An exploration well in the Pukatea prospect has been approved for the second half of next year, Melbana Energy says.
The Melbourne-based firm says the planned well is low-cost and its proximity to production infrastructure makes it “commercially robust”. The work will be carried out in the Puka permit by operator TAG Oil.
Melbana chief executive Peter Stickland says the structure is “very exciting near term exploration drilling opportunity”.
If successful, Pukatea-1 would be “transformative” for the firm, he says.