The partners in the onshore exploration well, Pukatea-1, said yesterday that they will continue testing of the well that has reached its target depth.
TAG Oil Ltd (TSX: TAO; OTC: TAOIFF) is 70% owner of the well on PEP 51153 with Melbourne-based Melbana Energy Ltd (ASX: MAY) holding the other 30%.
Yesterday they both announced the well had reached its target depth of 3,100 metres measured depth after penetrating a thickened overlying interval without intersecting the Tikorangi Limestone target.
About 160m of intermittent hydrocarbon shows were recorded within the section between 2,520 and 2,680 metres MD.
Melbana said a similar interval is present in several offsetting wells to Pukatea-1, specifically Hu Road-1 and Waihapa-6 and the joint venture was “sufficiently encouraged to run wireline logs to evaluate these shows and provide more information and clarity around this interval.”
The partners said that further to the successful Mount Messenger secondary target oil zone result previously reported, they were planning to plug the well back to the Mt Messenger oil zone and complete the well to enable a future production test to evaluate the oil zone as a potential future oil producer.
Melbana’s chief executive Robert Zammitt said a successful test result of the Mt. Messenger oil zone will greatly enhance the likelihood of a restart of oil production from the currently suspended Puka oil field.
TAG Oil’s CEO Toby Pierce wireline logs will give more information and clarity around the Mt Messenger oil zone and whether it is worth investigating further.
Companies mentioned in article