The company said that no significant hydrocarbon indications have been intersected in the well. At the completion of the logging program, the Hoki-1 well will be plugged and abandoned and the rig will be moved to the Tui SW-1 well location.
Hoki-1 was the first well in AWE’s 2010 drilling campaign in the offshore Taranaki Basin. After completion of operations at Hoki, the rig will move to PMP 38158 to drill the Tui SW-1 and Kahu-1 wells, which are located nearby to the existing Tui oil fields and infrastructure.
The participants in Hoki-1 and PEP 38401 are: AWE with 50.00%; OMV New Zealand (21.25%); Todd Petroleum Mining Company with 18.75%; and Petroleum Resources (NZOG) has 10% interests.
