New Zealand Oil & Gas launches its 2014 Portfolio

Posted on 16 September 2013

Annual Result

• Offshore New Zealand oil & gas exploration at an all-time high over next 2 years

• New Zealand Oil & Gas seeking farm in partners for New Zealand 2014 Portfolio

• Multiple drilling targets with potential for hundreds of millions of barrels of oil

A global marketing campaign is underway to attract exploration partners into four petroleum exploration permits in the offshore Taranaki basin of New Zealand.

New Zealand Oil & Gas is looking to capitalise on an all time high in New Zealand exploration activity. The Noble Bob Douglas deep-water drill ship, Kan Tan IV semi-submersible rig, and Ensco 107 jack-up rig will drill over a dozen wells in New Zealand in the coming year. They include Matuki-1, Oi-1 and Pateke-4H which are targeting nearly 80 million barrels of oil (gross) for NZ Oil & Gas and its partners.

New Zealand Oil & Gas chief executive Andrew Knight says New Zealand exploration opportunities have never been so high on the agenda for global exploration companies looking for high quality, high-impact opportunities. “Our New Zealand 2014 Portfolio offers new entrants to New Zealand a rapid country entry package.”

The permits in the New Zealand 2014 Portfolio contain a balance of scales, water depths and risk/reward levels, and offer a range of timing for potential drilling and for multi-scaled oil or gas developments.

New Zealand Oil & Gas is representing the interests of four separate exploration joint ventures and three separate joint venture parties.

In all but one, New Zealand Oil & Gas is the operator. Andrew Knight says that as New Zealand’s largest listed explorer it is recognised as the partner of choice for exploration in New Zealand. “While we can offer operatorship in the permits, partners are also recognising we bring technical capability, relations with New Zealanders in the community and in government, and our New Zealand values in everything we do. We are a nation of explorers.”

The marketing campaign for the New Zealand 2014 Portfolio will use a global exploration opportunity marketing service based in London.

Outlines of the opportunities in the portfolio are attached below.

Suitably qualified, interested companies are invited to express their interest in the opportunities direct to New Zealand Oil & Gas.

Interest can be expressed online at nzog.com/2014offer

Attachment: New Zealand Oil & Gas 2014 Portfolio - Opportunity Snapshots