FYI . Great News for AWE/NZO/PPP ... and SALTY :)
16 August 2004
PATEKE OIL DISCOVERY
New Zealand Oil & Gas advises that LWD logs in the Pateke-2 well indicate
that there is a 13 metre oil column in the targeted Kapuni F Sand.
Log character is the same as in the previous nearby wells at Tui and Amokura,
indicating excellent reservoir quality.
The oil-water contact in Pateke-2 is at the same depth as in the Amokura-1
well, 4km to the south. This implies that both wells have drilled into the
same pool of oil.
The full size of the Pateke-Amokura field will be determined once post-drill
studies have been completed in 6-8 weeks time. However, NZOG considers that
it is likely that the field will rapidly proceed to development with a target
of first oil production within 24 months.
Pateke-2 has reached total depth of 3861 metres and as soon as operations at
Pateke are completed, the drilling rig will move to drill the Kiwi-1 well 4
km southwest of Amokura-1.
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