New Zealand Energy drills seventh well on Eltham Permit

11/16/2012

New Zealand Energy drills seventh well on Eltham Permit

WELLINGTON -- New Zealand Energy Corporation (NZEC) has commenced drilling its seventh well on its 100%-owned Eltham Permit in the Taranaki basin.

On November 10, NZEC commenced drilling the Arakamu-2 well, targeting the Mt. Messenger Formation at an approximate depth of 2,300 m. Drilling is proceeding well and is currently at about 1,500 m. NZEC expects to spud Arakamu-1A in December, targeting the Moki formation at approximately 2,700 m.

NZEC plans to drill Arakamu-1A using the surface casing of the existing Arakamu-1 well, drilled by a previous permit holder in 2006.

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