Pakaha-1 Well Completion Report

The Hipco 1 Pakaha wildcat location is in 2,200 feet of water depth and is located on the SW extension of the trough that forms the centre of the Great South Basin. The structure covers over 50 square miles and shows up to 600 feet of structural uplift from late Tertiary down through the deep green horizon. An alternating lithology of sand, shales and limes is expected in this wildcat. The fact that adequate structural closure exist from sea-floor to depths of 11,000 ft + offers the possibility of finding very large hydrocarbon reserves at a number of separate levels. A paleogeological environment of marine depositional conditions, together with anticipated adequate source and reservoir beds throughout the section make this a promising prospect.