Share
- Release Date: 07/01/14 11:21
- Summary: MINE: NZO: Matuku-1 weekly progress report, 7 January 2014
- Price Sensitive: No
- Download Document 1.01KB
NZO
07/01/2014 09:21
MINE
REL: 0921 HRS New Zealand Oil and Gas Limited
MINE: NZO: Matuku-1 weekly progress report, 7 January 2014
As at 6:00AM Monday, 6 January, the Matuku-1 well in PEP 51906 offshore
Taranaki had been drilled to 3417 metres.
9 5/8" casing has been run to 3409 metres and cemented. The current operation
is running in 8 1/2" drilling assembly to commence drilling the next section
to a planned total depth of 4754m.
The Kan Tan IV began drilling operations on Saturday, 30 November. Matuku-1
is in 130 metres of water.
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:00245847 For:NZO Type:MINE Time:2014-01-07 09:21:08
