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TAG Oil Ltd.
1050 Burrard Street Suite 1407 Vancouver, B.C. Canada V6Z 2S3 TECHNICAL HEADQUARTERS 4 Chamberlain Road Karori Wellington |
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EXPLORING IN NEW ZEALAND
 Most of the exploration attention has been focused around the Taranaki Basin where fewer than 500 exploration wells have been drilled. The rest of New Zealand's sedimentary basins are virtually unexplored. Many of the basins exhibit oil seeps, however, and exploration data reveal many structures with hydrocarbon potential. An onshore gas discovery was made in the East Coast Basin in 1998, while sub-commercial discoveries have also been made in the offshore Canterbury and Great South basins. For exploration updates, publications and the latest news regarding New Zealand oil and gas exploration, you can access the Crown Minerals website. To review a summary of New Zealand's gas demand, click here. Taranaki Basin, North Island The Taranaki Basin is located on the west coast of New Zealand's North Island. In comparison to other rift complexes of its size (100,000 sq km) and potential, the Taranaki Basin is lightly explored. Only one exploration well per 72,000 acres has been drilled in the basin to date, with good success rates. To date, there have been approximately 500 million barrels of oil and 7 trillion cubic feet of gas discovered in Taranaki, with fewer than 500 exploration wells. View Taranaki Basin Discoveries. |
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