Indo-Pacific Energy Ltd. - Oil play in New Zealand - 500 Beiträge pro Seite

[JosedelaVega]

na vielleicht hab ich da was interessantes

Indo-Pacific Energy Ltd.
Kürzel: indof
WKN: 900504
akt. Kurs: 1,05 US Dollar

werd in den nächsten Tagen euch etwas mehr Infos reinstellen - diese Firma scheint mir sehr interessant


hier die letzte zu "beachtende wichtig" NEWS

New Directors Appointed to Indo-Pacific Board
October 08, 2003 23:11:00 (ET)


WELLINGTON, New Zealand, Oct 8, 2003 /PRNewswire-FirstCall via COMTEX/ -- Indo-Pacific Energy Ltd. (INDOF, Trade) announces the appointment of Mr. David Newman and Mr. Peter Tapper to the Company`s Board.

Mr. David Newman is taking up the position of Chairman, held since mid-year by Mr. Bernhard Zinkhofer, who continues as a director. Mr. Newman enjoyed a 22 year career with British Petroleum, culminating in four years as CEO and Managing Director of BP New Zealand Ltd. He is presently a director of several prominent New Zealand companies, and also serves as Chief Executive Officer of the Institute of Directors of New Zealand.

Mr. Tapper is a professional engineer, having 34 years with Royal Dutch Shell. During that time he held a number of senior management positions, including that of Executive General Manager of Woodside Offshore Petroleum, the operator of the North-West Shelf Project, a joint venture between Shell, BP, Chevron and other major companies. This Project resulted in the first development of the huge gas reserves off Australia`s northwest shelf and the construction of world scale LNG export facilities.

To accommodate these appointments, Dr. David Bennett is stepping down at present as a director, although he will continue as Chief Executive Officer and will be nominated for election to the Board at the next Annual General Meeting. Dr. Bennett commented, "We are delighted to have secured the involvement as directors for Indo Pacific of such calibre as Mr. Newman and Mr. Tapper. Their skills, contacts and experience will be invaluable to the Company as it embarks on a new phase of exploration focused on rebuilding New Zealand`s oil and gas reserves."

In other news, the Company reports that the agreements previously advised for the sale of the Company`s assets in PMP38148 and for the settlement of all claims, have now been settled.

Bad weather has delayed the South Pacific drilling rig`s move on to the previously announced Bluff-1 wellsite in PEP 38746 (INDOF 25%); but this is now underway, and the well is expected to commence in the next few days.

In PEP 38718 (INDOF 10%) the Tuihu-1A well, with Swift Energy as operator, is making slow progress in difficult drilling conditions at a depth of 4695 m (15,404 feet). Some oil indications have been observed, but their significance cannot yet be evaluated.

Production testing of the Cheal-1 well is expected to commence on or around October 20.

Dr. Bennett confirmed, "The Company is well funded for its immediate activities, and looks forward to announcing new drilling projects in the near future."

This release includes certain statements that may be deemed "forward- looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although Indo-Pacific believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

SOURCE Indo-Pacific Energy Ltd.
Copyright (C) 2003 PR Newswire. All rights


José

[JosedelaVega]

zwar noch der 02er anual report aber ...

http://www.indopacific.com/Indo-Pacific_2002_Annual_Report.p…

José

[JosedelaVega]

Indo-Pacific Energy Ltd. is an oil and gas exploration and production company. The Company is involved in the exploration for commercial quantities of hydrocarbons and, to a lesser extent, the development and production of hydrocarbons. Its focus is on the acquisition, exploration and development of properties in the Austral-Pacific region. The Company holds varying interests in approximately 1.5 million acres of exploration permits in New Zealand, 0.5 million acres of exploration permits in Australia and 1.8 million acres of exploration interests in Papua New Guinea. The Company`s primary focus is the acquisition and exploration of oil and gas properties, and the majority of its permits are in the exploration stage. Its policy is to acquire interests, and, where possible, to minimize its risk exposure by farming out or joint venturing property interests to other industry participants.


dies nun mit dem neune Management

José

[JosedelaVega]

die Marktkap. liegt bei rund 8 Mil. Dollar

und hier gestern eine Meldung, welche man sich ganz
genau durchlesen sollte - vor allem die Anteile am Ende !

