News

SHAREHOLDER UPDATE ON COVID-19

Posted on 21 March 2020

Dear shareholders,

You will have all seen the dramatic global response to the spread of the COVID-19 virus and the fall in oil prices and global share markets. These events are serious, almost unprecedented, matters and naturally your Board and management have taken steps to mitigate their impact on the business. I thought it timely to provide a quick update for you on this and how we expect our business to be affected.

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Notice Of Issue Of Options Under Share Option Scheme

Posted on 19 March 2020

This notice is given pursuant to NZX Listing Rule 3.13.1. New Zealand Oil & Gas advises that it has issued options to acquire ordinary shares in the Company (“Options”) to certain of its employees. The Options have been issued under the New Zealand Oil & Gas Limited Share Option Scheme (“Scheme”).

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Mahato PSC update

Posted on 26 February 2020

New Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has provided an update that it has become aware that a tender has been released for the rental of oil production facility equipment for the Mahato PSC, this is attached.


Cue has a 12.5% interest in the Mahato PSC. New Zealand Oil & Gas has a 50.04% interest in Cue.

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New Zealand Oil & Gas Half-Year Result

Posted on 26 February 2020

  • Net loss $1.5m ($3.3m improvement from loss of $4.8m a year ago)
  • Cash balance of $105.2m (up 6.2% from $99.1m a year ago)
  • Kupe improvement projects underway
  • Preparation for drilling Ironbark in WA late 2020
  • Restrained overhead costs

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Director Resignation – Rebecca Delaet

Posted on 23 December 2019

New Zealand Oil & Gas Director and Audit Committee Chair Rebecca DeLaet has stepped down from the company’s Board for personal reasons, effective from Friday 20 December 2019.

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Mahato Exploration Well Update

Posted on 17 December 2019

New Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has provided an update related to the Mahato exploration well, this is attached.
Cue has a 12.5% interest in the Mahato PSC. New Zealand Oil & Gas has a 50.04% interest in Cue.

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Annual Meeting

Posted on 13 December 2019

Six resolutions were voted on by shareholders at the Annual Meeting of New Zealand Oil & Gas held in Wellington recently.

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Mahato Exploration Well Update

Posted on 10 December 2019

New Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has advised that the PB-1 exploration well has been drilled in the Mahato production sharing contract, onshore central Sumatra, Indonesia.

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Scheme Implementation Agreement Terminated

Posted on 22 November 2019

The scheme implementation agreement with O.G. Oil & Gas (Singapore) Pte. Ltd. (OGOG) was
terminated today.

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Scheme Meeting - Voting Results

Posted on 14 November 2019

The scheme of arrangement with O.G. Oil & Gas (Singapore) Pte. Ltd. (OGOG) was not approved by minority shareholders at the scheme meeting today.

To proceed, the scheme required 75% of the votes cast by minority shareholders (shareholders other than OGOG) to be in favour of it. The attached certificate from Computershare provides details of the voting outcome.

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