Todd Petroleum Mining Co Ltd. is offering a farm-in opportunity in exploration permit PEP 57080, located in the offshore Taranaki Basin. Todd holds 50% operated interest in the permit and is looking for a farm-in partner to assist in funding the Stage 2 work commitments, due by 1 April 2020, in return for equity.  Under the renegotiated terms of the work commitments assigned to the permit which were approved on 12 October 2018, the commitments for Stage 2 includes the requirement to purchase 250 km of available multi-client 2D seismic data, the reprocessing of a minimum of 75 km of 2D seismic data for AVO, a fault seal study for prospects within the Nimitz 3D data, as well as completing charge and flow path modelling for leads within the Nimitz 3D data, a lead prospectivity study, a structural reconstruction study, and to test post-processing techniques on full and angle stack volumes of the Nimitz 3D as secondary deliverables. Should the operator commit to all future drill or drop decisions, the first well would be due by 1 April 2021.  The primary plays in the permit are fault bounded Eocene Tangaroa Formation sands. One of the leads is the Kokako structure, a three-way dip closed target, with potential hydrocarbons within Tangaroa Formation fan sands.Â  The Korimako North structure, a three-way dip closed and fault bounded structure, is also prospective at the Tangaroa Formation level. Both prospects have thrust closures of around 120 m. Deepwater leads within D1 and D2 Eocene level slumps are estimated to contain P50 oil originally in-place of 650 MMb and 495 MMb respectively.  PEP 57080 covers an area of 2,446 sq km and was awarded on 1 April 2015 after being applied for in the Block Offer 2014.Â  Participants in the permit are Todd Exploration Management Services Ltd (50% + operatorship) and Beach Petroleum (NZ) Pty Ltd (50%).  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.nzÂ Â Â Â Â Â  Â Â Â Â Â Â Â Â Â Â Â      Tel: 0064 27 5345 548
Todd Petroleum Mining Co Ltd. is offering a farm-in opportunity in exploration permit PEP 57080, located in the offshore Taranaki Basin. Todd holds 50% operated interest in the permit and is looking for a farm-in partner to assist in funding the Stage 2 work commitments,