SUR Waingaromia 2 , page-2

Waingaromia #2 is sited on an anticlinal structure near Waigaromia #1, a 403 metre deep well which produced significant oil and gas in the period 1884-1887 before it was destroyed by fire. The original well was sited in a valley some 3.5 kilometres southwest of the prolific Waitangi oil seeps with no clear evidence from surface
geology of any structural closure. However, recent seismic suggests the presence of a hidden anticlinal structure. The Lower Miocene sandstone reservoirs are targeted and are anticipated at about 388 to 403 Metres (as drilled by Waingaromia #1) and in the 403 to 500 metre interval below total depth of the older well.

The 500 metre deep well will assess a potential target of up to 21 million barrels of oil recoverable with up to 21 billion cubic feet recoverable of associated gas.