25 % INDO-PACIFIC

TAP OIL LIMITED
ABN 89 068 572 341
13 October 2003

The Company Announcements Platform
Australian Stock Exchange
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Fax : [phone]

SPUDDING OF BLUFF-1 EXPLORATION WELL ONSHORE NEW ZEALAND

In accordance with Listing Rule 3.1, Tap Oil Limited ("Tap"), on behalf of its wholly owned subsidiary Tap (New Zealand) Pty Limited, advises that the Bluff-1 exploration well spudded at 19.00 hours on 12 October 2003.

Location

The well is located in PEP 38746 in the onshore Taranaki Basin of New Zealand at latitude 39° 07` 30.05" S and longitude 174° 20` 06.9" E.

Progress

As at 6:00 am today, the Bluff-1 well has drilled ahead to 104 metres measured depth and will continue to drill ahead to the planned total depth of 1,550 metres measured depth.

Tap Comment

The Bluff-1 well is being drilled to investigate the hydrocarbon potential of the Mt. Messenger sandstones at a depth below 1,200 metres measured depth. Secondary objectives include channel deposited sandstones within the overlying Urenui Formation.

The Bluff-1 well is expected to take 8 days to reach the proposed total depth of 1,550 metres measure depth.

Joint Venture Participants in PEP 38746 are:

Tap (New Zealand) Pty Limited 25.0%
Indo-Pacific Energy (NZ) Ltd (Operator) 25.0%
Magellan Petroleum (NZ) Limited 25.0%
AWE New Zealand Pty Limited 25.0%

Enquiries to:
Paul Underwood (Managing Director)
Telephone: [phone]
Email: [e-mail]
Website:www.tapoil.com.au

José :Cool:

[JosedelaVega]

Kurs: 1,07 zu 1,11 US Dollar

nicht dass ihr sagt ich lasse nur pos. hören

Die erste Zone war nichts
bei www.nzog.com.au könnt ihr euch die results des tests der tariki formation betrachten.

dies war erst der Anfang - und hat fast keine Aussagekraft

trotz allem immer schön kritisch bleiben und
auf alle fälle alles genau weiter beobachten

allen ein schönes Wochenende

José

[farang03]

Halt uns auf dem Laufenden, aber bitte nicht in die Niveau Niederungen der San Telmo Jünger absinken!!

Bye, H. aus H.

[JosedelaVega]

was soll denn das ?
ich halt euch doch nicht auf dem Laufenden, wenn Du, den ich nicht einmal kenne, mir das sagst.
und vor allem noch wie ich das zu tun hab !! ???

Meine Bordtätigkeit wird so oder so nicht mehr lange so aktiv sein, denn jeder hier will immer nur Infos aber geben ...

trotzdem noch einen schönen Abend
und entschuldigt meinen Ton - aber das kann einen schon manchmal....

Es sollte ein GEBEN und NEHMEN sein !

von Dir farang03 hab ich noch NIE was gehört !

José

[JosedelaVega]

um auf Posting #5 wieder zu sprechen zu kommen

es zeigt sich nun auch im Kurs, dass die Bohrung kein Erfolg wohl wird - akt. 0,81 zu 0,92 US Dollar

na mal schaun was David Newman so mitbringt ....
halte dies hier weiter für sehr interessant

José

[JosedelaVega]

Monday, October 27, 2003
In another minor setback for the country`s ailing gas industry New Zealand`s Tuihu-1A well is being plugged and abandoned, having reached a total depth of 4845m.

