On September 29, 2024, New Zealand Energy Corp. (TSXV: NZ) provided an operational update regarding the Tariki-5 gas development well located in New Plymouth, New Zealand. The Tariki Joint Venture, consisting of NZEC Tariki Limited (50%) and L&M Energy Limited (50%), reported that drilling operations for the Tariki-5 well began on September 30, 2024. The well is expected to reach a total depth of 2846 m AHRT and key sections will be drilled between October 12-14 and October 16-21, 2024.
The timeline for completion of well drilling operations, including drilling and completion, is estimated to be October 26, 2024. Well perforation, clean-up flow, and tie-in of the well to production are expected to be finished by November 14, 2024. All necessary contractual arrangements for gas transportation and delivery to Genesis Energy have already been finalized.
This release contains forward-looking information regarding the Company’s business, the Tariki Joint Venture, gas sales agreement, and the Tariki-5 well. Although NZEC has made assumptions based on available information and believes them to be reasonable, there are inherent risks and uncertainties that could cause actual results to differ from the forward-looking information provided. Readers are advised to refer to NZEC’s disclosure documents for a comprehensive list of risk factors.
The information provided in this news release is current as of the release date and is subject to change. NZEC disclaims any obligation to update or revise forward-looking information unless required by applicable securities law. For more information, please visit the original source version of this press release.
