Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fletcher Challenge Energy in New Exploration

Fletcher Challenge Energy in New Exploration Acreage

18 July 2000, Auckland – As a further step in its exploration portfolio restructuring, Fletcher Challenge Energy has increased its exploration acreage in New Zealand by acquiring a 30 per cent interest in exploration license area PEP 38728 in onshore Taranaki, New Zealand.

The interest, acquired from Marabella Enterprises Ltd (a wholly owned subsidiary of Bligh Oil & Minerals NL), will be earned through the acquisition of seismic data.

“This farm-in is part of our rebuilding of a meaningful exploration business in New Zealand and internationally. The exploration licence is well located, being between the recently discovered Rimu field and our producing Waihapa field” said Mr Rick Webber, General Manager, New Zealand for Fletcher Challenge Energy.

After the farm-in is complete the interests in PEP 38728 will be as follows:

Marabella Enterprises Limited (Operator) 40%
Fletcher Challenge Energy 30%
Origin Energy Resources NZ Limited 30%

In a related deal Fletcher Challenge Energy and Marabella have agreed in principle for Marabella to acquire a 10 per cent interest in PEP 38718 from Fletcher Challenge Energy. This block, which was previously 100 per cent held by Fletcher Challenge Energy, contains the Tuihu prospect to be drilled later this year. “We are very encouraged by the potential of the Tuihu prospect and are in the process of securing the long lead-time items required for the drilling of this well” said Mr Webber.

“The deals, in association with the recent relinquishment of its interest in PEP 38462, and the portfolio changes in Canada reflect Fletcher Challenge Energy’s clear intention to improve the level and quality of its exploration business globally” said Lloyd Taylor, Chief Operating Officer, Fletcher Challenge Energy.

# # #
For more information contact:
Rick Webber
General Manager, New Zealand
Fletcher Challenge Energy
Tel: 64 9 525 9082 or 025 858 881

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO: