New Zealand Oil & Gas Limited notes the by Triangle the Operator of the L7 permit). The Ventia 106 rig has been released from its previous operations and
is mobilising to the Booth well location. The Booth 1 well is expected to commence drilling in
the week of the 23rd of July.
NZO is excited to be drilling in the prolific Perth Basin with this exploration well that looks to extend the
gas play fairway further North. The well is expected to drill for up to 3 weeks to reach a measured along
hole depth of ca. 2900 m which equates to ca. 2440 m vertically. It is designed to test the Kingia
formation -the primary target- productive in adjacent blocks; as well as targeting several other
potentially productive intervals along the trajectory.
“I'm stoked to be spinning the bit again," says Chief Executive Andrew Jefferies. "We farmed into this
acreage back in 2022 with new 3D seismic and a raft of recent discoveries next door. This is an exciting
area: It’s onshore, with plenty of local activity which helps keep costs and lead times down; there’s
infrastructure in place and being built that can quickly connect us into a Western Australian market
that needs gas. The prospects have been matured, all the elements required to drill are ready, so now
it's time to see what's down there.
"We all need gas: gas for cooking western tiger prawns; gas to displace coal; quick start gas for backing
up intermittent renewables; and gas for processing the ores, that make the metals, that build the
machines, that will transition our world.
Gas is the next echelon for reliable energy – it really is a three-letter word for transition”,
The Permit joint venture comprises Triangle (ASX: TEG: 50% and Operator); NZO (25%) and Strike
Energy Ltd (ASX: STX: 25%).