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Joint Venture partner New Zealand Oil & Gas today said Pateke-2, located about 50m from Pateke-1, was now over 217m down towards the Eocene-aged Kapuni F sands target. The F sands target is scheduled to be encountered at approximately 3700m in about 13 days.
The PEP 38460 partners, headed by operator and Transworld Oil subsidiary New Zealand Overseas Petroleum, abandoned Pateke-1 late last week because the 9¨ý¡± casing had buckled, due to settling of the 30¡± conductor.
Following Pateke-2 the JV plans to drill Kiwi-1, four kilometers southwest of the Amokura oil field.
