Hunt surrenders licence
PA Invercargill Hunt International Petroleum and its partners have surrendered their licence in the Great South Basin. The Dallas-based oil companies and partners had until mid-Apnl to put forward a programme involving the drilling of two further wells before April, 1987. However, Hunt failed to do this and a proposal put to the Ministry of Energy by other participants has
not been acceptable. ■ ' A Ministry spokesman said the proposal had been considered before the surrender of the licence was accepted. • • ■. The move appears to end Hunt’s off-shore prospecting interests in New Zealand, an involvement first fostered in the late 19605. The company spent more than $lOO million in seismic survey and drilling programmes, between 1975 and 1978 and in late 1983 and early last year. ■
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Press, 1 June 1985, Page 1
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128Hunt surrenders licence Press, 1 June 1985, Page 1
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