MINE: NZO: NZOG'S Hector-1 drilling report 14 August 2007
New Zealand Oil & Gas Limited ("NZOG") reports that at 0600 hours today, the Hector-1 well was being plugged and abandoned at a total measured depth of 3,825 metres.
After completion of operations at Hector-1, the Ocean Patriot rig will be moved to drill the Taranui-1 well in PMP 38158. NZOG estimates the Taranui Prospect to potentially have an estimated 15 million barrels of recoverable oil. A discovery at Tarnui-1 would most likely be fast-tracked for development through the existing Tui area FPSO and facilities.
ENDS
NZO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
