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


L&M Petroleum Starts Offshore Seismic Survey

MEDIA RELEASE – May 8th 2006

L&M Petroleum Starts Offshore Seismic Survey

On 7th May 2006, L&M Petroleum (L&M) started a 1,000 km offshore seismic survey in the Solander Basin south west of Invercargill estimated to cost NZ$2 - $3 million. This follows the successful reprocessing and reinterpreting of 3,000 kms of seismic data from earlier surveys. Four large prospects and numerous leads were identified and the current survey has been designed to enhance some of the larger targets prior to drilling. The survey is taking place in offshore Petroleum Exploration Permit 38228 which covers 4,450 square kms.

L&M also holds onshore Petroleum Exploration Permits 38226 and 38230 covering the Waiau and Te Anau Basins where seismic surveys and drilling programmes are in progress. The first two onshore wells drilled by L&M were Orepuki, completed in October 2005, and Sharpridge Creek #1 completed in February 2006.

Sharpridge Creek #1 is cased and ready for testing in late May.

Chairman of the L&M Group, Geoff Loudon, said….”The start of the offshore seismic programme is the next stage of a major Southland oil and gas programme. We are excited by the progress to date and are confident that L&M will discover oil and gas in the region”.

L&M is a privately owned New Zealand company. Established in Nelson in 1936 to explore and develop minerals and energy resources, L&M is now based in Christchurch and has 100% interest in the permits.


Further details of the L&M Group can be found at

© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. 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>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. 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>>