Austral Pacific Wins Southernmost Offshore Taranaki Permit

Wellington-based Austral Pacific Energy Ltd has been awarded the southern Taranaki Basin. The work program requires Austral Pacific to reprocess and interpret existing seismic data a minimum of 250 km of aeromagnetic data and completion of either 200 km of 2D seismic data or 75 sq km of 3D seismic data in the first year.

An exploration well is also required within three years.

Only one well has been previously drilled within the permit area: Surville-1 drilled in 1976 by NZ Aquitaine Petroleum near the western edge of the current permit.

PEP 38524 is Austral Energy's only offshore permit, having recently relinquished its offshore Canterbury permit.

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