The well intersected some 50m of a predominantly coaly Kapuni sequence, with only relatively low levels of gas, before the drill string became stuck in the hole at 4845m.

All attempts to free the drill pipe failed and finally the drill string was severed at 4304m, leaving a significant section of pipe in the hole.

New Zealand Oil & Gas said hydrocarbon indications from the Kapuni Formation were not sufficiently encouraging to warrant further drilling.

Interests in the venture include Swift Energy New Zealand 50% (operator), New Zealand Oil and Gas 20%, Origin Energy Resources NZ 20% and Indo-Pacific Energy 10%.


Bluff-1 nothing more than hot air

Monday, October 27, 2003
The Indo-Pacific operated Bluff-1 well located in PEP 38746, onshore Taranaki Basin, New Zealand, has been plugged & abandoned.

Bluff-1 had reached a revised total depth of 1,459m with wireline and drilling logs indicating that no significant hydrocarbons were encountered.

The well, which was located to the east of the recently acquired Kaimata 3D seismic survey was a permit obligation well and was considered high risk.

The Kaimata 3D seismic survey has now been completed and interpretation is underway. It is anticipated that several wells will be drilled based on this data by mid 2004.

Participants in Bluff-1 were Tap (New Zealand) 25%, Indo-Pacific Energy (NZ) (operator) 25%, Magellan Petroleum (NZ) 25% and AWE New Zealand 25%.

[JosedelaVega]

aha

Cheal-1 Production Test Positive
Friday October 31, 1:23 am ET


WELLINGTON, New Zealand, Oct. 31 /PRNewswire-FirstCall/ -- Indo-Pacific Energy Ltd. (OTC Bulletin Board: INDOF - News) advises that the Cheal-1 production test (Indo-Pacific, Operator, 33.5% plus royalties) commenced on October 20 and is proceeding well.
ADVERTISEMENT


Flow is being maintained through a 5/8" choke into the on-site production facilities, where the oil is separated from the gas and stored on site. Export of oil is by road tanker to the nearby TAWN production station, under a short-term marketing agreement with Swift Energy, the operator of that facility. Two shipments have already been sold. Oil flow rates are averaging around 70 barrels per day.

The production test is designed to provide estimates of the volume of gas in the reservoir accessed by Cheal-1; so that decisions on a gas export pipeline can be made. There are several options for the pipeline, including connections to the TAWN plant, to NGC`s regional pipeline system or to Contact Energy`s gas-fired power station, about four miles to the north.

The production test will continue for another 8-10 days at a constrained rate of one million cubic feet of gas per day. Thereafter the well will be shut-in for a week, before the downhole pressure gauges are recovered to surface and analyzed. If these show a critical reserve level, a similar test will be conducted forthwith on Cheal-2. This is an existing well deviated to the east from the same site, which also flowed gas and oil on test from the same sands when originally drilled in 1995.

A third well is planned to be drilled a short distance to the north in early 2004, to check the continuity and quality of these oil and gas sands, as well as the oil potential of the underlying Mt Messenger sands, which form a separate reservoir target. CEO Dave Bennett commented, " the production test has proceeded very well so far, with stable rates and flowing pressures being achieved. While this test was intended to establish Cheal as a producing gas field, we are delighted with the oil rates also being achieved. These are considerably higher than when the well was originally drilled, as a consequence of our improved completion and production techniques. Our custom designed and built production facilities are working well, and are scaled to handle the likely total output of all three wells."

The Parker rig has now been released from contract on the Swift operated, Tuihu-1A wellsite (Indo-Pacific 10%). The well reached the Kapuni reservoir target, but was plugged and abandoned at TD of 4845m ( 15,896 feet) due to engineering difficulties associated with coal seams encountered in the well. Some evidence for hydrocarbons was encountered, but not sufficient to justify the expense of deepening the well to test further within the Kapuni sandstones.

In Australia, Hardman Resources Ltd., listed on the ASX and the London AIM, http://www.gtp.com.au/hardman/ has taken up West Oil`s interest in ACP26 ( INDOF 49.375%). We welcome Hardman to the joint venture.

