Offshore Taranaki: PEP 53374 – Opunake Todd’s 100% held PEP 53374 offers substantial equity at an early stage of the exploration cycle. 5 identified prospects/leads provide material exploration running room. • Vulcan: Considered the prime prospect. Lies ~15 km from Taranaki’s largest field and on trend with similar structures identified immediately north of Maui. Prospect constitutes Miocene deep marine fan sands cut by submarine channel complexes. Closure formed by shale filled channels and faults. P50 resource ca. 50MMboe. • Opunake North: Structural closure of Palaeogene sandstones associated with fault terrace of Cape Egmont Fault Zone (CEFZ); • Opunake: Tilted fault blocks on the down thrown side of the Cape Egmont Fault, on trend with Ruru and Komutu structures in Maui field license; • Witiora North: Cretaceous-Palaeocene Basement drape in the north of the permit; • Maui Northeast: A large Kapuni Gp structural-stratigraphic feature with strong amplitude support. On trend with main Kapuni Gp reservoirs that constitute the Maui A and Maui B structures. Prospect – Vulcan Vulcan Prospect Trap: Faulted and channelled dip closure on footwall of CEFZ, wholly within PEP 53374. Reservoir: Miocene Moki A deep marine sandstones. Seal: Miocene marine shale/claystone filled channels and fault-seal against CEFZ. The combination of thick shales between sands and multiple channel systems in the Moki A supports both cross –fault and stratigraphic seal. Charge: Direct access to East Maui kitchen (Upper Cretaceous coastal plain coals) via the adjacent Pliocene extensional fault system. Also thought to be a hydrocarbon conduit to the Maui Field. Fluid Type: Uncertain - the adjacent Maui Field has produced both oil and gas prolifically over the last 33 years. There are gas shows and fluorescence in the Moki A in multiple wells at Maui and gas was recovered at Maui South-1 from the Moki A interval. AVO: AVO analysis and comparison with Shell’s Punehu prospect in the Maui Petroleum Mining Licence (PML) area suggest gas and oil at Vulcan in two separate sands. Insights: • Lithology appears to be the dominant control on seismic amplitude, however AVO analysis suggest that hydrocarbon effects can be distinguished, and indicate the presence of oil at Vulcan rather than gas, in the upper sand. • Good correlation is observed between sands and the density log at Maui-5 and at the Top Moki A strong amplitude anomalies are observed . No comparable response seen in the Maui PML. • Shwe Field (~7.7Tcf) in the Bay of Bengal exhibits similar trapping mechanisms and amplitude response Prospect – Vulcan Offshore Taranaki: PEP 53374 – Opunake Geo-Technical: • Todd has reprocessed the 2005 Opunake 3D to PSDM and merged it with the Maui 3D to provide extensive 3D coverage over the southern part of the permit. • 1000 km of 2D seismic data has been reprocessed to mature Witiora North and study the regional stratigraphic framework. • Palinspastic reconstruction project completed along the CEFZ to assist in delineating prospectivity in the area. Work Programme: • The permit work programme requires 200 km² 3D seismic to be acquired by March 2015 followed by a drill decision in March 2016 and drilling by March 2017. Farm-In: • Todd seeking farminee to participate in ongoing maturation of the permit which may lead to exploration drilling. Significant equity offered for promote on 3D seismic. Other Prospectivity Witiora North Witiora North is a lead involving onlap and drape of base Palaeocene sands onto basement. Weak shows were observed at Witiora-1 Maui NE Maui NE exhibits a strong amplitude response at the Kapuni “C” and “D” sand levels, equivalent to producing reservoirs at Maui For further information contact: Mark Blood, Exploration Manager Todd Energy, The Todd Building, 95 Customhouse Quay, Wellington, New Zealand Mobile +64 212070607 [email protected] Other Prospectivity Opunake Opunake structural lead comprised of fault terraces and Pliocene tilted fault blocks – on trend with similar structures in Maui PML toddenergy.co.nz
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