AWE to spud Tui development wells with Kan Tan-IV

Australian Worldwide Exploration (AWE) is considering drilling three or four types of exploration plays using the rig Kan Tan-IV during its summer exploration in the Taranaki basin.

Offshore staff

SYDNEY, Australia -- Australian Worldwide Exploration (AWE) is considering drilling three or four types of exploration plays using the rig Kan Tan-IV during its summer exploration in the Taranaki basin.

AWE says its first well, Hoki-1, will be a Cretaceous North Cape formation play in PEP 38401. The Hoki-1 structure is 70 sq km (27 sq mi) in size with 100 m (328 ft) relief giving a large potential. Water depth over the structure drops from 150 m (492 ft) to 900 m (2,953 ft).

Two wells, Tui northeast (NE) and Tui southwest (SW), are planned as extensions to the Tui oil field pool in the Kapuni Group “F10” sands. The Tui NE target is estimated to contain 10 MMbbl recoverable and Tui SW may contain 5 MMbbl recoverable, the company says.

AWE has also outlined two other possible targets adjoining the Tui pool - Tui southeast (estimated reserves of 10 MMbbl) and Kahu channel play (estimated 30 MMbbl reserves).

A fourth well proposed Tuatara-1, off the South Island’s D’Urville Island, is a Moki sands play similar to OMV’s Maari oil field. The top Moki sands at Tuatara contain a 10 sq km (3.8 sq mi) structure containing 90 m (295 ft) of relief.

The company is considering a fourth play type, the Bahamas Pleistocene biogenic gas play, in PEP 38483, west of Taranaki.

The semisubmersible rig Kan Tan-IV is scheduled to arrive in New Zealand in November.

06/30/2009

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