Tap Oil Begins New Zealand Onshore Drilling Program

Tap Oil Taranaki Block PEP 38741
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Tap Oil reports that the Honeysuckle-1 exploration well spudded earlier this week. The well is located in PEP 38741, onshore Taranaki Basin New Zealand.

The primary objective of the Honeysuckle structure is the Upper Miocene Mt. Messenger Formation, with secondary objectives including channel sandstones of the overlying Urenui Formation. The well will be drilled to a total depth of 1700 meters, and is estimated to take 11 days.

The Honeysuckle-1 well is the first of a significant drilling program to be conducted in the onshore Taranaki Basin in New Zealand over the coming months. Following Honeysuckle-1, five other Mt Messenger type wells are being prepared by Tap. This will be drilled in a continuous program commencing in the third quarter.

Joint Venture Participants are Tap with 50%; Austral Pacific Energy as operator with 30% and Durum Energy with 20%.

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