Antrim reports multiple oil and gas bearing intervals at Kauri well

Jul 23, 2001 02:00 AM

Antrim Energy reported that the Kauri A-1 well in New Zealand (PEP 38719) has reached its planned total depth of 4,500 metres. Several significant hydrocarbon-bearing intervals have been encountered in this well at various depths. The well will be logged and additional production casing set to a depth of 3,500 metres. This will be followed by extensive testing and evaluation of selected intervals.
The initial hydrocarbon-bearing interval was encountered in the Manutahi Sandstone (1,142 mm to 1,232 m) with an oil column extending over a 17 metre interval with porosities ranging up to 27 % and permeability up to 800 millidarcies. A second hydrocarbon-bearing interval was encountered in the Kauri Sandstone (2,888 mm to 3,154 m) with oil shows extending over a gross interval of approximately 266 metres.
The third and fourth hydrocarbon-bearing intervals were encountered in the Tariki Sandstone (3,397 mm to 3,406 m) and the Rimu Limestone (3,441 mm to 3,451 m). The well did not penetrate the sedimentary section below a second thrust fault present in the Rimu area.

The Operator currently plans to contract a second drilling rig to evaluate the shallow Manutahi Sandstone and move the larger Kauri drilling rig back to the Rimu B pad to continue the delineation of the Rimu area and prepare for the commencement of production operations by the end of the year. The next exploratory well to test the deeper targets at Kauri will be planned following a complete evaluation of the prospective intervals in Kauri A-1.
Stephen Greer, Chairman and CEO of Antrim Energy, said that, "The Kauri A-1 well has re-confirmed our view that the Rimu -- Kauri structure is a 'world class discovery' with multiple oil and gas bearing intervals occurring over an extensive area. The discovery of two additional relatively thick and shallow oil and gas bearing intervals, the Manutahi Sandstone and the Kauri Sandstone, will add significantly to the value of what is essentially now a development project.

Antrim holds a 5 % working interest in PEP 38719 and the Kauri well. The other permit holders are Swift Energy New Zealand (Operator, 90 %) and Bligh Oil and Minerals (5 %). Antrim is committed to a strategy of growth through high impact global exploration supported by cash flow from an expanding production base.

Source: Antrim Energy
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