Elemental Group congratulates our client WestSide Corporation on their successful application for a 547 square km exploration permit (PEP 60402) offshore South Taranaki, immediately south of their onshore Rimu, Kauri and Manutahi fields. This is the sole new permit to be granted from the 2017 New Zealand Block Offer.

Elemental’s exploration geoscience team advised WestSide on the geology and prospectivity of the block, researched the exploration history, compiled existing data including the “Kaheru” 3D seismic survey, and helped to formulate the work programme which involves applying a seismic reprocessing technique developed since the survey was last processed.

With WestSide’s insights into the local petroleum system from their Rimu/Kauri field reappraisal and operations, and Elemental’s in-depth knowledge of Taranaki basin as a whole, the results of the seismic reprocessing and other studies to be undertaken during the first 2-3 years of the permit can be expected to up-grade the commercial appeal of the Kaheru prospect and potentially expand the prospect inventory in the block, which is situated at the intersection of two Taranaki Basin producing trends – the eastern basin margin running north, and the Kupe field adjacent to the west.