OXX 5.26% 3.6¢ octanex limited

right on target, page-7

  1. 64 Posts.
    At Matuku the Tikorangi Formation certainly looks to have the potential to be something worthwhile so long as the rock is fractured. One explanation for the lost 5 days could be that maybe they lost circulation while drilling the Tikorangi section and then had a bit of bother or indeed decided to take a closer look. Recall how the Waihapa 1-B discovery well for the Waihapa Field was only made some years after the original P&A. This by reentry [prompted by study of the well logs; as I recall, the original well had large circulation loss in the Tikorangi] and testing of the Tikorangi Formation. After perforation of the casing the well flowed at over 5000 bopd. Here at Matuku there is a history of compressive thrusting from the east so on the face of it there may be reasonable likelihood that the limestone is fractured:

    http://www.sciencelearn.org.nz/Contexts/A-Fizzy-Rock/Sci-Media/Images/Core-sample-from-the-Tikorangi-limestone
 
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