40% Interest: 77,039 Acres
PEP 52181 is located in the Taranaki Basin just 8 km from shore. This close proximity to existing infrastructure makes commercialization of discoveries efficient and cost effective. The Permit is operated by a subsidiary of Australian-based Roc Oil Limited, which holds a 50% interest in the joint venture.
PEP 52181, which contains the Kaheru Offshore JV prospect and numerous other leads, has extensive 2-D and 3-D seismic coverage, and has been identified to have substantial exploration potential with a good chance for success. The Kaheru Offshore JV structure is a Miocene-aged prospect on the same successful thrust belt play fairway as many Taranaki oil and gas fields, including: Rimu, Kauri, Manutahi immediately north, and the Tariki, Ahuroa, Waihapa and Ngaere ("TAWN") fields further north. Immediately to the west, the large Kupe Gas-Condensate field is now also in full production.