NZOG gets permit extension to potentially massive Barque prospect

Thu, 13 Oct 2016

By Paul McBeth Oct. 14 (BusinessDesk) - New Zealand Oil & Gas has been granted an extension to its Clipper exploration permit for the Barque prospect in the Canterbury Basin, which it says could be bigger than Taranaki's Maui. The Wellington-based company now has until April 10, 2018 to commit to drilling an exploration well, and until June 10, 2020 to drill the well if they go ahead with the plan. NZOG estimates the Barque prospect is equivalent to 530 million barrels of oil, at least twice that of the Maui discovery that's been operati...

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