The block, known as East Cape, covers about 4242 square kilometres in the Raukumara region of the East Coast basin, which is understood to hold significant resource potential in the conventional Miocence sands and the unconventional oil shale formations, Waipawa and Whangai.
As a result of the acquisition, New Zealand Energy now controls four permits in the East Coast basin, covering a total of 8242 square kilometres.
It
