This interest was acquired from the receivers and liquidators of the previous operator of PMP 38156-D and its joint-venture partner.
The Cardiff structure has been identified as a large anticlinal trap, some 12km long by 3km wide, with a number of potential pay zones within the Kapuni Sands Formation.
The Cardiff gas/condensate discovery has the potential to become a substantial onshore resource, situated on trend and among several sizable deep gas/condensate discoveries in the Taranaki Basin, including the nearby landmark Kapuni Field and the prolific Mangahewa and Pohokura gas fields, Tag said.
The company plans to recommence development of Cardiff targeting the various gas/condensate zones with advancing horizontal-drilling and multi-stage fracturing technologies developed specifically for these types of tight-sand gas reservoirs.
Permit PMP 38156-D resides within the same permit boundary as Tag’s Petroleum Mining Permit 38156-S, where the company is currently producing oil and gas and developing discoveries in shallower formations.
