FLLYR: NZO: Results for Announcement to the Market

26 Aug 2010 9:23 am

NZO 26/08/2010 FLLYR

REL: 0923 HRS New Zealand Oil and Gas Limited

FLLYR: NZO: Results for Announcement to the Market

NEW ZEALAND OIL & GAS LIMITED NZ Reg. Coy. No. 037842 ARBN 003 064 962 www.nzog.com Results for announcement to the market

Reporting Period 12 months to 30 June 2010 Previous Reporting Period 6 months to 31 December 2009 Comparative Reporting Period 12 months to 30 June 2009

Amount (NZ$ 000s) Increase / (decrease) 12 months 12 months % to 30 June 2010 to 30 June 2009 Revenue from ordinary activities 99,374 138,889 (28%) Surplus / (deficit) from ordinary activities after tax attributable to security holders (3,255) 53,206 (106%) Net profit / (loss) attributable to security holders (3,255) 53,206 (106%)

NZ$ NZ$ % Net Tangible Assets per share 1.14 1.28 (11%)

Interim/Final Dividend: Amount per security Imputed amount per security Final Dividend 5 cents Fully imputed

Record Date 17 September 2010 Dividend Payment Date 1 October 2010

Comments: Accompanying this announcement are the company's audited financial statements, for the year ended 30 June 2010, that have been prepared in accordance with generally accepted accounting practice and give a true and fair view of the matters to which the statements relate.

These financial statements provide the balance of information required in accordance with Listing Rule 10.4.2, Appendix 1.

The attached financial statements do not include the dividend declared with this notice.

NZOG's Dividend Reinvestment Plan (DRP) remains in operation for shareholders resident in New Zealand or Australia. These shareholders can choose to invest all or part of their future dividends in taking up additional NZOG Shares, instead of receiving cash. New Shares issued under the DRP continue to be offered at a 2.5% discount to the weighted average sale price for shares sold on each of the first five business days immediately following the dividend record date. Shareholders who wish to join the DRP or amend previous participation instructions should contact the share registry, Computershare, on 0800 467335 (NZ) or 1800 501 366 (Aust). End CA:00198872 For:NZO Type:FLLYR Time:2010-08-26:09:23:43

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