Gas Supply Agreement Extension Unconditional

Posted on 26 June 2024

As announced on 21 September 2023, New Zealand Oil & Gas (NZX: NZO, ASX: NZO) agreed to extend the gas supply agreement with South32 Cannington for supply of gas from the Mereenie field, for an additional 12 months, conditional on transportation agreements. This agreement has become unconditional.

NZO has a 42.5% interest in the Mereenie project along with joint venture partners Horizon Oil (25%), Central (25% Operator) Cue Energy Resources (7.5%).

For further information please contact or +64 4 495 2424.

About New Zealand Oil & Gas Limited New Zealand Oil & Gas Limited (NZX/ASX:NZO) is a nimble Australasia-focused energy commodity exploration and production company, headquartered in Wellington, New Zealand. The company is committed to undertaking development and exploration activities that are ethical and values-based, and underpinned by quality relationships, skills and values. It also strives to deliver strong ESG standards that meet the benchmarks expected by communities and regulators.

The company’s portfolio comprises a spread of wholly- and partly-owned onshore and offshore oil and gas assets, located in Australia, New Zealand and Indonesia. These stakes are held either directly by the company, or indirectly through its circa 50% stake in ASX-listed Cue Energy Resources Limited (ASX:CUE). New Zealand Oil & Gas’ team of experienced energy sector experts, along with those of its key partners, are now working together to explore and develop multiple assets on the company’s books. These activities have comprised multiple exploration programs that continue to validate prospectivity within New Zealand Oil & Gas’ asset portfolio.

At the same time, the company along with its joint venture partners remain on the lookout for opportunities to acquire additional value-accretive producing and exploration assets.