TAG president Drew Cadenhead told PetroleumNews.net this morning that the Bonus Drilling Rig 2 spudded the well in licence PEP 38758 about 9.30pm yesterday.
Cadenhead said the Bonus Drilling rig would drill an 1835m directional well targeting several previously untested exploration zones.
“Mangamingi-1 is the first well to test the hydrocarbon potential of a number of different targets in this eastern part of the Taranaki Basin,” he said.
“We were encouraged by strong hydrocarbon indicators from the geochemical survey we conducted and followed that with a 2D seismic program that identified some interesting structures.”
TAG, which holds 100% equity in the licence, conducted the detailed geochemical sampling and a 35km 2D seismic survey over part of the 49.15 square kilometre permit last January.
“These seismic closures coincide with the geochemical anomalies,” he said.
“So we’ll drill this directional well through a number of potential zones.”
Cadenhead added that TAG saw potential in several shallow Miocene-aged sands – the conventional Kiore sands, similar to those found in Swift Energy’s Kauri oil field to the south; and the Urenui and Mount Messenger sands, which were producing at the nearby Cheal oil field that TAG and operator Austral Pacific Energy owned.
“But we’re also keen to test the unconventional potential in the fractured Murihiku Basement,” he said.
Mangamingi-1 is only the third well to be drilled in the eastern Taranaki hinterland and follows the 1964 Kiore-1 well, drilled by Shell BP and Todd, and Tiwakawaka-1 drilled in 2004 by Greymouth Petroleum.
Meanwhile, Cadenhead said the $NZ25 million ($A22 million) development of the Cheal field is continuing, in anticipation of full capability of 1900 barrels of oil per day by the end of the second quarter.
Foundation had been poured for the Cheal production facility, and the installation of three large oil storage tanks and fabrication of the first two separator vessels completed.
Workovers would commence later this month on the Cheal-3 and Cheal-4 wells to prepare these for long-term production. Also, the four wells from the Cheal-B site that were drilled late last year would be completed and tested for oil flow capability this month.
In addition, Cadenhead said the Ensign International Rig 19, currently drilling Cheal development wells, is due to spud Ratanui-1 in PEP 38741 onshore Taranaki next month.
The well is scheduled to be drilled to a 2120m target depth as a follow-up to last year’s successful Supplejack drilling program in nearby PEP 38765.
“Ratanui will further test the Mount Messenger potential in the proven hydrocarbon-prone Supplejack area," he said.
"This well will penetrate a separate anomaly from the Supplejack wells, but will be integral to the commercial development potential of the project as a whole,” he said.
Cadenhead last year told PNN that Ratanui and the two existing Supplejack wells should provide a reserve base sufficient to warrant economic development.
The PEP 38738-01 (Cheal) partners are operator Austral Pacific Energy (69.5%) and TAG Oil (30.5%). PEP 38765 partners are operator Austral (61.667%) and TAG (38.333%) and PEP 38741 partners are operator Austral (55%) and TAG (45%).
