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NZO
01/04/2014 12:02
MINE
REL: 1202 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
At 06:00 this morning (NZDT) the Pateke-4H was at a measured depth of 4,083m
BRT (below rotary table), compared to 3,845m at the same time last week, and
had intersected the hydrocarbon bearing F10 reservoir sand.
The rig is currently installing casing following which the well will be
drilled horizontally through the F10 reservoir to a planned total measured
depth of 5,361m BRT.
The Kapuni F10 sandstone objective has already been intersected as expected
with oil shows and real time logging measurements indicating the likely
presence of an oil bearing reservoir. The operator describes this as "very
encouraging", however, the commercial significance of the oil shows will not
be clear until the horizontal drilling has been completed.
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
+64 21 570 872
End CA:00248983 For:NZO Type:MINE Time:2014-04-01 12:02:27
