The Taranaki-focused oil explorer New Zealand Energy has announced its fifth oil discovery.
The company, listed on the Toronto Stock Exchange, said the onshore Waitapu-2 well had hit oil in the Mt Messenger Formation in the Taranaki Basin, and it was flowing at 325 barrels of oil and 800,000 cubic feet of natural gas a day. While the oil was currently being trucked to the Shell-operated Omata Tank Farm, 45 kilometres to the north, the company planned to shut in the well soon to test pressure buildup.
That would help it determine whether to lay a new pipeline to connect to the Waihapa Production Station.
The company said it planned to drill another four wells with a view to raising its production to 3000 barrels of oil-equivalent by the end of the first quarter of 2013.
- © Fairfax NZ News
The rising young stars of equestrian provided the highlight in the Series Final Show at Hawera at the weekend.
Womad may not be such a big money spinner for other parts of the hospitality industry.
Taranaki turned on the heat on anniversary day yesterday and folks were out in force soaking up the sun at New Plymouth's parks and beaches.
Meika Watson-Burrows always dreamed of entering Miss Taranaki so this year she did and she came out the winner.
South Taranaki's first family of gelato are changing gear.
What do you think of the proposed alcohol policy?Related story: Push to close bars at 2am
Get your mid week news fix
Get your South Taranaki news online
with Rachel Stewart
with Gordon Brown
Matt Rilkoff's perspective of contemporary life
With Kathryn Calvert
The self-confessed bard of Brixton, offers views on life, politics and Akubra hats.
with Glenn McLean