I think eventually there will be rigs all along barely explored...

I think eventually there will be rigs all along barely explored offshore canterbury coastline-some massive structures deepwater-but mega expensive to drill. Source rocks are the same as in Taranaki basin creataceous coal measures(source rocks of Taranaki basin)
Kate has the presence of thermogenic high quality seeps around the perimeter of the anticline which support an oil migration onshore theory, a huge classic trapping structure, and will cost very very little to drill.


"New Zealand has a century-old history of oil exploration, although the modern era of exploration is barely 30 years old. The exploration industry has built up a good local understanding of where to find hydrocarbons with evolving knowledge of sedimentary basins and their petroleum
systems, and a high success level in finding hydrocarbons. The important geological elements and the timing of generation, migration and accumulation of hydrocarbons are now broadly understood, enabling a more methodical approach to identification and appraisal of prospects. Ongoing exploration will certainly lead to further commercial discoveries.

"Most of New Zealand's basins have very good potential for the discovery of petroleum but are best classified as 'under-explored'. Even in Taranaki Basin, the most commercially successful hydrocarbon province, exploration continues to turn up surprises in terms of new plays, many of which have already become productive. Further, New Zealand has now been ranked by the IHS Energy Group as the 14th most attractive country in the world for petroleum exploration investment.

Exploration activity in New Zealand is at the highest level for many years, with 30 permits taken out in 2002. New onshore oil and gas discoveries late in the year provided proof that further reserves are there awaiting discovery. I am sure many more pleasant surprises are awaiting explorers as more of the secrets of the country's large acreage are uncovered.

In this respect, the current permitting round in CANTERBURY BASIN provides an opportunity to explore in an environment where two of the four offshore wells sunk to date have discovered hydrocarbons, one flowing 10 MMscfd gas and 2300 bopd condensate. "