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- Release Date: 13/01/14 11:26
- Summary: MINE: NZO: Matuku weekly progress report
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NZO
13/01/2014 09:26
MINE
REL: 0926 HRS New Zealand Oil and Gas Limited
MINE: NZO: Matuku weekly progress report
The Matuku-1 well in PEP 51906 offshore Taranaki has been drilled to 3913
meters as of 6.00AM Sunday, 12 January 2014.
A 9 5/8 inch casing string has been set to 3409 meters.
The next operation is drilling ahead to a planned total depth of 4754 metres.
The Kan Tan IV began drilling operations on Saturday, 30 November. Matuku-1
is in 130 meters 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:00245987 For:NZO Type:MINE Time:2014-01-13 09:26:41
