New Zealand Energy Provides Operational Update

New Zealand Energy Corp. (TSXV:NZ,OTCQX:NZERF) has announced an update on its eight-well exploration program, currently in motion  in the Taranaki Basin of New Zealand’s North Island.

Highlights from the press release:

- Arakamu-2 has been completed across 18 metres in two intervals. The well demonstrated good inflow and pressure build-up but downhole mechanical issues have delayed testing

- NZEC plans to begin construction of its fourth drill pad next week. Wairere is located approximately 3.75 km southwest of the Company’s Copper Moki site and 7.5 km southwest of the Waihapa Production Station. NZEC has provision to drill up to six wells at the site

- The current eight-well program is the start of continuous drilling focused on increasing production and cash flow. NZEC expects to finish the remainder of the eight-well program by the end of Q1-2013 as the Company advances toward its production objective of 3,000 boe/day, and will then move directly into its 2013 exploration program

Click here to read full Marketwire press release. 

Get the Latest Oil Investing Stock Information

Get the latest information about companies associated with Oil Investing delivered directly to your inbox.


By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

resource ebook2

Get the top stories on resource investing FREE!

Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.

Leave a Reply