MINE: NZO: Tui SW-2 Exploration Well Disclosure Notice

20 May 2010 11:58 am

NZO 20/05/2010 MINE

REL: 1158 HRS New Zealand Oil and Gas Limited

MINE: NZO: Tui SW-2 Exploration Well Disclosure Notice

20 May 2010 Tui SW-2 Exploration Well Disclosure Notice NZOG (New Zealand Oil & Gas Ltd) advises that during the last week, Tui SW-2 was drilled to a depth of 1507 metres. The 13 3/8" casing has been run and cemented to a depth of 600 metres. This is shallower than was planned, and was necessitated by continuing difficulty with unstable shallow sediments at the Tui SW location. The contingency 9 5/8" casing will now be run to 1500 metres, before drilling ahead to target depth in 8 ?" hole.

The Tui South West prospect is located in mining licence PMP 38158 in the offshore Taranaki Basin, approximately 85 kilometres from New Plymouth

The Tui SW-2 well is testing the Kapuni F10 Sand, which has proved productive at the adjacent Tui oilfield. At the conclusion of drilling, Tui SW-2 will be cased and suspended as a possible future gas injection well. The well is planned to be drilled to a total depth of approximately 3,725 metres.

Kahu-1, to the east of the Tui oilfield, will be drilled immediately following Tui SW-2.

Participants in Tui SW-1 and PMP 38158 are: New Zealand Oil & Gas Ltd (through its subsidiary Stewart Petroleum) 12.5% AWE Limited (Operator) 42.5% Mitsui E&P Australia Pty Limited 35.0% Pan Pacific Petroleum NL (through its subsidiary WM Petroleum Ltd) 10.0% End CA:00195113 For:NZO Type:MINE Time:2010-05-20:11:58:29

More announcements for NOG