It is also said that despite the area around Taranaki being explored fairly successfully (fairly high strike rate per well drilled) that it is still not completely explored or tested.
It is certainly the most explored region in NZ for oil and gas but there has not been that much drilling or exploration activity by overseas standards as I understand it.
Opinions vary, however, as to whether there is a lot more to be found or not. Most of the prospecting is happening offshore presently but there is not a lot of drilling activity going on since the finish of this year's JV activity with Tui etc.
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