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L&M Commences Site Preparation for Taranaki Drilling
1st February, 2011
L&M Commences Site Preparation for Taranaki Drilling
L&M Energy (LME), as Operator of onshore Taranaki Petroleum Exploration Permit (PEP) 51151, is pleased to announce that site preparation has commenced at the Talon1 well location.
Due to rig contract discussions and scheduling considerations it is not possible to give a start date for the drilling operations at this time; however the JV has a commitment to drill the well in late May 2011.
The 482.4km2 permit contains a number of previously identified oil and gas leads and is contiguous to Origin Energyoperated Mining Permits that contain the Rimu/Kauri and Manutahi fields.
These fields have produced over 1.2 million barrels of oil and 15 billion cubic feet of gas since 1999, with gas from the fields piped into the national highpressure transmission reticulation system.
The participants in the permit are LME (Operator) (50%) and Mosaic Oil NL (50%), a wholly owned subsidiary of AGL Energy Limited (AGL).
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