Tap Oil Says Takahe-1 Well a Duster

Tap Oil reports that the Takahe-1, located onshore in the New Zealand Taranaki Basin Permit PEP38744, was a dry hole.

The well has drilled to a total depth of 1,600 meters. No significant hydrocarbon shows were reported and the well will now be plugged and abandoned.

The next Tap well to be drilled in the onshore Taranaki Basin will be Richmond-1 which is due to spud at the end of September.

PEP 38744 Joint Venture participants are Tap Oil as operator with 50%; OMV New Zealand with 35% and Todd Pohokura with 15%.