ASX-listed Melbana Energy Limited, formerly MEO, has reported some promising results from the currently drilling Pukatea-1 exploration well in New Zealand onshore permit PEP-51153.
Melbana reported that the well penetrated the secondary Mt. Messenger objective, which was encountered two metres high to prognosis, recording encouraging oil shows over a 14mMD gross interval.
The company said the significance of these shows will be assessed when the zone is wireline logged (anticipated to occur towards the end of the week once drilling has reached the programmed 244mm casing point).
At the conclusion of logging, casing will be run as per the drill program before continuation of drilling to the Primary target of the Tikorangi Limestone.
“This is an encouraging result for the secondary target of this well,” Melbana Energy’s CEO Robert Zammit said.
“The result increases our confidence in the extent of the Puka field and will be analysed with a view to considering potential restart of production from the Puka field. Drilling will continue towards our primary high impact target, the Tikorangi Limestone, immediately upon completion of the logging of the oil shows in the Mt. Messenger zone.”