Roc Oil has announced that it has hit oil at its Tuatara-1 exploration well offshore Taranaki. Intermittent gas shows were encountered in the well, which was drilled to a depth of 982m, over a drilled interval of between 780m and 900m. Roc Oil is targeting about 80 million barrels of potential recoverable oil reserves in Tuatara-1, which is located in PEP 38524 around 15km offshore north of the South Island. Roc said the well will be drilled to a proposed total depth of 2025m.
