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Roc Oil JV awarded Kaheru permit off south Taranaki
3 June 2010 - Sydney-based Roc Oil (New Zealand) Ltd and three partners have been awarded a permit over the Kaheru prospect off the south Taranaki coast.
Sources: Roc Oil and Lindsay Clark
Roc is the operator and 50 % owner of the 171.5 sq km permit PEP 52181.
The other partners are Mighty River Power Gas Investments Ltd (20 %), L&M Energy Ltd (15 %) and Australian company Mosaic Oil NL (5 %).
Roc said the new permit contains the Kaheru prospect, which is on trend with the Rimu oil and gas field and Kauri gas and condensate field. The Kaheru prospect has the potential for oil and/or gas-condensate being trapped at several reservoir levels within the structure.
L&M Energy said Kaheru has an estimated mean prospective resource of 350 billion cubic feet of gas and 10 million barrels of condensate.
The prospect has 3D seismic coverage and the agreed work programme for the five-year term includes an exploration well (Kaheru-1) in year three.
Related links
Permit Map - Request a copy of the Crown Minerals Annual Report - More News
