NZO
17/06/2014 09:02
MINE
REL: 0902 HRS New Zealand Oil and Gas Limited
MINE: NZO: Oi-2 progress report
The Oi-2 well in Petroleum Mining Permit 38158, offshore Taranaki, New
Zealand, has been drilled to the planned section target depth of 550 metres
with a 17 1/2 inch hole, the operator has advised.
Installation of the 13 3/8 inch casing has been completed.
As at 6.00AM NZDT today, preparations were being made to install well control
equipment in advance of drilling ahead in a 12 1/4 inch hole to the planned
section target depth of 1,500 metres.
Oi is about 37 kilometres off the coast of Taranaki, New Zealand, in about
120 metres of water. It will be drilled to a planned total depth of 3,881
metres.
The joint venture partners in the Oi exploration well are: AWE Limited:
31.25% (Operator).
Pan Pacific Petroleum: 50%
New Zealand Oil & Gas (through subsidiary): 18.75%.
The Joint Venture partners in PMP 38158 are: AWE Limited (Operator) 57.5%
New Zealand Oil & Gas (via subsidiaries) 27.5% Pan Pacific Petroleum (via
subsidiaries) 15%
John Pagani
External Relations Manager
+64 21 570 872
End CA:00251663 For:NZO Type:MINE Time:2014-06-17 09:02:35
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