In addition to the farm out relating to PEP 38262, Anadarko has an option to acquire a 50% interest in the adjoining permit PEP 38264 for a consideration of $100,000. The Carrack/Caravel prospect is a structural closure with twin crests that covers an area of some 390sqkm. This aerial extent is greater than that of New Zealand’s gas field Maui in the Taranaki basin, which covers around 160sqkm.
Seismic data over the structure is characterized by the presence of amplitude anomalies that conform to structure at the level of inferred Cretaceous reservoirs. More localised anomalous seismic responses are also observed in the overlying Tertiary sequence, which are interpretable as gas-charged reservoirs shallower in the section.
The nearest well to the prospect is Galleon–1, drilled by BP in 1985 and located some 30km to the northwest, which flowed gas at 10.6 million cubic feet per day and associated condensate at 2,240 barrels per day on test of Cretaceous sandstone reservoirs.
Subject to ministerial approval and subsequent registration of documentation, and the exercise of the option to progress to farmin to PEP 38264, permit interests for both PEP 38262 and PEP 38264 will be: Anadarko New Zealand (operator) 50% and Origin Energy Resources NZ 50%.
