Niagara-1 was drilled by New Zealand Oil and Gas Ltd in 1985 and discovered oil in a newly identified unit, the Niagara Sandstone. The permit was dropped and a new permit then obtained by Ocean Harvest International (OHIL) in January 2001. Since then OHIL has investigated the Niagara discovery and drilled a further appraisal well (Niagara-3). As a result of the investigations, OHIL has confirmed that the Niagara field is an oil discovery and that it should be further appraised prior to seeking a full mining permit. Reserves estimates and previous work carried out are detailed in this report.
syndication_user created the Report Niagara Discovery Appraisal Report, PEP 38512
