TAG Oil has confirmed the Sidewinder-4 exploration well in New Zealand Petroleum Exploration Permit 38748 as a light oil and gas discovery. This discovery is the fifth exploration success for TAG Oil in the Taranaki Basin.
The Sidewinder-4 well results have expanded the targeted Mt. Messenger structure sandstones extensively to the eastern section of the Sidewinder-1 discovery well. The third discovery well proposed that the Mt. Messenger structure sandstones have extended considerably to the south of the first Sidewinder well.
Now, the inferred total hydrocarbon column goes beyond 60 meters in width at Sidewinder without the presence of a water column. The so far drilled four Sidewinder wells have showed that the size and capacity of the discovery region is greater than the original. Moreover, the whole permit is superficially explored and it is likely that additional oil and gas will be discovered along with several drilling prospects.
The well Four is deviated to a place down-dip of Sidewinder-3 and has targeted a fault-enclosed three-dimensional anomaly that cut 95 feet sandstone reservoir. The entire depth of Sidewinder-4 is 4,626 feet having 62 feet of total oil-and-gas-charged sandstones with electric logs that shows hydrocarbon charge to the sandstone base. While drilling the target zone, free oil was detected over the shakers. The oil-and-gas-charged sandstones found in Sidewinder-4 have exceptional permeability and porosity, when compared to the Sidewinder wells drilled so far.
Currently, TAG will begin the testing of flow in well-2, well-3 and well-4. It is expected that the construction of Sidewinder Production Station will be completed by the mid of the year 2011 and all wells will be set for production.
Source: http://www.tagoil.com/