CardiffFinally. I have been waiting for this for a long time. For those not familiar with Cardiff, check out page 14 of the company presentation.
https://www.tagoil.com/wp-content/uploads/2016/11/TAG-Institutional-Presentation-4-Nov-2016.pdf
Deep / Eocene Exploration
TAG’s 100% controlled mining permit, PMP 38156, where the Company’s Cheal oil field is located, also contains the large Cardiff structure of the deeper Kapuni Group formations, which is on trend and geologically similar to the large legacy deep gas condensate fields that have been discovered in the Taranaki Basin.
The Cardiff structure, identified on seismic, is an extensive linear fault bound high which is approximately 12 km long and 3 km wide. Cardiff-3, drilled by TAG in FY2014, encountered 230m of gas and condensate bearing sands over three target zones within the Kapuni Group. The deepest zone, the “K3E” is one of the producing intervals of the Kapuni Field, a legacy pool with estimated recoverable reserves of over 1.4 Tcf of gas. The upper two zones which remain untested in the Cardiff well are the main producing intervals in the offsetting deep gas condensate fields including McKee, Mangahewa, and Pohokura.
The Cardiff-3 well was drilled from the Cheal C site, which is connected by pipeline to the Cheal A site processing facilities and provides open access to the New Zealand gas sales network. TAG will attempt to flow Cardiff in the upcoming quarter.