NZ Oil and Gas cedes promising Kakapo permit after failing to attract farm-in partner

Wed, 24 Jul 2013

July 25 (BusinessDesk) – New Zealand Oil & Gas, the nation’s biggest listed energy explorer, has ceded its Kakapo permit off the South Taranaki after failing to find a partner to share costs of a prospect it says could be several times bigger than the Tui or Maari fields. NZOG won exploration permit PEP 51311, which lies to the west and south of the Kupe field, in early 2009 and has said recoverable resources, un-risked, may be in excess of 200 million barrels of oil. The decision to relinquish the permit comes after ASX-listed Peak Oil & Gas...

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