New Zealand Oil & Gas Limited (AU:NZO) has released an update.
Triangle Energy Global Ltd is gearing up to drill the Booth-1 well in the North Perth Basin, with the Ventia 106 rig expected to start spudding around July 31, 2024. This well targets multiple oil and gas prospects within the Booth Prospect, which is estimated to hold between 113 to 540 billion cubic feet of gas, with a best estimate of 279 billion cubic feet. The drilling operation, part of the L7 Joint Venture which includes partners Strike Energy and New Zealand Oil and Gas, is anticipated to reach a total depth of 2,900 meters in about three weeks.
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