MINE: NZO: Kahu-1 Exploration Well Disclosure Notice

1 Jul 2010 2:05 pm

NZO 01/07/2010 MINE

REL: 1405 HRS New Zealand Oil and Gas Limited

MINE: NZO: Kahu-1 Exploration Well Disclosure Notice

NZOG (New Zealand Oil & Gas Ltd) advises that at 0600 hours today (NZ time) the Kahu-1 well was drilling ahead at a measured depth of 1,350 metres.

Kahu-1 is an exploration well within PMP 38158 in the offshore Taranaki Basin.

The well will test the Kapuni group sands within a large incised valley feature east of the Tui oil field.

Kahu-1 is being drilled by the Kan Tan IV rig in a water depth of 122 metres and is expected to drill to a total measured depth of approximately 3,820 metres.

Participants in Kahu-1 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:00196814 For:NZO Type:MINE Time:2010-07-01:14:05:12

More announcements for NOG