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


Austral Pacific Awarded 3 Oil & Gas Expl. Permits

News Release 5 February 2004

Austral Pacific Awarded Three New Oil And Gas Exploration Permits

Austral Pacific Energy Ltd. (formerly Indo-Pacific Energy Ltd.) has consolidated and extended its onshore Taranaki portfolio following the award of three new permits in the region.

The three new permits are:

PEP 38768. This permit covers 48,000 acres (195km2 ) in northeast Taranaki adjacent to the McKee oil field. Targets include fractured reservoirs in the eastern thrust complex and Miocene sandstones. Participants via New Zealand subsidiaries are Austral 50%, and New Zealand Oil and Gas Ltd 50% (operator).

PEP 38766. This permit is south of Inglewood and provides an extension to Austral’s existing block PEP 38748. Participants are Austral 25%, Tap (New Zealand) Pty Limited 50% (operator) and Magellan Petroleum (NZ) Limited 25%.

PEP 38765. This permit lies between Austral’s existing PEP 38741 and PEP 38748 permits. All three areas have been covered by last year’s Kaimata 3D seismic survey, and a number of targets have been mapped and defined for drilling. Participants are Austral 27.5%, Tap (New Zealand) Pty Limited 50% (operator), Magellan Petroleum (NZ) Limited 12.5% and Tag Oil Ltd. 10%.

Austral Pacific CEO Dr Dave Bennett said: “These new blocks consolidate Austral’s position in onshore Taranaki. A well will be drilled in PEP 38765 in the near future, as part of Austral’s 2004 drilling program”.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>