Kiwi Round To Bear Fruit?

New Zealand is set to launch a new licensing round later in 2008 covering the Raukumara area off the North Island's east coast. The Raukumara Peninsula area, north of the East Coast basin, is an exploration frontier, which New Zealand's petroleum agency, Crown Minerals, believes to be highly prospective. In 2007 Auckland carried out 2,200km of 2D seismic surveys on the area, with the data to be supplied to explorers on the launch of the round. The odds of an oil discovery are considered fairly high, following the recent success of the Tui field, which is now producing some 45,000

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