Exploration & Production
East West Bags Taranaki Basin Participation Interests
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East West Petroleum Corp. has been awarded participation interests in three attractive exploration concessions in the Taranaki Basin, onshore New Zealand.
The three petroleum exploration permits 54876, 54877 and 54878, part of a 2012 Government of New Zealand competitive exploration bid round, lie within the emerging Taranaki onshore Basin oil and gas fairway, offsetting TAG Oil Ltd.’s Cheal Field production permit and New Zealand Energy Corp.’s Copper Moki discoveries. The 2012 awards were announced in Wellington on December 11th by the Honourable Phil Healey, Minister of Energy and Resources.
Under the terms of the work program bids, the Company and TAG have committed to an extensive drilling program in 2013. A minimum of 9 exploration wells are planned in 2013, with TAG’s Cheal…
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