Aorere Resources and Mosman Oil & Gas of Perth plan to drill two oil exploration wells on the West Coast near Greymouth this summer.
Aorere says drilling the two wells at the Kotuku oil seeps should allow it to gain sufficient data to establish whether there's oil and how feasible commercial development would be.
Mosman chairman John Barr said he thinks the field could have positive cash flow potential quite quickly from shallow onshore oil development as well as from multiple, deeper exploration.
