MINE: NZO: Hoki Exploration Well Disclosure Notice

19 Apr 2010 11:38 am

NZO 19/04/2010 MINE

REL: 1138 HRS New Zealand Oil and Gas Limited

MINE: NZO: Hoki Exploration Well Disclosure Notice

NZOG (New Zealand Oil & Gas Ltd) advises that at 0600 hours (NZ Time) today, the Hoki-1 well was at a total measured depth of 3,700 metres and was undertaking wireline logging. No significant hydrocarbon indications have been intersected in the well.

The Hoki-1 well is located in exploration permit PEP 38401 in the offshore Taranaki Basin and has been drilled by the Kan Tan IV semi-submersible drilling rig.

At the completion of the logging programme, the Hoki-1 well will be plugged and abandoned and the rig will be moved to the Tui SW-1 well location in petroleum mining permit PMP 38158.

The Kan Tan IV will drill the Tui SW-1 and Kahu-1 wells, which are both located nearby to the existing Tui area oil fields and infrastructure.

NZOG is a 12.5% participant in PMP 38158.

Participants in Hoki-1 and PEP 38401 are: AWE (Operator) 50% New Zealand Oil & Gas Ltd (through its subsidiary Petroleum Resources Ltd) 10% OMV New Zealand Pty Ltd 21.25% Todd Petroleum Mining Company Ltd (Todd Energy) 18.75% End CA:00193877 For:NZO Type:MINE Time:2010-04-19:11:38:50

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