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11/03/2014 12:06
MINE
REL: 1206 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
11 March 2014
Pateke-4H drilling update
The operator of the Pateke-4H well in the Tui oil fields offshore Taranaki
has provided an update on drilling progress.
At 06:00AM NZDT today the well had been drilled to a total measured depth of
4,110 metres.
Following the penetration last week of the Kupuni F sand, where oil shows and
real time logging measurements indicated the likely presence of an oil
bearing reservoir, removal of the 12 and 1/4 inch drilling assembly has
experienced mechanical drill string difficulties, which are currently being
addressed.
If remedial actions are unsuccessful, a short section of the well may need to
be redrilled as a sidetrack operation. The development program then allows
for the installation of the 9 5/8 inch casing, after which drilling will
continue in the new hole, through the reservoir section, to a projected total
measured depth of 5,361 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.
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
+6421570872
End CA:00248059 For:NZO Type:MINE Time:2014-03-11 12:06:41
