Melbana exits NZ

MELBANA Energy is offloading its 30% share of its troubled Pukatea prospect and Puka oil field project in onshore New Zealand to its joint venture partner Tag Oil for A$100,000 so it can concentrate on its large onshore Block 9 project in Cuba and its Beehive prospect, offshore Western Australia.

Melbana exits NZ Melbana exits NZ Melbana exits NZ Melbana exits NZ Melbana exits NZ

Melbourne junior spins off Puka prospect in NZ prefers Cuba and NWS focus 

Pukatea-1's January spud returned Melbana to the ranks to active drillers after a long exploration period, but the Taranaki Basin well in PEP51153it quickly ran into problems.