CONTACT: Investor Relations of Indo-Pacific Energy Ltd., [phone], or [phone], or [e-mail].

This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although Indo-Pacific believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.


José

[JosedelaVega]

ich weis nicht - aber diese Firma scheint mir wirklich interessant


Neil Ritchie, New Zealand

Monday, November 10, 2003
Indo-Pacific Energy boss Dave Bennett is taking a line from the US Navy in response to rumours that his company is about to list on the New Zealand Stock Exchange.

"I have no comment to make, to either confirm or deny these rumours, not even to EnergyReview.Net," was all Bennett would say to ERN while driving on a California freeway today.

"Neither confirm nor deny" was the stock United States response regarding possible nuclear weapons aboard US warships that visited New Zealand during the 1980s.

Rumours have resurfaced that Indo-Pacific expects to soon list on the main board of the stock exchange (NZX), with an initial public offering (IPO) of up to $NZ10 million.

This follows the company`s June announcement of the placement of special class securities to a number of "prominent and experienced" private investors in New Zealand, raising approximately $US900,000 for future exploratory work.

Those securities carried the right to convert to either common shares in Indo-Pacific, which is listed on the Toronto exchange, or to a share of future revenue streams or to participation in any future New Zealand-based IPO. Shares in Indo-Pacific already trade on the unlisted Kiwi market.

Any listing on the NZX main board would give small investors an opportunity to participate in the now almost frantic search for new gas reserves to avoid supply shortfalls from perhaps 2005.

Bennett hinted at such a listing earlier this year when he said up to three "deep gas" wells, targeting the Tariki Sandstones or Eocene-aged Kapuni group, could be drilled within the next two years, given the successful raising of the necessary exploration capital.

He also said he believed Indo-Pacific had some of the region`s best deep gas prospects within its own acreage, including the Akama prospect in onshore Taranaki licence PEP 38453. He told ERN Akama was a deep-gas feature identified by seismic, which looked similar to, but better than, the nearby Huinga and Makino prospects.


José

[JosedelaVega]

+ 20 % auf 1,08 US Dollar

das Zukaufen unter 1 US Dollar hat sich gelohnt

José

[JosedelaVega]

YES 4.000.000 Shares 20 % über dem aktuellen Kurs

hier die NEWS von Gestern - endlich das Listing an der NZSX


Indo-Pacific Energy Announces Capital Raising and TSX Venture Exchange and NZSX Listing Intention
Thursday November 13, 5:35 pm ET

WELLINGTON, New Zealand, Nov. 13 /PRNewswire-FirstCall/ -- Indo-Pacific Energy Ltd. (OTC Bulletin Board: INDOF - News) Indo-Pacific Energy Ltd., one of New Zealand`s most active oil and gas explorers, today announced its intention to raise up to US$4,960,000 and to seek a listing on the New Zealand Stock Market (NZSX).
ADVERTISEMENT

The company is offering 4,000,000 shares at the issue price of US$1.24 per Share. In addition, for every two Shares being offered, investors will receive one Warrant, exercisable at a price of US$1.30 at any time up to 30 November 2004.

Indo-Pacific Energy CEO Dave Bennett said the company expected to release the prospectus for the Issue next week.

Indo-Pacific Energy operates in New Zealand, Australia and Papua New Guinea. It holds the most extensive exploration portfolio within the onshore Taranaki basin of any industry player operating in New Zealand. It also holds permits in the offshore Taranaki basin, the East Cape and Canterbury regions, and the offshore Vulcan Trough in Western Australia and the Papuan Basin in Papua New Guinea.

Dr Bennett said the capital raised would progress and commercialise Indo-Pacific Energy`s exploration and development programmes. The capital will be primarily dedicated to the requirements of its New Zealand assets.

