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Westech takes stronger role in four coal seam gas permits
17 December 2004 - Denver-based petroleum exploration company Westech Energy New Zealand has taken a more prominent role in coal seam gas exploration by taking full ownership of four permits in the South Auckland, Waikato and King Country areas of the North Island.
John Frederick, Westech’s exploration manager, said from Colorado that the company had taken advantage of an opportunity to take over the 50% interests in the PEP 38612, 38613, 38616, and 38617 held by former partner, and operator of the permits, Bridge Petroleum Ltd.
He said the coal seam gas play in New Zealand was in the early exploration phase but had the potential to provide a significant gas resource to the country.
Westech is drilling the first of two coal seam core holes to determine the gas content of the coal measures. Drilling of both core holes will be completed in December, he said.
Denver is a major western USA centre for coal seam gas exploration and production in the Powder River, San Juan and Raton Basins.
Westech New Zealand currently has interests in a widespread portfolio of 14 exploration permits. Three of these permits are in the East Coast basin including a second offshore permit issued last month off the Wairarapa coast. In this permit PEP 38340 Westech has a 50% interest in the 5950 sq km area with operator Tap (New Zealand) Pty Ltd (35%) and Claire Energy Pty Ltd (15%).
Westech also holds interests in six onshore and one offshore Taranaki Basin permits.
