Pukatea-1 Testing Report

This report discusses well testing carried out on Pukatea-1 during March 2018. Pukatea-1 successfully tested the Mt Messenger Fm, with a total of 1,774 mscf gas, 531 bbl oil, and 19 bbl water produced. Peak rates of 702 mscf/d gas and 336 bbl/d oil were recorded, with rates stabilising at 472 mscf/d gas and 116 bbl/d toward the end of testing. PVT analysis of surface oil and gas samples returned reservoir fluid properties. Pressure transient analysis of acquired pressure data provided indicative reservoir properties and indicated that depletion had occurred as a result of production from the offset Puka-1 and Puka-2 wells. Pukatea-1 was shut in at the conclusion of testing pending further work on the Puka asset.