Cue Energy Resources Ltd has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that at 08:10 hours (local time) on Monday 25th August 2014, that the Whio-1 well has reached a total depth of 2,824m MDRT (2,683m TVDRT) in the Paleocene Farewell Formation.
Since the previous report, the 12.25” open hole wireline logging has been completed and plans for abandonment are underway. Cue has been advised by the Operator that the well encountered sandstones in all objectives (Whio A Sandstone, M2A Sandstone, Moki Formation, Mangahewa Formation, Kaimiro Formation, and Farewell Formation) as expected, but could not confirm the presence of commercial hydrocarbons.
Whio-1 is being drilled from the semi-submersible drilling rig ‘Kan Tan IV’ at a surface location 110 km south-west of New Plymouth, Taranaki, New Zealand and 4.5 km south-east of the Maari well-head platform. Cue is free-carried by OMV in the drilling and completion of Whio-1 under the terms of a farm out agreement signed in December 2012.
