Origin exploration manager Rob Willink told PetroleumNews.net that his company's application to extend the 12,630 square kilometre licence PEP 38262 by 940 sq.km was to ensure "total areal coverage" over the large Caravel and Carrack prospects.
He added that Origin was very keen on Carrack and Caravel but wanted some farm-in partners to share some of the exploration risk of drilling in this frontier basin. Origin presently owns 100% of PEP 38262.
"These prospects have been worked up to drillable status and we are keen to meet our work program commitments that include acquiring more seismic and continuing with our studies, in preparation for drilling sometime in 2009," he said.
Origin principal geophysicist Wayne Mogg told the 2008 New Zealand Petroleum Conference in Auckland last month that the Carrack and Caravel structures, with closures of 200-220sq.km and 54-78sq.km respectively, were among the best prospects Origin had so far identified in New Zealand.
Both prospects have the potential to host several trillion cubic feet of gas or many hundreds of million barrels of oil.
Origin is set to acquire at least 500km of 2D infill seismic later this year, continue with its geological and geophysical studies, and commit to drilling an exploration well by August next year.
Willink also told PNN that Origin was already in discussions with AWE, and Great South Basin operators ExxonMobil and Austria's OMV, regarding "linking together" to use a semi-submersible rig in New Zealand waters for a multi-permit, multi-well program off the South Island.
However, he added that in the current tight global rig market, that might not be possible until around 2010.
Meanwhile, AWE, which took over from Tap Oil late last year as operator of offshore Canterbury lease PEP 38259, has dropped nearly 5000 sq.km of the 6647 sq.km licence.
It is understood the acreage surrendered is the inshore part of the permit and that AWE has retained acreage containing the Barque, Cutter, Galleon and Galleon South structures in deeper water further offshore.
AWE corporate development manager Garry Marsden told PNN he could not confirm this but that further details should be made available soon.
Work program commitments for the permit for the next two years include completing a source rock modelling review in the vicinity of the unsuccessful Cutter-1 well that was drilled by the Ocean Patriot semi-submersible drilling rig in late 2006; completing various seismic studies regarding the Barque, Cutter, Galleon, Galleon South and Galleon South West prospects; and committing to drill an exploration well.
AWE has also dropped 36.8 sq.km of the 467.2 sq.km offshore Taranaki Tui mining licence PMP 38158.
The PEP 38259 partners are operator AWE (25%), Tap Oil (40%), Beach Petroleum (20%) and Anzon (15%).
The Tui partners are operator AWE (42.5%), Mitsui E&P NZ (35%), NZOG (12.5%) and Pan Pacific Petroleum (10%).
