Exploration and appraisal
Canterbury Basin
Two exploration wells have been drilled in the PEP38259 permit (Galleon-1 in 1995 and Cutter-1 in 2006). Both had gas and/or condensate shows. The 480km Barque 2D seismic survey was acquired in 1Q 2009 over the Barque prospect. ROC notified the joint venture of its intention to withdraw from the permit in November 2011. The finalisation of ROC's withdrawal was completed in 1Q 2012.
Taranaki Basin
Tuatara-1 was drilled in PEP38524 in 3Q 2010, targeting stacked Miocene aged turbidite fan sands in a structure analogous to the Maari oil field. Minor oil shows were reported but there were no commercial quantities and the well was plugged and abandoned in August 2010. Following a permit wide prospectivity review, the joint venture surrendered the permit to the New Zealand government effective 30 September 2011.
PEP52181 contains the promising Kaheru prospect which is on trend with the Rimu and Kauri fields. The agreed work program for this permit has a well in Year 3 (2012/13). Interpretation of the reprocessed Kaheru 3D seismic dataset was completed and incorporated with structural modelling.
ROC notified joint venture partners of its withdrawal from PEP52181 in March 2012 and is awaiting necessary government approvals before the withdrawal is finalised.
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