New Zealand Energy Corp., Vancouver, BC, has gauged a light oil discovery at the Copper Moki-1 well on the northern part of the 92,466-acre Eltham permit in New Zealand’s Taranaki basin and is applying for a mining permit to establish long-term production.
NZEC has 100% interest in the well, which flowed 41.8° gravity oil at a consistent 1,100 b/d with 855 Mcfd of gas from the Miocene Mount Messenger formation over a 48-hr period.
The company has run pressure recorders for an extended build-up and will place the well on extended production test to determine reservoir size and flow conditions. The well is near production facilities.
NZEC completed Copper Moki-1 in three sands over an interval of 12.2 m in the Mount Messenger, a thick sequence of turbidite sandstones at 1,800 m. The company also perforated and tested a portion of the shallower Urenui formation. Early results showed potential for oil and gas production, but the Urenui zone is suspended for the near term to focus on the Mount Messenger pay.
NZEC said it has identified 30 onshore and offshore structural and stratigraphic leads on Eltham of which eight are considered key prospects slated for drilling in the short to medium term. The four main target zones are the Moki, Mount Messenger, Urenui, and Kiore turbidites.