This morning the well, in licence PEP38718, was over 4234m towards the target depth of 5100m and preparations were being made to sidetrack the well as planned, said NZOG exploration manager Eric Matthews.
The primary targets are reservoirs within the Tariki Sandstone and Eocene-aged Kapuni Formation and NZOG's estimated potential for each of these reservoirs is 50 bcf of gas.
The Tuihu Prospect is a large structure 24km north of Swift Energy's Waihapa production station, to which the well will be linked in the event of commercial discovery.
