Moderate oil shows in Niagara-2 well

Press, 24 May 1986, Page 8

Moderate oil shows in Niagara-2 well

PA Wellington Moderate oil shows have been observed in sands from 530 metres onwards in the Niagara-2 well in Westland, said New Zealand Oil Gas, Ltd, yesterday. The sands are generally thin, but thicken substantially below 689 m, the company said in a statement to the Stock Exchange.

The well was at 703.2 metres at 7 a.m. yesterday.

Partners in the venture are Petroleum Resources (NZOG) 40.895 per cent, Oil Fields Group 22.675 per cent, Cluff Oil New Zealand 20.01 per cent,

Luxoil 5.49 per cent, Venture Petroleum 5 per cent, Fitzroy Petroleum 2.5 per cent, Apparoil Exploration 2 per cent and Pindalex Industries 1.43 per cent Minor hydrocarbon shows were encountered this week in the Te Kiri-1 well, about 10km north of Opunake in South Taranaki, Petrocorp (Exploration), Ltd, yesterday.

It said there were shows from 4228 metres to the depth reached at 6 a.m. yesterday, 4350 metres.

Expected total depth is 4980 metres. The Tariki-IA well which is 14km to the

south-east of Inglewood was at 1863 metres by 6 a.m., Petrocorp said. Expected depth is 3400 metres. No hydrocarbon shows of commercial significance were encountered this week. Partners in the ventures are Petrocorp 28.34 per cent, the Minister of Energy 38.36 per cent, Payzone Exploration 17.5 per cent, Southern Petroleum 5.1 per cent, Nomeco NZ Exploration Co 5 per cent, Bligh Oil and Minerals 2 per cent, Carpentaria Exploration (MIM) 2 per cent and Petrocorp Exploration (Taranaki) 1.7 per cent