Located in the Taranaki basin, Petroleum Exploration Permit 52181 is operated by Roc Oil, which holds a 50% stake, with Tag Oil holding 20% and L&M Energy holding 15%. Australia’s AGL acquired its stake as part of its 2010 acquisition of Mosaic Oil.
The permit lies to the east of NZOG’s Kupe gas and oil field and is on trend with the onshore Rimu and Kauri fields, the company said in an announcement.
The
