Elevated Gas Readings at OMV’s Manaia Well (New Zealand)

Horizon Oil advises that the Manaia-2/2A well reached total depth of 2891 m MDRT on 4 November 2013, and the operator is currently conducting an open hole wireline logging operation to evaluate the well.

The well has achieved its objectives of drilling through the Moki Formation, the Mangahewa Formation, the underlying Farewell Formation and terminating in the North Cape Formation as planned. Elevated gas readings and oil fluorescence were observed in the Moki Formation. Fluid samples with indications of oil were recovered by the MDT logging program, and
several oil stained cores were recovered by the MSCT. Analysis of these samples is ongoing. The Moki Formation was cased prior to continuing the drilling. Elevated gas readings and oil fluorescence were also observed in the Mangahewa Formation as expected. These will be evaluated by the current logging program. The upper part of the Mangahewa Formation is currently being produced by an extended reach well drilled from the Maari Field well head platform and the data from Manaia-2 will contribute to optimization of a planned additional development well into this zone.
The forward program is to complete the wireline logging operation and then to perforate casing at specific points and conduct further MDT sampling across the Moki Formation.
Manaia-2/2A is located in PMP 38160 in the offshore Taranaki Basin, New Zealand. The well is operated by OMV New Zealand Ltd and is being drilled from the semi- submersible drilling rig Kan Tan IV. The well is located 1.25 km north of Maui-4 (which discovered the Manaia Field) and 6 km to the southwest of the Maari Field well head platform.

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Press Release, November 08, 2013