NZO new zealand oil & gas ltd ordinary shares

Ann: MINE: NZO: Pateke-4H drilling update

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    					NZO
    08/04/2014 12:04
    MINE
    
    REL: 1204 HRS New Zealand Oil and Gas Limited
    
    MINE: NZO: Pateke-4H drilling update
    
    At 06:00 this morning (NZST) the Pateke-4H remains at a measured depth of
    4,083m BRT (below rotary table), and the 9 5/8 inch casing has been installed
    and cemented with the shoe at 3,669m BRT.
    
    The 8 1/2 inch drilling assembly is being run in hole and preparations are
    being made to drill out the shoe 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:00249255 For:NZO    Type:MINE       Time:2014-04-08 12:04:16
    				
 
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