By OGJ editors
HOUSTON, Aug. 26 -- Westech Energy New Zealand, a subsidiary of Denver-based Energy Corp. of America (ECA), has entered into a joint venture agreement with a Tap Oil Ltd. unit for an exploratory well off eastern New Zealand. Tap (New Zealand) Pty. Ltd., the operator, expects in late August to commence drilling Tawatawa-1 on Permit 38333, off southeastern North Island.
The well, 20 km off Wairarapa in water 200 m deep, will be a 1,500 m test of the Miocene. The 40 sq km prospect targets reserves greater than 1 tcf of gas equivalent.
ECA holds 50%, Tap, 35%, and Claire Energy (Australia) Pty. Ltd. 15%.
