Tap Oil Spuds Kakariki-1 Well Onshore New Zealand

Tap Oil reports that the Kakariki-1 exploration well spudded on February 8, 2005. The well is located in PEP 38748 within the onshore Taranaki Basin.

Kakariki-1 will drill to a total depth of 1,825 meters, targeting oil plays within both the Mt Messenger Formation and Moki Formation sandstones. It is anticipated the well will take 11 days to complete.

PEP 38748 Joint Venture Participants are Tap Oil as operator with 50%; Magellan Petroleum with 25%; Austral-Pacific Energy with 25%.