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NZO
18/02/2014 12:04
MINE
REL: 1204 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
The Pateke-4H well in the Tui oil fields offshore Taranaki was at a measured
depth of 1507 metres at 6.00AM NZDT today, the operator has advised.
13 3/8 inch casing is being run. The next operation will be to cement the
casing.
Pateke-4H is a northern extension of the existing Pateke reservoir in the
producing Tui area oil fields in PMP 38158, approximately 50 kilometres off
the coast of Taranaki, New Zealand, in water depth of about 124 metres.
Drilling began on 10 February. The well is expected to take around two months
to drill to a planned total measured depth of 5,361 metres, including a 1,271
metre horizontal section.
In the event that commercial volumes are discovered the well will be
completed and later tied into the existing Tui production facilities.
Production of first oil would be in the first half of 2015 or later
New Zealand Oil & Gas has 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:00247119 For:NZO Type:MINE Time:2014-02-18 12:04:28
