Austral Pacific Sees Oil & Gas from Cheal A3X

Austral Pacific Energy reports that the Cheal-A3X well in New Zealand was at a depth along hole of 1820m (5,900 ft) and has intersected the Mt Messenger sandstones which are the deeper exploration target of the well. Oil and gas shows have been encountered in sandstones below 1750m (5,700 ft).

These compare favorably with those originally observed, (but never flow-tested), in the Cheal-1 well which is approximately 500m to the south.

The significance of these shows cannot be assessed until electric logs are run in the well, after it reaches its target depth at 1900m (6,200 feet) along hole. It is expected that this depth will be reached in the next 24 hours.

Any decision as to whether or not to case Cheal-A3X and flow-test these sandstones or the previously reported Cheal Sands encountered higher in the well, will await completion of the electric logging program and the analysis of that information.