MINE: NZO: Tui SW-2 Exploration Well Disclosure Notice

24 Jun 2010 1:20 pm

NZO 24/06/2010 MINE

REL: 1320 HRS New Zealand Oil and Gas Limited

MINE: NZO: Tui SW-2 Exploration Well Disclosure Notice

NZOG (New Zealand Oil & Gas Ltd) advises that the Tui SW-2 exploration well has been successfully suspended as a future gas injection well.

Since the last report, the 7 inch liner has been run and cemented and the well suspended as a future gas injector.

At 0600 hours (NZ time) today, anchor handling operations were in progress on the Kan Tan IV drilling rig.

The rig is to move to the Kahu-1 location, approximately 2 kilometres east of the producing Tui oil field.

Participants in Tui SW-2 and PMP 38158 are: New Zealand Oil & Gas Ltd (through its subsidiary Stewart Petroleum) 12.5% AWE Limited (Operator) 42.5% Mitsui E&P Australia Pty Limited 35.0% Pan Pacific Petroleum NL (through its subsidiary WM Petroleum Ltd) 10.0% End CA:00196474 For:NZO Type:MINE Time:2010-06-24:13:20:31

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