makutu

Have a look at this link.

http://www.stuff.co.nz/taranaki-daily-news/news/7805825/Drill-baby-drill-all-over-region

Talk of the Matuku prospect and OMV.

Of course OXX has a 35% interest in this permit PEP 51906 and is free carried through one drill in the permit presumably Matuku (if OMV commits to drill)with an estimated mean recoverable resource of 65 mmbls if hydrocarbons are present.
OMV has to 19th Nov to make a committment or re-assign the permit.

I am sure that Geoff will give them an extentsion if required. Chances are that providing that OMV can get a slot with one of the rigs comming to NZ this summer then this drill will go ahead in the first half of 2103.

So as the days tick by we are getting closer to:

Palta 1 Spudding any day, 1% OOR, no cost to OXX. Definite
Winchester 1Q 2013, 25% free carried. Definite.
Matuku 1H 2013, 35% free carried, most probable.

If any one of these drills were to be successful it would be a "company maker" for OXX. See my recent post for the valuation that I have put on these drills.
Is it to early for a beer!