Clipper seismic survey completed

Posted on 31 December 2013

New Zealand Oil & Gas has completed an incident-free 3D seismic survey covering
approximately 650 square kilometres of the Clipper permit East of Oamaru.
The seismic vessel Polarcus Alima began the survey on 17 December towing twelve seismic
streamers, each 100 metres apart and reaching eight kilometres behind the vessel. The
survey was completed at approximately 8.30 this morning, more than a week ahead of
schedule. The terms of the Clipper exploration permit required a 3D survey to be completed
by October 2014.

The survey included an extension into the Galleon permit immediately southwest of Clipper.
Rights to explore in the Galleon permit were awarded to New Zealand Oil & Gas in the New
Zealand Government 2013 Block Offer on 6 December. The completed seismic survey
extension satisfies New Zealand Oil & Gas’s first year work obligation for this permit.
(Details of the Block Offer award are at .)

Data from the survey will be processed overseas and then analysed by New Zealand Oil &
Gas geoscientists in Wellington. The next process of study could take one to two years.
The Clipper and Galleon permits lie in the Canterbury Basin, which is a focus for frontier,
conventional oil and gas exploration. Extensive surveys were conducted in the Canterbury
Basin in the 1970s and 1980s and wells were drilled by BP in 1984. Drilling by another
operator is scheduled in an adjacent permit in early 2014.

A seismic survey is a method of testing the earth’s physical properties using acoustic
(sound) waves similar to ultrasound. Data collected is analysed to create an image of the
subsurface, which helps to determine whether prospects to drill exist and to resolve the
location of any exploration well. 

The survey was conducted under the New Zealand Department of Conservation 2013 Code
of Conduct For Minimising Acoustic Disturbance To Marine Mammals From Seismic Survey
Operations. Details of the Code can be found at
New Zealand Oil & Gas ceo Andrew Knight thanked the local community.

“Tangata whenua, the Deparment of Conservation and communtiy representatives enabled
a successful survey to occur with no impact on the marine environment,” he said.
New Zealand Oil & Gas has a 50 per cent interest in Clipper (Petroleum Exploration Permit
52717) and is the operator. The remaining 50 per cent is held by ASX-listed Beach Energy.
Beach Energy is also a partner with New Zealand Oil & Gas in the Kaheru prospect
(PEP52181) offshore South Taranaki.

New Zealand Oil & Gas holds a 100 per cent interest in Galleon (PEP 55792).
Attached: News Release with Map of Clipper and Galleon permits.