AWE confirms dry well at Tuatara-1

Monday 16th August 2010

AWE confirmed today it is plugging and abandoning the wildcat Tuatara-1 exploration well, offshore D'Urville Island.

The well was abandoned at 1,911 metres.

"Minor oil shows were intermittently reported over the interval 1,790 - 1,850 metres" but there were no commercial quantities, the company said in a statement to the NZX. Gas shows were also reported around 800 metres.

Tuatara-1 joins the growing list of wells to be plugged and abandoned this year following various campaigns using the Kan Tan IV and ENSCO-107 rigs.

Tuatara-1 is located in PEP 38524, in the western Tasman Bay in the southern part of the offshore Taranaki Basin. AWE, as operator, holds 60%, Roc Oil (Tasman) Pty is at 20%, Kea Oil and Gas is at 10%, and Carnarvon Petroleum (NZ) holds 10%.

Businesswire.co.nz

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