Trans-Orient Reviews Unconventional Fractured Oil Shale Prospects in in Waipawa and Whangai, New Zealand

Thursday, October 23, 2008

Trans-Orient Petroleum Ltd. announces that AJM Petroleum Consultants has completed a Resource Assessment on the fractured oil-shale potential associated with the Company’s 2.2 million acres (Trans-Orient 100%) located in the East Coast Basin of New Zealand. The report dated September 1, 2008, was completed in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.

Trans-Orient CEO Garth Johnson noted, “This report confirms our interpretation that the onshore East Coast Basin of New Zealand is highly prospective for a fractured oil shale play similar to the Bakken Formation within the Williston Basin in Southern Saskatchewan and North Dakota. We were originally attracted to the East Coast Basin of New Zealand by the hundreds of active oil and gas seeps naturally occurring on our lands. We’ve tested a number of these seeps and geochemically confirmed the sweet, light (500API) crude oil is being generated from these two world class source rocks.”

Prospective resources have been assigned to Trans-Orient’s land based on well log data, core pyrolysis, and the Company’s field measurement of outcrop and oil and gas seep locations. The report concludes the best estimate (P50) hydrocarbon in place volume of 12.6 billion barrels is the total available volume (S1 plus S2) for both the Waipawa and Whangai shales.

Mr. Johnson further commented: “There have been a number of modern wells drilled in the East Coast Basin targeting conventional exploration prospects, but Trans-Orient will be a first mover in the Basin to leverage North American knowledge and technology to test the unconventional potential of these fractured oil shales in New Zealand. We control a 100% interest within the 2.2 million-acre Permit holdings; the P50 resource potential stated in the AJM report (Original Oil In Place = 12.6 billion barrels) is based on less than 10% of those lands. We feel there is tremendous upside potential to both the conventional prospects and the unconventional fractured oil shales within our Permits.”

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Nanotechnology hits the oilpatch
    Dropping energy prices—for both oil and natural gas—has investors and analysts checking to see what the break-even price is for oil production in each play ...

» More Opinion & Commentary         » Write for us             RSS RSS

Oil & Gas Training

Mastering 4D Seismic
Ian Jack, London, 06 Nov 2014

Petroleum Geology of West Africa
Duncan Macgregor, London, 12 Nov 2014

Introduction to Contingency Planning: The value to oil and gas companies in high-risk areas
Mark Theobald, London, 18 Nov 2014

All Upcoming Training


Opinions & Commentary

Oil price, President, Genel/SL/Serica, Egdon/Europa, Sundry-Range-Afren-Halliburton, And finally...

by Malcolm Graham-Wood

Read More »