NZOG still hopeful

Press, 2 September 1986, Page 28

NZOG still hopeful

PA Wellington New Zealand Oil and Gas, Ltd, does not expect commercial production from the Pukearuhe-1 well in North Taranaki, but hopes a second flow test will show that hydrocarbons are trapped nearby.

A test at the week-end in the well from 1918 to 1971 metres recovered a weak flow of gas and some minor liquid hydrocarbons, NZOG said in a statement to the Stock Exchange yesterday. The well was being prepared for the second test in the shallower in-

terval between 1230 and 1270 metres where gas shows were recorded while drilling through miocene rocks equivalent to the Mokau formation.

“Commercial production from this interval is not expected in the Pukearuhe-1 well, but it is hoped that tests will show that hydrocarbons are trapped in the Mokau formation close to the Pukearuhe-1 well,” NZOG said.

“This will guide future drilling plans in the area.”

NZOG said it expected the well to be ready to

test on tomorrow. Two joint venture partners in petroleum prospecting licence 38083, BP and Cluff Oil, had opted out of testing the well. It had thus been done on a “sole-risk” basis.

The sole risk parties are: NZOG (69.2 per cent), Oil Fields NL (19.4 per cent), Apparoil Exploration, Ltd (5.6 per cent), Alpha Petroleum (5 per cent), Lux Petroleum (4.6 per cent), Venture Petroleum (2.5 per cent), Gritain Holdings (1.3 per cent), Pindalex Industries, CWS (0.8 per cent).