"Swift does not have any commitment to drill a series of wells," company executive vice-president Bruce Vincent told EnergyReview.Net from Texas.

"We are the operator of the well currently being drilled at Tuihu and we are considering using that rig to drill a development well, the Tariki-D1 well, in the Tariki field following the drilling of the Tuihu prospect."

If Tariki-D1 is approved, it will be Swift's first exploration/appraisal initiative in the commercial Tariki, Ahuroa, Waihapa and Ngaere (Tawn) fields since buying them from Shell New Zealand in late 2001. It will also show Swift's intent in maximisinig production from these fields which have been producing since the mid-1990s.

Vincent said the Tariki-D1 would target the Tariki sands, the formation currently being produced from. Tariki and Ahuroa currently produce about 310,000 barrels of oil/condensate, 11 bcf of gas and 180 tonnes of LPGs a year.

Rumours had the big Parker Drilling 246 rig contracted to Swift Energy New Zealand for a six-month program, which started earlier this month with the Tuihu-1A re-entry/sidetrack, but also included the back-to-back Tarata-1, Matai-1 and Tawa-1 wells.

However, Vincent said Swift Energy was reviewing the Tawa and Matai prospects - in different parts of onshore licence PEP 38719 from the commercial Rimu and Kauri fields - though there were presently no confirmed drilling plans. "These are under review now as a part of our budget plans for 2004, but consideration would only be given to one of these wells next year, not both."