Sharechat Logo

Work plan for Great Southern Basin tweaked

Friday 8th April 2011 1 Comment

Text too small?

The work plan for exploration permits held by a joint venture in the Great South Basin is being tweaked ahead of decisions on drilling.

The partners believe that there are a number of prospective areas which may benefit from 3D seismic definition prior to drilling and applications to modify the current work commitments to include the acquisition of 3D seismic data and or drilling in the permits were approved by the Ministry of Economic Development on March 25.

The Great South Basin permits are held by OMV NZ Ltd, which is operator of the project and has a 36 percent interest, PTTEP NZ Ltd has 36% and Mitsui E & P Australia Pty has 28%.

"Allowing for either drilling and or 3D seismic acquisition during the next phase of work gives us greater flexibility as we work through our next steps," managing director for OMV New Zealand, Wayne Kirk said.

The joint venture wants to make a decision to commit to further work by July 10th.

The Great South Basin is south of the South Island.

 

NZPA



  General Finance Advertising    

Comments from our readers

On 8 April 2011 at 4:33 pm Neil said:
This sounds interesting. I remember the float of Southern Petroleum before the three wells drilled.There were lots of stories, all indicate oil was struck but in difficult locations. The shareholders paid for tests etc and probably won't get in this time.My picking is there will be a strike of some type.
Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report