Directors of the company are David Newman (CEO of the Institute of Directors in New Zealand, former Managing Director of BP New Zealand Ltd 1990-1994); Peter Tapper (former Executive General Manager of Woodside Offshore Petroleum); Ronald Guiseppe Luigi Bertuzzi (Board member of AMG Oil Ltd and Gondwana Energy Ltd); Garth Johnson (CFO of TAG Oil Ltd) and Bernhard Josef Zinkhofer (qualified Chartered Accountant and Lawyer and company director).

The Issue opens on November 17th and closes on December 12th. The New Zealand listing is conditional on the Company being accepted for listing on the Toronto headquartered Venture Exchange (TSXV), expected to be completed before the New Zealand offer closes. The TSXV will be the `home` exchange for Indo-Pacific and after the regulatory periods below, the shares may be traded on the TSXV, the NZSX or the OTCBB.

The Share and Warrants have not been registered under the United States Securities Act of 1933 and, in the absence of such registration or an applicable exemption, may not be offered or sold in the United States. This investment is generally not available outside New Zealand. No prospectus in connection herewith will be filed in Canada and accordingly the Shares and Warrants will be subject to resale restrictions to Canadian residents and in Canada for 4 months after allotment. Further, pursuant to Regulation S of the United States Securities and Exchange Commission, the offer or sale of these securities, if made prior to the expiration of 40 days following allotment (or, in the case of Ordinary Shares issued pursuant to the exercise of Warrants, for 40 days after their issuance), may not be made to a U.S. person or for the account or benefit of a U.S. person, and each distributor, dealer or other person receiving a selling concession, fee or other remuneration in respect of the securities sold, prior to the expiration of such 40-day period, must send a confirmation or other notice to the purchaser stating that the purchaser is subject to the same restrictions on offers and sales that apply to a distributor.

Application has been made to the NZSX for permission to list the Shares and the Warrants of the Company as an Overseas Listed Issuer. The NZSX listing is conditional on the Company being registered for listing on the Toronto Venture Exchange which application has been made. All the requirements of the TSXV and the NZSX relating to such applications that can be complied with on or before the date of the Offer Document have been duly complied with. However, the TSXV and the NZSX accept no responsibility for any statement in this release.

CONTACT: Investor Relations, Indo-Pacific Energy Ltd., tel: [phone] or [phone]

Web site: http://www.indopacific.com Email: [e-mail]

José

[JosedelaVega]

http://www.indopacific.com/NZHaines.pdf

José

[JosedelaVega]

aktuell von 1,25 zurück auf 1,05 Dollar

mir gefallen die Kursbewegungen überhaupt nicht
hab vorerst Pos. wieder abgebaut !

beobachten

José

[morchel]

Jose...probiers mal mit FRUEF



morchel

[JosedelaVega]

WELLINGTON, New Zealand, Dec. 4 /PRNewswire-FirstCall/-- Indo-Pacific
Energy Ltd. (OTC Bulletin Board: INDOF) Indo-Pacific`s CEO, Dave Bennett,
provides this update of the Company`s exploration and corporate activities.

Exploration Operations
1) Appraisal and Development Projects
a) The Kahili gas-condensate field.
A gas pipeline link is to be constructed by NGC and is scheduled for
first production by mid 2004. A Kahili-2 production well is
conditionally scheduled for late 2004, after several months of
production history has been obtained from Kahili-1.

b) The Cheal gas and oil field
The one-month production test of Cheal-1 was completed in late
November, and the downhole gauges were retrieved. The well flowed an
average of 50 barrels of oil per day, with the gas rate stabilising
at 1/2 million cubic foot per day; with 1,330 barrels of oil and
20 million cubic feet of gas being produced during the test. Analysis
of the gauge data has proved to be complicated because separate oil
and gas reservoirs are flowing simultaneously within the pay interval.
Further downhole pressure data are required to properly define the
well flow parameters and hence draw conclusions on the gas volumes in
the reservoir at Cheal-1. The pressure gauges will, therefore, be
placed back into the well, where they will remain through the
Christmas interval. The testing of Cheal-2 and the drilling of a
third appraisal /exploration well in the field area are scheduled for
early 2004, with field production targeted for mid 2004.

