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

10 Jun 2010 11:29 am

NZO 10/06/2010 MINE

REL: 1129 HRS New Zealand Oil and Gas Limited

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

NZOG (New Zealand Oil & Gas Ltd) advises that the Tui SW-2 well has encountered hydrocarbons in the target sands.

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 has been drilled to a total measured depth of 3,749 metres. Progress since last week's report was 2,176 metres.

Oil shows were encountered as prognosed over 10 metres in the top of the objective Kapuni F Sands, which have proved productive at the adjacent Tui oilfield.

The significance of these shows will be evaluated by wireline logging over the next few days.

Participants in Tui SW-2 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:00195941 For:NZO Type:MINE Time:2010-06-10:11:29:31

More announcements for NZO