Todd Petroleum Mining Co Ltd. is offering a farm-in opportunity in exploration permit PEP 60094, located in the Taranaki Basin.Â  Todd reported that equity is available in the permit, in which it holds 100% operated interest and is looking for a partner to participate in future work commitments.  Todd reports that a number of various prospects have been identified with potential conventional structural and stratigraphic targets.Â  Todd outlines the Victor prospect as a potential first target.Â  The prospective reservoir at Victor is within turbidite sands of the Miocene Moki Formation, with a possible Kauri Sandstone secondary target.Â  It is a rollover anticline with three-way dip closure, with the Miocene Manganui Formation shales forming the seal and hydrocarbon charge from the Cretaceous Rakopi coals.Â  A potential 111 MMb oil resource is present within the Moki target.  PEP 60094 is close to the producing Kupe, Rimu, Kauri and Manutahi fields. The Tahi 1 well, drilled in February 1984, lies within the permit boundary.Â  The well was plugged and abandoned after encountering oil and gas shows.  The permit was awarded in December 2015, with the first term commencing on 1 April 2016.Â  Following the completion of the first stage of work commitments which included the reprocessing of 550 km of 2D seismic data and various technical studies, the operator is required to acquire 770 km of new 2D seismic or 40 sq. km of new 3D seismic data before 1 April 2019 at which point a drill or drop decision is required. The first well under the current work commitments is scheduled between April 2021 and end March 2022, however Todd has two drill or drop decisions prior to this.  PEP 60094, which covers an area of 2,153 sq km, was awarded on 16 December 2015 after being applied for in the 2015 Blocks Offer. Todd Petroleum Mining Co Ltd. holds 100% operated interest in the permit.  Interested parties should contact:  Tim Carter - Todd EnergyÂ Â Â Â Â      Email: tcarter@toddenergy.co.nz    Ian Brewer - Todd EnergyÂ Â Â Â Â      Email: ibrewer@toddenergy.co.nz  Tel: 0064 27 5345 548
Todd Petroleum Mining Co Ltd. is offering a farm-in opportunity in exploration permit PEP 60094, located in the Taranaki Basin.  Todd reported that equity is available in the permit, in which it holds 100% operated interest and is looking for a partner to participate in future work commitments. Todd reports that a number of various prospects have been identified with potential conventional structural and stratigraphic targets. 