New Zealand Oil & Gas Limited (AU:NZO) has released an update.
New Zealand Oil & Gas Limited is initiating drilling operations at the Booth 1 well in the Perth Basin, with expectations to commence in the week of July 23rd and continue for approximately three weeks. The well aims to explore the gas-rich Kingia formation and other prospective intervals, potentially expanding the gas play in the region. This venture is a part of a joint operation with Triangle and Strike Energy Ltd, each holding a significant stake in the project.
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