The studies undertaken by OMV indicate that the Matuku prospect is robust. It has a perceived low risk associated with the existence of the structure, presence of suitable reservoir rock and adequacy of seal. OMV’s basin modelling studies suggest the presence of a substantial source kitchen within the Kahurangi Trough (to the immediate west of the prospect) that is mature for the generation of oil.
OXX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held