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NZO
29/04/2014 12:02
MINE
REL: 1202 HRS New Zealand Oil and Gas Limited
MINE: NZO: Pateke-4H drilling update
At 6.00 this morning (NZST) the Pateke-4H well, offshore Taranaki, New
Zealand, was at a measured depth of 4,700 metres and drilling ahead
horizontally through the Kapuni F10 sandstone reservoir with an 8 1/2 inch
drilling assembly, the operator has advised.
The reservoir was intersected at 4,023 metres and operations have drilled 677
metres through the F10 reservoir section with approximately 681 metres
remaining to reach a planned total measured depth of 5,381 metres. After
that, a 6 5/8 inch production liner will be installed.
Results to date are positive. Oil shows and real-time measurement logs are
consistent with pre-drill estimates.
The commercial significance of Pateke-4H will be determined once horizontal
drilling is completed and the reservoir size and quality is fully assessed.
Pateke-4H is targeting a mapped northern extension of the currently producing
Pateke field. If successful, the well will be completed for subsequent
tie-back to the Tui FPSO ("Umuroa") for production in 2015.
New Zealand Oil & Gas has a 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:00249855 For:NZO Type:MINE Time:2014-04-29 12:02:01
