DRILLING

Greymouth strikes in Chile, laments NZ tax law

NEW Zealand private company Greymouth Petroleum has confirmed first flows of gas and condensate from its Chilean joint venture exploration but says New Zealand tax law changes have cost it dearly and delayed its South American exploration program.

Auckland-headquartered Greymouth recently said that its Chilean subsidiary PetroMagallanes had flowed oil and gas from the Rio del Oro-1A well in the Caupolican licence, located on Tierra del Fuego at...

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