Nicks Head East, Coast Basin Petroleum Exploration Permit 50940

East Coast Basin 100% Interest: 67,880 acres
PEP 50940 is located in the northern, oil-prone area of the East Coast Basin where local oil and gas seeps confirm a working hydrocarbon system. The sparsely explored area has potential for both large conventional Miocene prospects and widespread unconventional tight oil opportunities in the rich Waipawa Formation and the 300-500m thick Whangai Formation.

 

Expanding Our Reach North
This new permit is highly complimentary to the existing leads and unconventional tight oil opportunities identified in TAG's adjoining Waitangi Hill permit (PEP 38348). Our field and subsurface work in PEP 38348 indicates that potentially large prospects extend into this new area.