Todd Undertaking Large Onshore 3D Survey in SW Taranaki

Todd Energy is currently undertaking a 90 sq km 3D seismic survey in the Opunake area of onshore Taranaki.

Todd Energy's chief executive, Richard Tweedie, said the survey in PEP 38749 would be the third largest 3D survey to be undertaken in onshore Taranaki.

Mr. Tweedie said the shot hole drilling is completed and the seismic acquisition is due for completion by the end of April.

Todd Energy's subsidiary, Todd Petroleum Mining Company Ltd, acquired the permit last year from Geosphere Exploration Ltd.

Mr. Tweedie said that leads have already been identified from previous 2D seismic and prospects will hopefully be identified after interpretation of the new 3D data.

Only one well has ever been drilled within the permit, the Te Kiri-1 well drilled by Petrocorp in 1986, to a depth of 4700 m.