New Plymouth-based TAG president Drew Cadenhead told EnergyReview.net today that the Ensign International Energy Services (formerly OD&E) Rig 19 had spudded Arakamu-1 in PEP 38757 (100% TAG interest) yesterday morning. It is expected to take about two weeks to drill the shallow Miocene-aged prospect, targeting the Mount Messenger-Moki sands.
“This well is notable in that it’s our first well as operator and first sole risked well in onshore Taranaki. We are excited about it,” Cadenhead told ERN.
“It’s only about four kilometres from the commercial Cheal oil pool – another shallow Micoene-aged prospect which could contain three million barrels or more of oil.
“We had some 3D seismic shot over the Arakamu prospect last year and have a top-five list of outcomes we would like to see from Arakamu.”
The well would be deviated slightly to an anticipated along-hole depth of about 2367m and a true vertical of 2200m.
A year ago, TAG Oil took over two licences in the heart of onshore production territory in the Taranaki Basin, PEP 38757 and 758, from South Pacific Energy and immediately started a 15 square kilometre program over the Arakamu prospect.
PEP 38757 is located between the commercial Waihapa field and the Cheal oil pool, which has produced over 20,000 barrels of light, sweet waxy crude for operator Austral Pacific Energy (36.5% equity) and its shallow PEP 38738 partners Cheal Petroleum (30.5%) and International Resource Management Corporation (33%).
Austral last month presented a front-end engineering and design (FEED) plan for Cheal and plans to drill two more wells in the field this quarter.
