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New Zealand Oil & Gas ups Cosmos reserves


Published Nov 6, 2012
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New Zealand Oil and Gas Ltd

New Zealand Oil & Gas has upped its reserves at the Cosmos development offshore Tunisia by as much as 40%.

An independent assessment of the field, which is operated by Storm Ventures International, has estimated the 2P reserves at 8.8 million barrels of recoverable hydrocarbons. This represents a 40% increase from the reported 2P reserves when NZOG farmed in with SVI.

Earlier independent assessments by others had indicated that the 2P reserves were within a 10% margin.

A Final Investment Decision is likely in the first quarter of next year.

Tags: New Zealand Oil and Gas Ltd




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