Kea Petroleum to abandon Mauku probe

Drill disappointment: Mauku probe fails to deliver for Kea Petroleum

New Zealand-focused explorer Kea Petroleum is to plug and abandon its Mauku 1 well after the Taranaki Basin probe failed to yield any hydrocarbons.

Kea Petroleum chairman Ian Gowrie-Smith admitted that “this is not the drilling result we were looking for”.

However he said that the data garnered would aid future exploration on the licence and the eastern margin of the Taranaki basin generally.

The AIM-listed outfit said the PEP381204 well had reached a total measured depth of 3220 metres on 16 April.

Kea Petroleum said the probe intersected more than 320 metres of the target Mangehewa formation containing more than 140 metres of reservoir-quality sandstone.

However log analysis indicated that the well failed to intersect any hydrocarbon pay.

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