Ann: MINE: NZO: Oi-2 progress report

• Release Date: 24/06/14 09:05
• Summary: MINE: NZO: Oi-2 progress report
• Price Sensitive: No
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					NZO
24/06/2014 09:05
MINE

REL: 0905 HRS New Zealand Oil and Gas Limited

MINE: NZO: Oi-2 progress report

The Oi-2 well in Petroleum Mining Permit 38158, offshore Taranaki, New
Zealand, was running in hole with 12  inch drill equipment at 6.00AM today,
the operator has advised.

Preparations were being made to drill ahead with a 12  inch hole to the
planned section target depth of 1,500 metres.

The well has been cased and cemented at 550 metres.

Oi is about 37 kilometres off the coast of Taranaki, New Zealand, in about
120 metres of water. It will be drilled to a planned total depth of 3,881
metres.

The joint venture partners in the Oi exploration well are:
AWE Limited: 31.25% (Operator).
Pan Pacific Petroleum: 50%
New Zealand Oil & Gas (through subsidiary): 18.75%.

The Joint Venture partners in PMP 38158 are:
AWE Limited (Operator) 57.5%
New Zealand Oil & Gas (via subsidiaries) 27.5%
Pan Pacific Petroleum (via subsidiaries) 15%

John Pagani
External Relations Manager
+64 21 570 872.
End CA:00251921 For:NZO    Type:MINE       Time:2014-06-24 09:05:50