Octanex N.L. has been advised by OMV New Zealand Limited (OMV), the Operator of the offshore Taranaki Basin permit PEP 51906 (Permit), that a new 3D seismic survey has commenced in the Permit. OMV has confirmed that the survey vessel is on location, has deployed the cable array and commenced acquiring the 3D seismic survey at approximately 1:30 am NZST on 7 January 2014.

The survey, named Kaka, is planned to acquire approximately 400 km² of new 3D seismic data from within and adjacent to PEP 51906.

The survey area is situated on a north-east structural trend between the Maui oil and gas field and the Maari oil field. The objective of the survey is to enable more precise mapping of prospective oil plays in the Palaeocene Farewell Formation and Eocene Mangahewa Formation.

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