Trans-Orient goes ahead

Trans-Orient Petroleum is to go ahead with a seismic programme next month in its East Coast Basin petroleum exploration areas, after promising early indications.

Canadian-based Trans-Orient has two onshore permit areas covering about 8750sq km - one north of Gisborne, while the other is mostly south of Napier. Both areas have coastal boundaries.

As well as conventional exploration targets, the areas also include an unconventional opportunity in fractured oil and gas shale formations. The the formations have many similarities to successful projects being developed in the United States.

Trans-Orient said exploration results from its unconventional play were positive.