Huinga Ready to Blo !!

  1. 7,611 Posts.

    HOMEX - Brisbane

    Marabella Enterprises Limited, Operator for the PEP38716 Joint
    Venture, reports that preparations are underway for the extended
    production test of the Huinga 1B well. Surface production equipment
    is installed. Wireline operations have continued over the last
    several days to remove debris that had settled onto the safety plug
    in the tubing. Current indications are that the plug is now
    accessible and can be retrieved. Thereafter the wall will be swabbed
    to initiate production from both the Kapuni and Murihiku zones for an
    initial clean-up flow. After the clean-up phase, the Murihiku and
    Kapuni formations will be flow tested separately over periods of
    several days.

    The Huinga prospect is located on the prospective eastern margin
    trend in the Taranaki Basin, New Zealand, north of the recently
    drilled Makino-1. Huinga-1B has provided further confirmation of the
    prospectivity of this trend, initially established by the Rimu and
    Kauri discoveries, and further enhanced by the results of the
    Makino-1. Huinga-1B was directionally drilled from the existing
    Huinga 1 well bore, to target sandstones of the Tariki and Kapuni
    Group at a location approximately 550 metres west of the Huinga
    wellsite. Although the well did not encounter the Tariki sandstone,
    oil-bearing Kapuni Group sandstones were encountered directly beneath
    the Murihiku thrust block. The Tariki remains a prospective target,
    but at a location west of the current well bore.

    Bligh has a 24.80% interest in PEP38716, through its wholly owned
    subsidiary, Marabella Enterprises Limited and is Operator of the
    permit and the well. The other participants in the well and permit

    Preussag Energie GmbH 24.00%
    Swift Energy NZ Limited15.00%
    AWE New Zealand Pty Limited 12.50%
    Indo Pacific Energy (NZ) Limited 7.30%
    Pancontinental Oil & Gas NL 6.60%
    PEP38716 Limited 5.00%
    Springfield Oil and Gas Limited 4.80%*

    * Subject to Joint Venture and government approvals; Springfield Oil
    & Gas Limited is a wholly owned subsidiary of Impress Ventures Ltd.

    B D Emmett

    For further information please contact:

    Brent Emmett
    Telephone: (+612) 9332 5000
    Facsimile: (+612) 9332 5050
    Email: [email protected]
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