AWE: Tui SW-2 Oil Not Viable

Taranaki Basin
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AWE reported that wireline logging is still in progress at the Tui SW-2 exploration well. A wireline evaluation of the well has established that an economic oil accumulation is not present at the well. Once logging operations are completed, a 7-inch liner will be run so that the well can be used as a future gas injector. The Tui SW prospect is located in mining license PMP 38158 in the offshore Taranaki Basin and is adjacent to the producing Tui oil field. AWE Limited operates the license, holding a 42.5% interest.

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