Melbana Energy has announced that it spudded Pukatea-1 exploration well onshore New Zealand.
Melbana Energy has announced that it spudded Pukatea-1 exploration well onshore New Zealand.
Pukatea-1 is located within permit PEP 51153. Melbana holds a 30 per cent stake in the asset, with TAG Oil holding an operating interest of 70 per cent.
The well is being drilled by the Nova-1 rig to a prognosed total depth of approximately 3,170 metres and is expected to take 33 days to reach the primary Tikorangi Limestone objective.
The well is being drilled from the same drilling pad as the Puka-1 and Puka-2 suspended producing wells.
Melbana’s CEO Robert Zammit, commented: “We are looking forward to the results of this well as success will be transformational for Melbana given thescale of the prospect and the potential for a prompt commercial development. Bringing this type of high reward opportunity forward is consistent with our mission to provide our shareholders with exposure to high impact exploration opportunitiesopportunities,” he added.
Source: Pipeline ME
