B

Brent reference price

the reference against which two-thirds of the world’s internationally traded crude oil supplies are priced.

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C

Conventional (reservoir)

a reservoir in which buoyant forces keep hydrocarbons in place below a sealing caprock. Reservoir and fluid characteristics of conventional reservoirs typically permit oil or natural gas to flow readily into wellbores.

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G

Gas condensate or condensate

a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. It condenses out of the raw gas if the temperature is reduced to below the hydrocarbon dew point temperature of the raw gas.

Giant

an oil or gas field that contains reserves in excess of 500 MMBOE.

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K

Kapuni Group

the Paleocene–Eocene age sedimentary rocks that form highly productive reservoirs in the Maui and Kapuni fields, in the Taranaki Basin, New Zealand.

Karekare Formation

the Upper Cretaceous age sedimentary rocks that underlie the Whangai Formation rocks in the northern part of the East Coast Basin, New Zealand.

Kiore Formation

the Late Miocene-age sediments consisting of siltstones, sandy siltstones, and sandstones of the Taranaki Basin, New Zealand.

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M

Moki Formation

the Mid-Miocene sand-rich turbidite complex in the Taranaki Basin, New Zealand. The Moki Formation is a proven hydrocarbon reservoir with its stacked, thick, tabular sandstone packages totalling more than 300 metres in places.

Mt. Messenger Formation

the sand-rich turbidite complex in the Taranaki Basin, New Zealand. The Mt. Messenger Formation is a proven hydrocarbon reservoir and can be up to 1,500 metres thick in places.

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N

Natural gas seep

a place where gaseous hydrocarbons escape to the earth’s atmosphere and surface, normally under low pressure or flow.

NI 51-101

National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators.

Non-specification natural gas

natural gas that does not meet the specifications for delivery into a pipeline. Pipeline operators will specify maximum allowable percentages of moisture (water vapour), liquid hydrocarbon, carbon dioxide, nitrogen or other non-methane constituents.

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O

Oil seep

a place where liquid hydrocarbons escape to the Earth's atmosphere and surface, normally under low pressure or flow. Seeps generally occur above either terrestrial or offshore petroleum accumulation structures.

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P

P10 extent

having a 10% probability of a geological formation occurring in the area described. This is not a reference to a resource or reserve.

P50 extent

having a 50% probability of a geological formation occurring in the area described. This is not a reference to a resource or reserve.

P50 reserves

reserves that are estimated to have at least a 50% probability that the quantities actually recovered will equal or exceed the estimate. Sometimes referred to as probable reserves.

PEP

Petroleum exploration permit granted by the Crown of New Zealand.

PMP

a petroleum mining permit granted by the Crown of New Zealand to enable the development of a petroleum field with the purpose of extracting and producing petroleum.

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S

Shallow water (drilling)

the process of oil and natural gas exploration and production in less than 500 feet of water.

Shows (oil and natural gas)

indications of hydrocarbons in the cuttings obtained during well drilling.

Specification natural gas

natural gas that meets the specifications for delivery into a pipeline. Pipeline operators will specify maximum allowable percentages of moisture (water vapour), liquid hydrocarbon, carbon dioxide, nitrogen or other non-methane constituents.

Stock tank barrel or stb

one barrel of stabilized or dead oil at the surface of the Earth after the gas has escaped.

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T

Total organic carbon (TOC)

the amount of carbon bound in organic material.

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U

Unconventional (reservoir)

unconventional resources that cannot be produced with a vertical and/or an unstimulated well. A horizontal well and/or some sort of intervention to increase hydrocarbon mobility is required. Mobility depends on the permeability of the rock and the viscosity of the hydrocarbon.

Urenui Formation

a sand-rich turbidite complex, of Late Miocene age located in the Taranaki Basin, New Zealand. The Urenui Formation can be up to 850 metres thick.

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W

Waipawa Formation

a fractured, poorly bedded, organic-rich siltstone of Paleocene age, deposited in an anoxic, limited circulation, marine environment. Sampling indicates average total organic carbon (TOC) values of 5% to 12%. Thicknesses can be up to 70 metres. The Waipawa Formation has been geochemically linked to many onshore oil and natural gas seeps.

Waxy crude

an oil that usually consists of a variety of light and intermediate hydrocarbons and wax that consists of paraffin.

Whangai Formation

a poorly bedded, organic rich siliceous or slightly calcareous mudstone of Late Cretaceous age located in the East Coast Basin, New Zealand. The formation can be up to 600 metres thick. Total organic carbon ranges from 0.8 to 1.7%. The Whangai Formation has been geochemically linked to many onshore oil and natural gas seeps.

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