As per ASX announcement 20/5/2013 dot points for NZ:
The PEP 51906 Joint Venture has made a formal commitment to drill the Matuku-1 well in the offshore Taranaki Basin
Octanex will be free carried by OMV through all of the Matuku-1 drilling operations
The well is currently programmed to spud in late Q3 2013 and will be drilled by the Kan Tan IV semi-submersible drilling rig
An additional rig slot has been secured to drill a Matuku appraisal well, in the event of success at Matuku-1
Octanex will be free carried by NZOG through any Matuku appraisal drilling.
In a success case, OMV has estimated the mean recoverable resource for the Matuku prospect as approximately 65 million barrels.
Further attractive targets have been identified in the permit
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