Octanex N.L., an Australia-based exploration firm, has been advised by OMV New Zealand Limited, the Operator of the Matuku-1 exploration well being drilled in the offshore Taranaki Basin permit PEP 51906 in New Zealand, that at 06:00 hours (NZST) Tuesday, Dec. 24, the well was at a depth of 10,390 feet (3,167 meters) MDRT (measured depth below rotary table) and preparing to drill ahead in the 12.25 inch hole.

Planned operations over the coming week are to complete the 12.25 inch hole section, run and cement in the 9.625 inch casing string and then carry out a leak-off test prior to drilling the 8.5 inch hole through the zones of interest. The well is targeting the hydrocarbon potential of the Kapuni Group Farewell Formation F sandstone reservoir (T10 sands); with sandstones of the Kapuni Group Kaimiro Formation D Sand (T20 sands) and Pakawau Group North Cape Formation (K90) being secondary targets.

Tags: Octanex N.L.