NZO
05/05/2014 09:33
MINE
REL: 0933 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update - running production liner
Drilling has ceased at a revised total measured depth of 4,772 metres in the
Pateke-4H well offshore Taranaki, New Zealand, and a 6 5/8 inch slotted
production liner is being run, the operator has advised.
The oil-bearing properties of the Kapuni F10 reservoir are positive and the
well has been drilled to sufficient depth to enable production.
Modelling is currently under way to determine the estimated recoverable oil
volumes and a 2P estimate will be published when the joint venture has fully
analysed the most recently acquired well data.
Data analysed to date is consistent with the operator's pre-drill estimates.
New Zealand Oil & Gas has a 27.5 per cent interest in Tui.
The other Tui joint venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%
John Pagani
External Relations Manager
+64 21 570 872
End CA:00250084 For:NZO Type:MINE Time:2014-05-05 09:33:07
Price at posting:
78.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
