Pateke-4H drilling update 29 April 2014

Posted on 29 April 2014

At 6.00 this morning (NZST) the Pateke-4H well, offshore Taranaki, New Zealand, was at a measured depth of 4,700 metres and drilling ahead horizontally through the Kapuni F10 sandstone reservoir with an 8 1/2 inch drilling assembly, the operator has advised.

The reservoir was intersected at 4,023 metres and operations have drilled 677 metres through the F10 reservoir section with approximately 681 metres remaining to reach a planned total measured depth of 5,381 metres. After that, a 6 5/8 inch production liner will be installed.

Results to date are positive. Oil shows and real-time measurement logs are consistent with pre-drill estimates.

The commercial significance of Pateke-4H will be determined once horizontal drilling is completed and the reservoir size and quality is fully assessed.

Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field.

If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

New Zealand Oil & Gas has a 27.5 per cent interest in Tui.

The other Tui joint venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%

Attachment: News Release