Roc Oil holds a 40% interest, and is operator in PEP 38767; Westech Energy New Zealand and Bridge Petroleum each hold a 30% stake. The permit extends south of the McKee field and west of the Tariki and Ahuroa fields.
In announcing a six-country 30-well program, Roc Oil said that the Taranaki well followed the successful completion of the A$1 million Totara 3D seismic survey, which covered 35 sq km.
Last year, Roc Oil said that a review of mud log data from the Totara-1 well drilled in 1987 shows the well may contain 25 m of previously unrecognized net gas pay in a structure believed to have a potential of 50 to 100 billion cubic feet of recoverable gas.
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