Tieke-1 is located in PMP 38158, 40 km off the west coast of New Zealand's North Island and approximately 8 km from the Tui oil field. The well will be drilled to a planned total depth of 3,600 meters, in a water depth of 122 meters and is expected to take 18 days on a "trouble-free" basis.
Following completion of operations at Tieke-1, the offshore drilling rig will commence the development drilling activities on the adjacent Tui Area Development.
Participants in Tieke-1 and PMP 38158 are:
--AWE, 42.5% --Mitsui E & P New Zealand Limited, 35.0% --Stewart Petroleum Company Ltd ("New Zealand Oil & Gas"), 12.5% --WM Petroleum Ltd ("Pan Pacific Petroleum NL") 10.0%
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