New Zealand Oil & Gas Limited (NZEOF) has released an update.
New Zealand Oil & Gas Limited, in partnership with Triangle Energy and Strike Energy, is set to begin drilling the Booth-1 well in the Perth Basin’s L7 permit in late June 2024. The well targets the Kingia-High Cliff reservoirs and has a prospective resource estimate ranging from 113 to 540 billion cubic feet of gas. The operation marks the first exploration based on 3D seismic data acquired in 2022, with New Zealand Oil & Gas shouldering a net cost of A$4.55 million for the operation.
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