Pukatea-1 Well Onshore New Zealand Spuds

Melbana Energy Limited revealed Wednesday that the Pukatea-1 exploration well onshore New Zealand has spudded.

The well is being drilled by the Nova-1 rig, from the same drilling pad as the Puka-1 and Puka-2 wells, to a total depth of approximately 3,170 metres and is expected to take 33 days to reach the primary Tikorangi Limestone objective.

Pukatea-1 is located within permit PEP 51153. Melbana holds a 30 percent stake in the asset, with TAG Oil holding an operating interest of 70 percent.

“We are looking forward to the results of this well as success will be transformational for Melbana given the scale of the prospect and the potential for a prompt commercial development,” Melbana’s CEO Robert Zammit said in a company statement.

“Bringing this type of high reward opportunity forward is consistent with our mission to provide our shareholders with exposure to high impact exploration opportunities,” he added.


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