NZO
09/12/2015 09:25
MINE
PRICE SENSITIVE
REL: 0925 HRS New Zealand Oil and Gas Limited
MINE: NZO: Kupe reserves upgrade
New Zealand Oil & Gas notes an upgrade in reserves in the Kupe gas and light
oil field in South Taranaki, New Zealand has been announced by joint venture
partner Genesis Energy Limited.
Genesis Energy announced its 33 per cent upgrade following a review by
international consultancy Gaffney Cline & Associates. The upgrade is broadly
aligned with the upgrade announced on 27 October by New Zealand Oil & Gas
following its own internal review (with a variation relating to predicted end
of field life, resulting from varying economic assumptions).
New Zealand Oil & Gas has a 15% interest in Kupe. The other Kupe partners are
Origin Energy, 50% (Operator); Genesis Energy, 31%; and Mitsui, 4%.
For further information:
John Pagani
External Relations Manager
+64 21 570 872
End CA:00274848 For:NZO Type:MINE Time:2015-12-09 09:25:56
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