New Zealand Overseas Petroleum updates Amokura-1

The Amokura-1 well off Taranaki, New Zealand has reached 3,692 m and is drilling ahead in an 8 1/2-in. hole. Core No. 2 was cut from 3,670.5 to 3,684.5 m, and 14 m of core was recovered.

The Amokura-1 well off Taranaki, New Zealand has reached 3,692 m and is drilling ahead in an 8 1/2-in. hole. Core No. 2 was cut from 3,670.5 to 3,684.5 m, and 14 m of core was recovered. Initial descriptions indicate that the top of the primary objective F Sand is at 3,672 m. Strong oil shows in sandstone were observed down to the base of the core at 3,684.5 m.

Drilling has resumed with 8 m drilled to 3,692 m. The plan is to drill to total depth of 4,100 m and run wireline logs to establish the nature and extent of any hydrocarbon-bearing zones in the well.

New Zealand Overseas Petroleum Ltd. operates PEP38460 with 45%; AWE New Zealand Pty Ltd. has 20%; New Zealand Oil & Gas Ltd. holds 12.5% through subsidiary Stewart Petroleum Co. Ltd., Mitsui E&P New Zealand Ltd. 12.5%, and WM Petroleum Ltd. (a wholly owned subsidiary of Pan Pacific Petroleum) has 10%.

04/14/04

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