Pan Pacific Petroleum NL advise that drilling operations at Pukeko commenced with spud of the well at 8.30am NZ time, 28 April.
Pukeko-1 targets Kapuni 'C', 'D' and 'F' Sand reservoirs, each with potential of more than 80 million barrels. The 'C' Sands will be reached first and are expected at approximately 3300 metres. 'D' Sands are expected at 3500 metres and 'F' Sands at 3700 metres. Total depth of the well is planned for 4200 metres.
It is expected that the 'C' Sands will be reached in about three weeks and operations completed a week after that. Press releases will be made weekly with daily reporting as we approach and evaluate the target horizons.
Pan Pacific Petroleum NL through WM Petroleum Limited (a wholly owned subsidiary of Pan Pacific Petroleum N.L.) has a 10% interest in PEP38460.
Other participants in the venture are New Zealand Overseas Petroleum Limited (operator) 45%; Stewart Petroleum Company Limited (a subsidiary of New Zealand Oil & Gas Ltd) 12.5%; AWE New Zealand Pty Ltd 20%; and Mitsui E&P New Zealand Limited 12.5%.
For further information : Eric Matthews (Exploration Manager)
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