Mosman Oil and Gas to Drill for Oil, Gas in New Zealand's Murchison Permit

Australia and New Zealand focused Mosman Oil and Gas is progressing with exploration plans to drill on its 100 percent owned Murchison Permit PEP 57068 in the South Island of New Zealand.

The permit contains the existing oil and gas discovery at Blackwater-1.

Mosman met with relevant parties in order to advance formal negotiations and contracts with local land owners and authorities with regards to land access contracts and regulatory consents in order to drill.

“The company can now confirm it has determined the preferred drilling location, and obtained New Zealand Petroleum and Minerals (NZPAM) approval to name the well, Te Wiriki-1. The landowner has approved the well location in a flat grazing paddock close to the road. The well is planned as a vertical exploration well with an initial target depth of 1,200m, but will be designed to drill deeper if appropriate,” the company said Tuesday adding the objective of the well is to determine the presence of hydrocarbons, stratigraphy, seal and reservoir potential of the formations within the Te Wiriki Anticline.

An independent technical report by SRK dated 28 April 2015 estimated the conventional prospective oil resources at the Te Wiriki Anticline to be a Pmean of 1.13 million barrels. The report also identified Pmean tight gas and oil prospective resources of 13,695 Bcf and 164 million barrels respectively.

It is expected the Te Wiriki-1 well will test the conventional target as well as validate the tight gas potential of the Murchison Permit as a secondary objective.