Kupe KS-9 Update

Posted on 14 June 2024

New Zealand Oil & Gas (NZX: NZO, ASX: NZO) notes the press release by Beach Energy Limited (Beach) Operator of the Kupe gas field attached.

As we have announced previously, the results at KS-9 have been disappointing and the impacts for the field are still under detailed review. Our review work continues and we will report our determination on the impact of this asset in due course, in-line with our usual reporting practices. Any reserves changes are not expected to have a material impact on NZO Group’s reserves profile.

NZO has a 4% participating interest in Kupe along with joint venture partners Beach (50%, Operator) and Genesis Energy (46%).