Origin Encounters Good Gas Shows at Momoho-1

Operator of the Kupe mining license, Origin Energy Resources Ltd, said that the well encountered the gas shows upon penetration of the Farewell reservoir at 2,896 m.

"Although the presence of gas shows is encouraging, it is not possible to comment on their commercial significance until the well has drilled through the entire reservoir and logs are acquired over this section", Origin said on behalf of the Kupe joint venture.

Well drilling at Momoho-1 has recently made very good gains, drilling just over 1 km down in the four days since the operator's last report when the well was down to 1,845 m.

Origin's latest report said the drill crew was preparing to pull out of hole after drilling the 12-1/4 inch section prior to running 9-5/8 inch casing.  The well began drilling on 13 June.

The target depth for the well is 3,140 m.

The Farewell Formation is the main hydrocarbon bearing zone in the adjacent Kupe field.

Momoho-1 is targeting both the Farewell and Puponga Formations in a complex structural high situated between the Kupe South 4 non commercial gas discovery and the Kupe South 5 non commercial oil discovery.

Three production wells have recently completed from the Kupe platform which has a pipeline to the onshore production station near Hawera.