the potential upside, page-3

supplejack-1 Might cover the cost of the other recent dusters in Taranaki ?? SALTY

Austral also provided further details to those given by PEP 38741 partner Tap Oil on the onshore Taranaki Supplejack-1 well hitting two potential pay zones.

Austral said electric logs indicated the lower of the Miocene-aged Mount Messenger sands, encountered near 1950m, might flow oil at a modest rate. Gas was likely from the upper zone (near 1350m).

Initial testing of the lower zone would proceed to oil production if successful, or if not, then testing of the upper zone would be done, with gas linked to nearby pipelines or used for on-site electricity generation in the event of success.