New Zealand, PEP38259
HISTORY
In 2H 2008, ROC acquired its interest in New Zealand via acquisition of Anzon Australia Limited.
ROC’s New Zealand assets comprise a non-operated interest in exploration licence PEP38259 in the Canterbury Basin, off the central east coast of New Zealand’s South Island.
REGIONAL ACTIVITY
- Several wells have been drilled around and within the permit with no commercial success, but with indications of the potential for gas/condensate.
GEOLOGY
- The Canterbury Basin formed when New Zealand rifted from Antarctica around 85 million years ago.
- The target reservoir is the Cretaceous Shag Point Formation sandstone and coal measure sequence.
- The main plays are drapes over basement highs, or stratigraphic pinch-outs.
PERMIT SIZE
- 1,654km² gross (248km² net).
JV PARTICIPANTS AND INTERESTS
| NZOG 38259 Limited |
40% |
| AWE New Zealand Pty Ltd (Operator) |
25% |
| Beach Petroleum (NZ) Pty Ltd |
20% |
| Roc Oil (New Zealand) Limited |
15% |
ACTIVITY STATUS
Exploration and Appraisal
Two exploration wells have been drilled in the 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.