New Zealand: oil discovery

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.

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