The well in located in PEP 38748 in New Zealand in the onshore Taranaki Basin.
Hihi-1 is the first of a five well program to explore several prospects identified on the Kaimata 3D seismic survey.
The drilling rig will next go to an adjacent Joint Venture for a short program of approximately ten days, and then will return to drill to the Tap well program at Miromiro-1, Hursthouse-1, Kakariki-1 and Takahe-1.
PEP 38748 Joint Venture Participants are Tap Oil as operator with 50%; Magellan Petroleum with 25% and Austral Pacific Energy with 25%.
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