NZOG starts new Taranaki survey

Listed oil and gas company NZ Oil and Gas has begun a new seismic survey of an area near Waikawau, northern Taranaki.

The company, one of New Zealand's longest standing stock exchange-listed explorers, says it is surveying the area to delineate a structure with potential to contain more than 70 million barrels of oil.

The survey would provide essential data to construct realistic maps of the structures and to aid in identifying suitable drilling targets in the permit areas known as "Felix" and "Opito-Updip".