Apache, Tag To Start Oil Exploration Of New Zealand East Coast-Report
04 Settembre 2011 - 11:40PM
Dow Jones News
Apache Corp. (APA) along with Tag Oil Ltd. (TAO.T) are set to
look for oil in the East Coast Basin off the eastern coast of New
Zealand, Fairfax-owned website Stuff reported Monday citing Tag
Oil.
The website reports Tag Oil said seismic testing by the oil and
gas firms was due to start this month with the first drilling
expected early next year.
Tag Oil is reported to have added that it entered into a deal
with Apache to explore and potentially develop oil and natural gas
on the East Coast with Apache spending US$100 million to gain a 50%
stake in Tag's exploration prospects in the basin.
Newspaper website: http://www.stuff.co.nz
-Wellington Bureau, Dow Jones Newswires; 64-4-471-5990;
djnews.wellington@dowjones.com
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