New Zealand

By OGJ editors
HOUSTON, Jan. 4 – An internal assessment indicates a best-estimate resource of 19.1 million stb of original oil in place on the Winchester exploration permit PEP 38748 in New Zealand’s onshore Taranaki basin.

TAG Oil Ltd., Vancouver, BC, which controls 100% of the permit, said the resource is assigned to the six drill-ready prospects. The resources were determined from 3D seismic data, well log data, core pyrolysis, and analog field data.

The oil is believed to be in the Miocene Mount Messenger formation on the permit, between TAG Oil’s Cheal oil and gas discovery under appraisal and large Ngatoro oil and gas field.