Nicks Head East, Coast Basin Petroleum Exploration Permit 50940

100% Interest: 112,010 acres
PEP 50940 is located in the northern, oil-prone area of the East Coast Basin where local oil and gas seeps confirm a working hydrocarbon system. The sparsely explored area has potential for both large conventional Miocene prospects and widespread unconventional fractured oil-shale opportunities in the rich Waipawa Black Shale Formation and the 300-500m thick Whangai Shale Formation.

Expanding Our Reach North
This new permit is highly complimentary to the existing leads and unconventional fractured oil-shale opportunities identified in TAG's adjoining Waitangi Hill permit (PEP 38348). Our field and subsurface work in PEP 38348 indicates that potentially large prospects extend into this new area.