c) The Cardiff structure
The Cardiff-1 well, drilled in 1991, flowed gas on test at that time
from the Kapuni sandstones below 4,000m (~13,000 feet). Modern
drilling, testing and completion technologies should have good
potential to enable production of the gas in reservoir in the Cardiff
structure at commercial rates. A Cardiff-2 appraisal well, located
adjacent to Cardiff-1, is planned for 2004, subject to an appropriate
level of third party funding. Indications of interest have been
received from several qualifying third parties.

2) Shallow Oil Exploration Projects
The Kaimata 3D seismic survey was acquired in onshore Taranaki by
Indo-Pacific for a number of participants in early 2003. This has
enabled identification of a number of targets of similar type to
Indo-Pacific`s 2001 Goldie oil discovery and to the Ngatoro oil pools.
Indo plans to drill three of these targets during 2004. A similar
target identified outside the 3D area may also be drilled during the
year. The wells are typically 5,000-6,000 feet deep and can be
cost-effectively drilled using the SPDL rig employed on the Company`s
previous two wells. Oil pools of this type are typically in the 0.5-2
million barrel range, and successful discovery wells typically
commence production in the range 200-700 barrels per day. The existing
infrastructure, the high value of the typically light sweet crude, and
the low royalty payable on such production, enable high operating
profits per barrel.

3) Deep gas exploration
In addition to the Cardiff structure, Indo-Pacific holds interests in
several other permits containing deep gas targets. Despite the early
discovery of the giant Kapuni gas field, the deep gas potential of
onshore Taranaki basin remains under-explored because of the
historically low gas market prices and the past dominance of the
offshore Maui field in the gas market. However, the decline of Maui
coupled with the rising demand for gas for use in electricity
generation, has created a gas supply-demand squeeze in New Zealand,
resulting in strong market demand and rising market prices for new
gas. This provides a stimulus to deep gas drilling. The Company holds
permit rights over Cardiff, Waitoriki, Onaero North and Akama deep gas
targets in its onshore Taranaki permits, and the Orca Prospect in its
offshore Taranaki permit. Subject to third party participation, the
Company intends to pursue drilling of such targets in the next two
years. An offshore drilling rig will be operating in New Zealand
waters in 2004, which may provide an opportunity to drill the Orca
Prospect.

4) Longer term `High Risk-High Return` Prospects
Indo-Pacific also holds permits in Papua New Guinea, offshore
Northwest Australia and in the Canterbury Basin in New Zealand`s South
Island. These all contain large prospects which are ready to drill,
but are expensive tests of `high risk-high return` targets. The
Company`s approach on such targets is to offer a significant
percentage of equity in that permit area to third parties which fund
drilling. Targets in this category include prospects Douglas, Kamu and
Maipe in Papua New Guinea, prospects Dorado, Ursa and Rossini in
offshore Northwest Australia and prospects Corvette, Schooner and
Frigate in the Canterbury Basin.

Indo-Pacific has assembled a balanced portfolio of near term
production projects, development projects, lower risk, near-term
drilling; and higher risk and return longer-term projects. Equity
farm-outs to fund capital intensive exploration projects, and
appropriate levels of debt financing of revenue projects, will
continue to be preferred elements of the company`s exploration and
development plans.

This release includes certain statements that may be deemed
"forward-looking statements." All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking statements. Although
Indo-Pacific believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include oil and gas prices, exploitation and exploration successes,
continued availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such statements are
not guarantees of future performance and that actual results or developments
may differ materially from those projected in the forward-looking statements.

CONTACT: Investor Relations, Sorensen Group, 1-800-304-3631, or
[phone], or [e-mail] .



