The development drilling and optimization work is expected to provide TAG with considerable potential to increase its high netback oil production.
Taranaki drilling campaign has commenced with the Cheal-E-JV-6 well (TAG 70%), and the Cheal-E7 well (TAG 100%).
Following completion of the Cheal-E site wells drilling, TGA will move the Nova-1 drill rig to its 100%-controlled Sidewinder oil and gas field to drill step-out wells, which target the oil potential identified from oil shows encountered in the six Sidewinder gas wells.
Meanwhile, TGA also discovered oil-and-gas-bearing tight sands at Cardiff-3 well located in the Taranaki Basin.
The well was drilled to a total depth of 4,853m and the oil-and-gas-bearing tight sands were discovered across three separate potential pay zones in the well.
TAG aims to pursue significant reserve growth by developing and exploiting its lightly explored discovery acreage in the shallow and high impact deep formations.
