Mosman Oil & Gas, the New Zealand and Australia focused oil exploration and development company, reported Friday that drilling has started today, on the first of its three planned wells in the 2014 drilling program, at its Petroleum Creek Project in New Zealand.
On the first well, Cross Roads-1, Mosman plans to test Eight Mile and Cobden Limestone formations known to contain oil in offset wells. The well is being drilled vertically from a newly constructed well pad to an expected total depth of 1,312 feet (400 meters).
Mosman plans to release weekly drilling updates over the coming weeks.
John W Barr, executive chairman of Mosman commented: "We are pleased to commence drilling at Petroleum Creek so soon after the March 2014 IPO. The Board will meet onsite next week to review progress and also to meet with local contractors and stakeholders who have greatly assisted Mosman achieving this first milestone."
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