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Bluff-1 had reached a revised total depth of 1,459m with wireline and drilling logs indicating that no significant hydrocarbons were encountered.
The well, which was located to the east of the recently acquired Kaimata 3D seismic survey was a permit obligation well and was considered high risk.
The Kaimata 3D seismic survey has now been completed and interpretation is underway. It is anticipated that several wells will be drilled based on this data by mid 2004.
Participants in Bluff-1 were Tap (New Zealand) 25%, Indo-Pacific Energy (NZ) (operator) 25%, Magellan Petroleum (NZ) 25% and AWE New Zealand 25%.
