tui - 1.15 billion barrel oil target

AWE, NZO or PPP the stocks to be on for this one. They dont come this big too often.

acturtle



NEW ZEALAND OIL & GAS LIMITED 2002-12-19 ASX-SIGNAL-G

HOMEX - Melbourne

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The site survey in preparation for drilling the Tui prospect was
completed on 18 December. This survey checks the condition of the
seabed to make sure there is no debris or other obstacles, and
determines seabed anchoring conditions in readiness for the arrival
of the drilling rig.

Diamond Offshore, owners of the Ocean Bounty have advised that the
rig should be ready to move to the Tui-1 location at the end of
January, after it has drilled the Karewa and Maari wells for other
companies.

Drilling of the Tui prospect is expected to take 30 days to reach
total depth of 4000m. Mid-case potential is 700 million barrels in
the primary D Sand objective, with a further 400 million barrels
potential in the Moki and 50 million barrels in the F Sands.

New Zealand Oil & Gas Limited holds a 20% equity in PEP38460.