Ann: MINE: NZO: Consents received

• Release Date: 18/02/13 10:30
• Summary: MINE: NZO: Consents received
• Price Sensitive: No
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NZO
18/02/2013 08:30
MINE

REL: 0830 HRS New Zealand Oil and Gas Limited

MINE: NZO: Consents received

Ministerial consent has been received for three sale and farmin agreements
between New Zealand Oil & Gas and ASX-listed Octanex NL over petroleum
exploration permits 51906, 53473 and 52593.

In November last year New Zealand Oil & Gas announced it would pay US$12.5
million for a 12.5 per cent interest in Petroleum Exploration Permit 51906
(Matuku), where the semi-submersible rig Kan Tan IV is to drill in the coming
2013-24 season.

The other permits in the agreement receiving ministerial consent are PEP
53473 and PEP 52593 where New Zealand Oil & Gas will acquire 50 per cent
interests.

In PEP 53473, a survey will obtain seismic 3D data across 600 square
kilometres within the permit this year. The permit requires data to be
acquired and processed across 250 square kilometres by March next year.

John Pagani
External Relations Manager
M: +64 21 570 872
End CA:00233020 For:NZO    Type:MINE       Time:2013-02-18 08:30:12