Kea Petroleum is heading back to the drawing board after posting disappointing results from its Puka-3 well.
The New Zealand focused oil and gas firm and its joint venture partner MEO Australia were forced to shift their strategy after the well proved to be uncommericial.
It was originally thought the Puka field had a deeper oil water contact (OWC). However, the Puka-3 well encountered an actual OWC some 30m higher than previously predicted.
The pair will now focus on the previously suspended Douglans-1 well.
It’s hoped new 3D data will unlock a recoverable resource potential of between five and 20 MMbbl from the well.
Kea chairman said: “With the disappointment of the Puka-3 result behind us it has been encouraging to receive the support of MEO for an on-going program, in particular to see if we can de-risk a Tikorangi updip prospect subject to further analysis and sampling of Douglas-1.
“Whilst the vastly larger potential rests in a successful Tikorangi prospect, the Directors of Kea remain optimistic about the prospect for further successful wells targeting Mount Messenger sands.”