Great South Basin (PEP 50117)

In July 2007 Todd Energy (10%) and ExxonMobil (90%) were awarded exploration permit PEP 50117 in the Great South Basin. This award represents an exciting new venture for Todd Energy, in association with the world's largest and most successful oil company. The committed work programme for the first 27 months of the permit term includes acquisition and interpretation of 1250 km2 of 3D seismic data and a minimum 800 km of 2D seismic, together with reprocessing of existing seismic data and geological studies. Seismic acquisition was undertaken during the summer of 2007/8.

Go to Todd Energy news to view Great South Basin press release.

Onshore-Nearshore Western Taranaki Peninsula (PEP 51149)

In September 2008 Todd Energy (70%) and Mighty River Power (30%) were awarded exploration permit PEP 51149, covering 653.8 km2 of the western Taranaki Peninsula from the western boundary of Egmont National Park to the coastal fringe beyond Cape Egmont. The committed work programme for the first 24 months of the permit term includes acquisition and interpretation of 60 km of 2D seismic data, together with reprocessing of existing 2D and 3D seismic datasets. Seismic reprocessing and acquisition programmes have commenced, and processing should be completed by the fourth quarter of 2009. An additional joint venture partner is currently being sought to share in the exploration programme in this permit.

Go to Todd Energy news to view Taranaki Onshore Permit Round press release.

Onshore Taranaki (PEP 51156)

In September 2008 Todd Energy (100%) was awarded exploration permit PEP 51156, covering 90.4 km2 immediately southwest of the Mangahewa Field. The committed work programme for the first 15 months of the permit term includes reprocessing of multiple 3D seismic surveys and drilling of one exploration well. The seismic reprocessing programme has commenced, and drilling of the well is planned for the fourth quarter of 2009.

Go to Todd Energy news to view Taranaki Onshore Permit Round press release.

Offshore Northern Taranaki (PEP 38602)

In April 2006 Todd Energy completed acquisition of a 90 km2 3D seismic survey in PEP 38602 over the Karewa gas discovery. Detailed interpretation of the seismic and well data, in combination with evaluation of appropriate development technologies, has led to the submission of an application for a Petroleum Mining Permit (PMP 38162) over Karewa, covering the previous PEP 38602 area.

Offshore Southern Taranaki (PEP 38494)

Exploration in the first permit term has included acquisition in January 2006 of 815 km of new 2D seismic data covering several prospects and leads, together with reprocessing or purchase of 7390 km of existing multi-vintage seismic data to create this region's first comprehensive digital seismic database. In conjunction with the seismic programme, geological studies have been undertaken to assess hydrocarbon generation and trapping, and to better understand geological risk factors in this frontier region. Interpretation and evaluation of the new data has resulted in the identification of the 'Tasman Ridge' as the region of greatest prospectivity, and as a result the permit area has been contracted to 819.5 km2, covering the 'Matariki Prospect' and other prospects and leads.