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


International Business Forum: NZ EU FTA Coming Down To The Wire – Hold The Line

As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters... More>>

MBIE: NZ space sector set to star in Moon mission
The New Zealand space sector is set to star in NASA’s CAPSTONE moon mission – with Rocket Lab launching a satellite to the Moon from New Zealand in June, and the lift-off of a separate NASA-NZ lunar research project... More>>

Air New Zealand: Relaunching 14 International Routes In 16 Days

Air New Zealand is gearing up for the busiest July in two years with the relaunch of 14 international routes in 16 days... More>>

Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>

BusinessNZ: NZ Economy - Prevailing Headwinds
The latest BusinessNZ Planning Forecast reveals business and consumer confidence is low, with factors at home and abroad hampering our recovery... More>>