AWE releases Kan Tan IV after completing drilling at PMP 38158 off NZ

7/21/2014

AWE releases Kan Tan IV after completing drilling at PMP 38158 off NZ

NORTH SYDNEY -- AWE Limited (AWE), as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reported that plug and abandonment operations for the Oi-1 and Oi-2 exploration wells have been completed and that the Kan Tan IV drill rig was released on 19 July 2014.

The JV partners in PMP 38158 are: AWE (via subsidiaries) (Operator) 57.50%, New Zealand Oil & Gas (via subsidiaries) 27.50% and Pan Pacific Petroleum (via subsidiaries) 15.00%.

The JV partners in the Oi-2 exploration well are: AWE (via subsidiaries) (Operator) 31.25%, New Zealand Oil & Gas (via subsidiaries) 18.75% and Pan Pacific Petroleum (via subsidiaries) 50.00%.

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