José

[JosedelaVega]

akt. Kurs: 1,45 US Dollar


Indo-Pacific Energy Announces Successful Capital Raising
Tuesday December 16, 10:43 pm ET


WELLINGTON, New Zealand, Dec. 16 /PRNewswire-FirstCall/ -- Indo-Pacific Energy Ltd. (OTC Bulletin Board: INDOF - News) today announced the successful completion of its New Zealand capital raising. McDouall Stuart Securities Limited, the lead Manager and organising NZX firm, has advised that the issue was oversubscribed with strong demand from both private and institutional investors.
The company raised approximately US$5.1million (NZ$8 million) offering 4 million shares at the issue price of NZ$2.00 per share. In addition, for every two shares offered, investors will receive one warrant, exercisable at a price of NZ$2.10 at any time up to one year after issue.

Chairman David Newman said, "The level of investor interest is a vote of confidence in the company`s upcoming onshore Taranaki drilling and production programme. We are pleased to welcome New Zealand investors to our company and look forward to implementing the coming year`s activities."

Indo-Pacific has identified a two year timeframe for drilling up to 10 wells, expected to include at least four wells in the first year and up to six wells in year two. The company expects to have an average 30 per cent participation in each well.

The company anticipates it will begin trading on the New Zealand Stock Market (NZSX) in early January, 2004 following listing on the Toronto Venture Exchange (TSXV). The TSXV listing has been delayed until after a special shareholders meeting on 31 December 2003, where the company will change its name to `Austral Pacific Energy Ltd.` The name change is necessary in order to eliminate an existing confusion with a similarly named Canadian company.

Approximately 500 New Zealand private investors and three institutions participated in the capital raising. They will join Indo-Pacific`s current shareholders, who number around 7000 and are mainly based in North America. The allotment of securities will occur after Indo-Pacific lists on the TSXV and the company will be writing to acknowledge receipt of applications to all applicants this week.

"The company is now well-funded to carry out its exploration programme," Mr. Newman said. "We are confident of our abilities as a proven oil and gas exploration company, and look forward to delivering value to our current and new investors over the coming years."

This is not an offer of securities for sale in the United States. Neither the prospectus offering nor the convertible notes will be registered under the United States Securities Act of 1933 and, in the absence of such registration or an applicable exemption, may not be offered or sold in the United States. The securities sold under both offerings will be subject to a minimum four month resale restriction in Canada and a minimum 40 day resale restriction in the United States for the prospectus units and one year for the note units.


José

[JosedelaVega]

Indo-Pacific Energy Announces Name Change to Austral Pacific Energy Ltd. and Listings in Canada and New Zealand
Thursday January 1, 2:24 am ET


WELLINGTON, New Zealand, Jan. 1 /PRNewswire-FirstCall/-- Austral Pacific Energy Ltd. (TSXV and NZSX: APX; OTCBB: INDOF), formerly Indo-Pacific Energy Ltd., announces its new name, Austral Pacific Energy Ltd., and trading symbol, APX.
ADVERTISEMENT


At the Special Meeting of Shareholders on 31 December in Vancouver, the new name and trading symbol for the TSX Venture Exchange (TSXV) (part of the Toronto Stock Exchange or TSX group) and the Wellington based New Zealand Stock Exchange (NZSX) was adopted.

Shareholders also ratified updated corporate by-laws for the Company to enable electronic voting of proxies, use of electronic or paperless shares, removal of Chairman`s casting vote and removal of the obligation of the Chief Executive Officer to also be a director.

The Company`s shares will begin trading on the TSXV on 2nd January and on the NZSX on 5th January under the common symbol APX. They remain trading on the OTCBB.

The name change is necessary to remove confusion with a similarly named TSXV listed company.

Chairman David Newman said, "We are delighted to see the New Year in, with a well funded Company, trading on prestigious stock exchanges in both hemispheres, which will enhance liquidity for shareholders and raise the profile of our company. We expect an eventful year with an active drilling programme."

