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NZO
04/03/2014 12:06
MINE
REL: 1206 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
The operator of the Pateke-4H well in the Tui oil fields offshore Taranaki
has advised that the well was at a measured depth of 3560 metres at 6.00AM
NZDT today.
The Blow Out Preventer (BOP) was successfully installed and tested and the 13
3/8 inch casing shoe was drilled out. A 12 1/4 inch section was drilled
vertically to 3,000 metres, at which point directional drilling commenced at
an inclination of 45 degrees.
The 12 1/4 inch section is planned to be drilled to a TD of 4,100 metres.
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 2015.
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:00247793 For:NZO Type:MINE Time:2014-03-04 12:06:12
