NZOG shares jump on gas indications at Kohatukai-1

Thu, 25 Oct 2018

By Rebecca Howard Oct. 26 (BusinessDesk) - New Zealand Oil & Gas shares rose 6.9 percent after it reported gas indications at the Kohatukai-1 onshore exploration well south-east of New Plymouth. NZOG and its partners started drilling in September to test the Matapo and Mangahewa sands that deliver gas in the Pohokura, Turangi and Mangahewa fields north-east of the city. The well has intersected the secondary objective Matapo Sandstone at a depth of 3,602 metres and "elevated mud gas readings indicating the presence of gas were observ...

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