TSX-V: NZ     C$ 0.17 -0.02 -8.33% Volume: 239,300 April 23, 2014
New Zealand Energy Corp. also trades on the OTCQX International under symbol NZERF
Operations
Operations

East Coast Basin

East Coast Basin

An unexplored region of vast resource potential, the basin's key attraction are enormous shale beds up to 600 metres thick, with 300 surface showings of oil and natural gas.
Permits: East Cape, Castlepoint, Wairoa
1,813,741
acres
2
oil shale formations
107,800,000
barrels conventional
        prospective resource
 1          
456,200,000
barrels unconventional
prospective resource 1

 1,202,000,000
barrels undiscovered
conventional PIIP 2
 19,891,100,000
barrels undiscovered
unconventional PIIP 2
         
  1. Net prospective resource as identified by Deloitte LLP (best estimate), assuming 9% recovery for conventional resources and 2% recovery for unconventional resources. Does not include estimates for the Wairoa Permit, which is under review.
  2. Net undiscovered petroleum initially in place (PIIP) as identified by Deloitte LLP. Does not include estimates for the Wairoa Permit, which is under review.

Quick download - East Coast Basin fact sheet

The North Island’s East Coast Basin is an almost completely unexplored region with significant resource potential in sand and shale targets. With 300 known oil or natural gas seeps, the region has intrigued explorers for more than a century. Of the 50 wells drilled to date in the basin, all have focused on the conventional miocene sands. NZEC hopes to be one of the first companies to drill an exploration well into the oil shales, with plans to drill two wells by year-end 2013.

NZEC is among a small number of early entrants to the East Coast Basin and controls three onshore permits totaling more than 1.8 million acres, with a 100% working interest in the East Cape, and Castlepoint permits and an 80% working interest in the Wairoa permit. NZEC has drilled three stratigraphic wells in the East Coast Basin and collected 70km of 2D seismic data. NZEC is actively looking for a partner to fund additional exploration, and hopes to drill at least one exploration well in 2014. 

About 50 wells have been drilled in the East Coast Basin over the decades and many logged oil or gas, but none yielded a commercial discovery. Previous exploratory drilling targeted structural highs, a traditional approach in conventional oil and natural gas exploration. Exploration activity in the region is accelerating. Current exploration is targeting a mix of stratigraphic/structural traps in the conventional reservoirs, using modern seismic to identify the target, and unconventional opportunities in shale formations that are believed to be the source rocks for the basin’s entire hydrocarbon system.

About New Zealand Energy Corp.

NZEC is a publicly-traded company (TSX-V:NZ, OTCQX:NZERF) focused on the production and exploration of oil and natural gas prospects in New Zealand.

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Last Updated: 0.17 -0.02 -8.33% Volume: 239,300 April 23, 2014