Kauri-A1 Well Completion Report

Kauri-A1 was drilled as an exploration well in PEP38719. The well was to test the large Kauri structure located south of the rimu field and was designed to evaluate the Tariki reservoir discovered in Rimu-A1. Kauri-A1 was spudded on 2 May 2001. The Tariki (Upper Plate) was encountered at 3396m MD. The reservoir exhibited only 9m gross interval; however, good oil and gas shows were noted while drilling. The Rimu Limestone was seen at 3441m MD. The well drilled into the Murihiku at 3451 m MD and was still in the unit at the TD of 4500m MD. The Tariki (Upper Plate) was test, it flowed at about 280 BOPD initially but declined rapidly; averaging about 50 BOPD over the seven day test period. The Kauri-A1 is currently suspended awaiting further testing or possible fracture stimulation.