TAG Oil Completes Drilling at Cheal-E2 Exploration Well in Taranaki Basin

Canadian-based exploration and production company East West Petroleum Corp. provided Wednesday an operations update on the ongoing nine well exploration drilling program in the Taranaki Basin of New Zealand with joint venture partner and operator, TAG Oil Ltd (TAG).

The company has been informed by TAG that the Cheal-E2 well located in the Cheal North exploration permit has reached total depth of 7,211.2 feet (2,198 meters), and that the operation was completed on time and on budget. TAG also reported that well logs from the Cheal-E2 well indicated hydrocarbon bearing strata was encountered within the Urenui and Mt. Messenger formations supporting the decision to complete and production test the well.

Production testing of the Cheal-E-2 well, as well as the Cheal-E-1 well, which well logs also indicated the presence of hydrocarbon bearing strata in the Urenui and Mt Messenger formations, is expected to commence in mid October.

The Nova-1 drilling rig will now be used to drill the Cheal-E-3 well, which will test an additional identified Urenui and Mt. Messenger prospects within the Cheal North permit.
 
Additional information on East West’s Taranaki exploration program can be found in the company’s press release dated Aug. 19.

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