NZOG beefs up Taranaki targets

摘要

Octanex has been paid the first of three tranches under its new farmins with New Zealand Oil & Gas. The US$12.5 million deal for shares in PEPs 51906, 53473 and 52593 marks a major refreshment of NZOG's portfolio in the Taranaki Basin, and adds the Matuku-1 well to a dance card that could see the oil and gas producer drill half a dozen NZ wells in the 2013/14 season. NZOG will also participate in the Oi-1 and Patake-4H tests (12.5%) and, subject to securing a rig, the Kaheru and Kakapo prospects.