Octanex's share, which would equalise each company's interest at 17.5 per
cent.
John Pagani
External Relations Manager
+64 21 570 872
End CA:00245490 For:NZO Type:MINE Time:2013-12-20 09:27:22
