New Zealand: AWE’s Tuatara-1 Starts Drilling

AWE Limited advises that the Tuatara-1 exploration well started drilling at 1000 hours (NZ time) on Wednesday July 28, 2010. At 0600 hours today the well was at a measured depth of 160 metres after running and cementing 30” conductor.

Tuatara-1 is located in PEP 38524, in the western Tasman Bay in the southern part of the offshore Taranaki Basin (see attached map). The well will target the Moki Sandstones within the Tuatara prospect, which is defined by

the Malvern 2D seismic survey. It will be drilled in approximately 50 metres of water to a proposed total depth of 2,025 metres.

Participants in PEP 38524 are:

AWE Limited (Operator) 60.0%

Roc Oil (Tasman) Pty Limited 20.0%

Kea Oil and Gas Limited 10.0%

Carnarvon Petroleum (NZ) Limited 10.0%

[mappress]

Source: Awexplore, July 29, 2010: