Field news and more

Happy holidays everyone!

We’re taking some well-deserved time off to enjoy our warm winter holidays (a nice benefit to being in New Zealand). See you in 2011!

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PEP 52181: An offshore exploration opportunity

We just completed the acquisition of a 20% interest in offshore PEP 52181, just 8 km from shore, operated by ROC Oil. The Permit contains the Kaheru Prospect, a Miocene-aged prospect on the same successful thrust belt play fairway as many significant Taranaki oil and gas fields, including: Rimu, Kauri, Manutahi immediately north, and the Tariki, Ahuroa, Waihapa and Ngaere (“TAWN”) fields further north. Immediately to the west, the large Kupe Gas-Condensate field is now also in full production. All in all, a good addition to our prospect portfolio.

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We just broke Cheal’s production volume record!

Between Cheal-BH-1 testing strong and hitting the highest daily oil and gas production volume in Cheal’s history due to workover operations, we’re having a pretty good month. Plus it’s summer down here……  

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Mackie Research commences TAG Oil coverage

Mackie Research, which focuses on Mining (Gold) and Energy (Oil E&P), recently initiated coverage of TAG Oil.

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Strong results at Sidewinder-1 flow test

Done with our 10-day sustained Sidewinder-1 production test and it’s all good. We drilled to a depth of 1601m and encountered 14 meters of net (22m gross) oil and gas bearing sandstones. We achieved stabilized flow rates of 8.5 million cubic feet of gas plus 44 barrels of oil per day for a total of 1461 barrels of oil equivalent (“BOE”) per day, with a flowing tubing pressure of 940 psi. The 4-Point Isochronal test indicated a tubing restricted maximum gas flow rate of 13 million cubic feet per day…

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Horizontal drilling in New Zealand…just days away

We’re releasing the drilling rig and mobilizing a service rig over to Cheal-BH-1 to complete our five-stage stimulation. Uphole mudlogs have recorded better than expected oil and gas shows in the secondary Urenui Formation, and in the Mt. Messenger horizontal section of the well, a total of 430m of continuous reservoir penetration is interpreted with high oil and gas readings. All stage packers have been successfully deployed, and we’re going to have the first horizontal multi-stage fractured well in New Zealand in a matter of days.

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Looking forward to Cardiff operations

The plan is to recommence development of the Cardiff deep gas discovery, targeting the various gas/condensate zones with horizontal-drilling and multi-stage fracturing developed specifically for these types of tight-sand gas reservoirs. Porosities and permeabilities found within the multiple Kapuni Sands Formation zones encountered in the Cardiff-1 (5050m total depth), Cardiff-2 and Cardiff-2A sidetrack (4931m total depth) wells are analogous to prolific tight-sand formations in Germany, Holland, the North Sea and North America, where new technologies have been successful in achieving dramatic increases to oil and gas flow rates and overall…

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Light oil discovery at Sidewinder

We’re quite pleased to see the results of our new light oil discovery. We drilled to a depth of 1,610 meters and hit 14 meters of net sandstone pay in the Mt. Messenger Formation. The well tested at a stabilized rate of 8.5 mmcf/d plus 44 bbl/d of oil for a total 1,461 boe/d. And electric logs indicate excellent reservoir qualities, with average porosities of 22.5% and oil saturations of 60%. We’ll do further testing with a couple delineation wells down-dip from the crest of the structure. Also looking at…

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Taranaki oil and gas exploratory & development drilling gets started

We just announced the next phase in TAG’s Taranaki program: exploratory and horizontal development drilling, and workover operations within our Sidewinder exploration and Cheal oil discovery acreage. Sidewinder is one of several prospects identified on permit-wide 3D seismic; we can’t wait to see what it yields. Simultaneously, a service rig will begin more optimization work on two wells within the Cheal Mining Permit. Lots of work and excitement ahead.

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