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  1. #1
    Join Date
    Nov 2007
    Location
    Christchurch/Sydney
    Posts
    119

    Default Oil in the Great Southern Basin – any updates?

    Hi all, I haven’t heard much about this for a while and after trawling the net I can’t seem to find any info about where they are at with it – anyone on the ground in Invercargill that knows what’s going on there?
    Cheers,
    Emma

  2. #2
    Join Date
    Jun 2006
    Location
    Hutt City
    Posts
    1,305

  3. #3
    Join Date
    Nov 2007
    Location
    Christchurch/Sydney
    Posts
    119

    Default

    Thanks guys.

  4. #4
    Join Date
    Oct 2004
    Location
    Invercargill
    Posts
    283

    Default

    First drill decision likely to be announced by Exxon-Mobil consortium in October 2010. Very little public info available as to which way they will go.

    OMV consortium to announce in July 2011 - however they are out on the water down here now doing more seismic data collection and have indicated they may drill up to five wells in their first year, all going well.

    Both these large consortiums managed to extend their contract option by 12 months. In light of global financial machinations, it is unsurprising that they sought to do so and equally unsurprising that Crown Minerals said 'ok'.

    The Exxon Mobil-Todd Energy consortium has said it is looking for more partners in the venture. Anyway, they have bought themselves some more time - and oil prices will probably rise in that time.

    Greymouth Petroleum also has a permit - but nothing public as to what they are doing with it as far as I am aware.

    So first decisions likely next Spring.


 

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