Document Actions
North Canterbury onshore well Kate-1 plugged
12 June 2008, Source: Gas2Grid and Lindsay Clark - The onshore North Canterbury well Kate-1 drilled by private company Green Gate Ltd and its Australian-based farm-in partner Gas2Grid Ltd has been plugged and abandoned after reaching a total depth of 1,112 metres.
Gas2Grid says that although Kate-1 did not discover hydrocarbon indications it found a substantial thickness of very high porosity sandstone reservoir within the main Broken River Formation target. This contained about 70 m of sandstone with porosity in the range of 30% plus shale samples which exhibited hydrocarbon fluorescence.
This may prove to be a hydrocarbon source rock within the 2,429 sq km onshore section of PEP 38260, Gas2Grid says.
Further exploration and prospect evaluation would incorporate new data gathered by the well including geochemical analysis of shales samples to assess oil source potential and maturity.
Under the joint venture agreement with Green Gate, Gas2Grid has earned a 40% interest in the entire onshore area of the permit by funding the first $1.2 million, and its pro-rata share of costs over $1.2 million, of the cost of Kate-1. Gas2Grid says it has also paid A$600,000 to acquire another 15% interest giving it a total interest of 55%.