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New Zealand Energy Corp. (TSXV:NZ,OTCQX:NZERF) has announced that the Company has made its fifth oil discovery in the Taranaki Basin of New Zealand’s North Island.
New Zealand Energy Corp. (TSXV:NZ,OTCQX:NZERF) has announced that the Company has made its fifth oil discovery in the Taranaki Basin of New Zealand’s North Island.
As quoted in press release: Bruce McIntyre – Executive Director of NZEC
The fact that the Waitapu-2 well is flowing from natural reservoir pressure, as the Copper Moki wells did, further confirms NZEC’s geological model. Most Mt. Messenger wells in the region have required artificial lift almost immediately. We are continuing to refine our geological model based on drilling success to date and interpretation of the recently completed 3D seismic survey, and have many more prospects to drill that we feel are comparable to the Copper Moki and Waitapu discoveries.
Click here to read the New Zealand Energy Corp ((TSX:NZ)) press release