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Drilling Report Manaia-1 Appraisal Well: 14 Aug 09
Cue Energy Resources Limited
RELEASE
Weekly Drilling
Report Manaia-1 Appraisal Well: 14 August 2009
Cue advises that as at 0600 on 14 August, 2009 the Manaia appraisal well had been drilled to 1658 m and the 13 3/8” casing has been run and cemented. The forward plan is to drill ahead in 12¼“ hole.
The Manaia field is located approximately 10 km SW of the Maari field in exploration permit PEP 38413 in the offshore Taranaki Basin, New Zealand. The field was discovered in 1970 by the Maui-4 well. The well intersected an oil accumulation in the Mangahewa formation reservoir which tested at 575 BOPD.
The Manaia-1 appraisal well is being drilled as an extended reach well from the Maari WHP using the Ensco 107 jack-up rig. It is scheduled to take about 45 days to drill. It is expected to confirm the presence of the oil column established by the Maui-4 exploration well. If hydrocarbons are established the well will be completed and tied into the Maari facilities for subsequent testing and production.
The participants in the Manaia-1 appraisal well are: Cue Taranaki Pty Ltd 5% OMV NZ Ltd (Operator) 69% Todd Maari Limited 16% Horizon Oil International Limited 10% (a wholly owned subsidiary of Horizon Oil Limited (HZN))
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