EXPLORATION

New capital a must for Cheal expansion: Austral

AUSTRAL Pacific Energy will look for capital investment for a staged drilling campaign at its Cheal oil field onshore Taranaki, New Zealand, if it succeeds in its optimisation program.

"We have already identified some further drilling locations but we need access to capital to do this," Austral chief executive Thom Jewell told PetroleumNews.net from Wellington this morning. He added...

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