asx 300 & reserves 2.96 million barrels

Reserves 2.96 Million Barrels at 31st Jan 2009

PPP ANN 19 March, 2009

Please find attached the January 09 Financial Information.

As at end January PPP has retained some A$150 million (equivalent) in cash comprising A$52 million, NZ$32 million and US$47 million. This excludes US$7 million held as collateral to support the Tui FPSO lease arrangement.

With effect from the close of trade on March 20 2009, PPP will be admitted to S&P/ASX 300 and S&P/ASX All Ordinaries Index reflecting the relative increase in the market capitalisation and current strength of the company.