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Taranaki Basin

Bonanza continues for Maari Partners

Maari Partners have continued a successful run in the offshore Taranaki basin with another oil strike announced on the ASX last week.

Horizon Oil (HZN), a 10% partner, announced the M2A appraisal well (the MR9 well) had been drilled to 3,048 metres and the M2A zone was likely to contain between 30 million to 40 million barrels, about a quarter of the oil in place in the primary Moki zone.