Time running out to drill NZOG's deep-sea Barque prospect

Tue, 31 Jul 2012

By Pattrick Smellie July 31 (BusinessDesk) - New Zealand Oil & Gas has barely a month to find partners to help meet the cost of exploratory drilling in its deep-sea Barque prospect, off the Canterbury coast. While NZOG chief executive Andrew Knight isn't throwing in the towel until all possibilities are exhausted, the company faces a "drill or drop" decision by Aug. 31, with little prospect of being granted an extension, even if it wanted one. "Barque is harder, but we do still have people in prospect," Knight told BusinessDesk. Part of the...

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