NZOG (New Zealand Oil & Gas Ltd) advises that at 0600 hours (NZ Time) today, the Hoki-1 well was at a total measured depth of 3,700 metres and was undertaking wireline logging. No significant hydrocarbon indications have been intersected in the well.
The Hoki-1 well is located in exploration permit PEP 38401 in the offshore Taranaki Basin and has been drilled by the Kan Tan IV semi-submersible drilling rig.
At the completion of the logging programme, the Hoki-1 well will be plugged and abandoned and the rig will be moved to the Tui SW-1 well location in petroleum mining permit PMP 38158.
The Kan Tan IV will drill the Tui SW-1 and Kahu-1 wells, which are both located nearby to the existing Tui area oil fields and infrastructure.
NZOG is a 12.5% participant in PMP 38158.
Participants in Hoki-1 and PEP 38401 are:
AWE (Operator) 50%
New Zealand Oil & Gas Ltd (through its subsidiary Petroleum Resources Ltd) 10%
OMV New Zealand Pty Ltd 21.25%
Todd Petroleum Mining Company Ltd (Todd Energy) 18.75%
