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Exploration Opportunity New Zealand
OMV New Zealand Ltd seeks partners to earn participating non-operated interest in seven of its key exploration permits in New Zealand. Four are offered jointly with Mitsui E&P Australia Pty Ltd. The Taranaki South blocks (near field) include PEP 51906 Matuku, PEP 60089 Aquitaine and PEP 60091 TeWhatu. The source rocks are Late Cretaceous Rakopi Formation coals and organic shales. The Taranaki North blocks (on trend) include PEP 57075 Cloudy Bay, PEP 60092 Ridgeline and PEP 60093 Toutouwai. The source rocks include the Late Cretaceous Rakopi and Wainui Formations coals and organic shales and the Paleocene Waipawa Formation marine shale. The Pegasus East Coast block (frontier), PEP 57073, has two primary plays, anticlines and minibasins. The source rocks include the Late Paleocene Waipawa Formation black shale, the Late Cretaceous-Early Paleocene Whangai Formation and the Late Cretaceous Glenburn Formation. Gaining entry into these seven exploration blocks offers a unique opportunity to access a balanced non-operated acreage position with limited near-term exposure and long-term exploration running room.
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