Exploration & Production
NZOG Scores Taranaki Basin Exploration Permit
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New Zealand Energy Corp. has been awarded a new exploration permit in the annual New Zealand block offer, expanding the Company's net onshore exploration land package in the Taranaki Basin by 16,455 acres (66.5 km2).
NZEC lodged a bid for Block TAR7 (PEP 54867) in a 60/40 joint venture with a subsidiary of New Zealand Oil & Gas (NZOG). Joint venturing to advance this permit brings together two companies with extensive experience in the Taranaki Basin, skilled exploration and development teams, and the financial resources to thoroughly appraise and advance the property.
PEP 54867 lies within a large underexplored part of southwest Taranaki, immediately adjacent the large Kapuni gas-condensate field and contiguous with the south end of NZEC's Eltham permit. With the Kapuni field and…
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