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Todd joins AWE in offshore New Plymouth permit
10 August 2010 - Todd Energy has taken a 20 % stake in an exploration permit just offshore from New Plymouth.
Sources: AWE, Todd and Lindsay Clark
Todd has farmed into the AWE-operated Parihaka permit which covers 2850 sq km along the Taranaki coast south west of the Pohokura gas-condensate field.
The PEP 51558 permit is operated by AWE. Todd acquired its stake from all three previous partners, AWE, Mitsui and Mighty River Power. AWE and Mitsui now both hold a 30% stake while Mighty River and Todd each hold 20%.
Under the work programme one exploration well is to be drilled by 2012.
