Ocean Bounty Begins Work for New Zealand O&G

New Zealand Oil & Gas says the Ocean Bounty semisub is now on location in the PEP38460 area and is preparing to commence drilling of the Amokura-1 well.

The Kapuni 'F' sands objective is expected at around 3700m in mid April.

New Zealand Oil & Gas Limited has a 12.5% interest in PEP38460. Other participants in the venture are New Zealand Overseas Petroleum Limited (operator) 45%; WM Petroleum Limited 10%; AWE New Zealand Pty Ltd 20%; and Mitsui E&P New Zealand Limited 12.5%.