Tag Oil has made a potential oil discovery with the Pukatea-1 exploration well in New Zealand's onshore Taranaki basin.
The well was drilled to a total depth of 3100 metres, and hit hydrocarbon shows across a 160 metre interval in the secondary Mt Messenger interval.
The primary Tikorangi Limestone formation target was not present.
A production test of the Mt Messenger formation is planned to confirm the potential of the zone as a future oil producer.
