New Zealand Energy Begins Completion of Taranaki Well

New Zealand Energy Corp. has achieved target depth at its Waitapu-1 well, evaluated open hole logs and commenced casing the well, with completion to follow. Waitapu-1 was drilled through the Urenui formation into the Mt. Messenger formation with a measured depth of 7,260 feet (2,213 meters) and true vertical depth of 6,316 feet (1,925 meters). The Company plans to perforate and test the Mt. Messenger formation.

Following perforation of Waitapu-1 the rig will be repositioned on the same drill pad to finish drilling Waitapu-2, which has been drilled and cased to 984 feet (300 meters) using a smaller rig.

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