The shares and warrants to be issued under the New Zealand public offer will be allotted on 5 January 2004 and quoted on NZSX from that date (symbol APX). These shares are not transferable through the TSXV or to Canadians for 4 months, nor through the OTCBB or to US persons for 40 days after allotment.

The newly issued warrants will not be quoted on the TSXV and are subject to exercise and resale restrictions in Canada and the United States similar to the shares. The expiry date of the warrants (now 5 January 2005) has been extended from the originally proposed date of 30 November 2004, to reflect the actual date of their issue.

The Company will also close the Share Exchange Agreements it executed in November 2003, by issuing approximately 1.1 million shares and half-warrants to those New Zealand investors who invested in the company`s New Zealand subsidiary in June 2003. These shares and warrants will also be allotted on 5 January 2004. They are not transferable or tradeable for 4 months after allotment. The shares may be traded on the NZSX and TSXV after that hold period has expired. Unlike the warrants issued in the New Zealand public offer, the warrants attached to these shares will not be listed, but may be transferred subject to compliance with certain conditions after the hold period has expired. These warrants also expire on 5 January 2005.

Contact: Investor Relations: 1-800-304-3631, or [phone], or [e-mail]; Web site: http://www.Austral-Pacific.com

None of the securities referred to herein have been registered under the United States Securities Act of 1933 and except in compliance with the requirements of this law may not be offered for sale in the United States or to a US person. This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although Indo-Pacific believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.



José

[JosedelaVega]

+ 10 % aktuell 1,55 US Dollar

1,55 zu 1,65 US Dollar

José

[JosedelaVega]

1,65 zu 1,75

Kurs: 1,65 + 18 %

José

[JosedelaVega]

1,68 zu 1,75 US Dollar

meine Güte heute ist aber was los

José

[JosedelaVega]

2 US Dollar

+ 42 %

José

[JosedelaVega]

na die Entwicklung ist doch wirklich erfreulich:

2,20 zu 2,35 US Dollar inzwischen

José

[JosedelaVega]

2.40 + 0.35 or + 17.07%

na das gefällt doch



hier die letzten NEWS:

29 March 2004, 02:01am ET
WELLINGTON, New Zealand, March 29 /CNW/ -- Austral
Pacific Energy Ltd. (TSXV: APX; OTCBB: APXYF; NZSX: APX).
Austral Pacific Energy Ltd announces that Cheal-A3X well will commenc edrilling on or about April 8, and will take two weeks to reach its target depth of 1700m (5,600 feet). The well will test the Mt Messenger sands within
the Cheal structure, and will also intersect the shallower Cheal oil and gas pay sands at a location updip and north of the existing two Cheal wells. The
Cheal structure has been mapped as potentially covering an area of up to eight sq km (2,000 acres), and Cheal-A3X will play an important role in determining how development of the field will proceed.
The Honeysuckle-1 and Miromiro-1 exploration wells in onshore Taranaki will follow Cheal-A3X.
The Company also announces that it is securing inventory and permits for the drilling of the Cardiff-2 appraisal/development well. This well is planned
for Third Quarter, 2004; and will drill to 4,900m (16,000 feet) to test an extensive set of gas charged reservoirs encountered below 4,000m (13,000 feet)
in the Cardiff-1 well, drilled by Shell in 1990.
The Cardiff Prospect is the largest of several deep gas targets within Austral`s onshore Taranaki permits. Other targets now defined for drilling include the Onaero North and Waitoriki Prospects, with several further targets
requiring additional exploratory work before commitment to drilling. These deep gas targets all have the potential to significantly address NewZealand`s burgeoning energy problems and gas supply squeeze; which are the subject of ongoing and intense concern and debate within industry, media and political circles. The recent New Zealand Petroleum Conference and this week`s
National Power New Zealand conference are heavily focussed on this issue.


José

[JosedelaVega]

Press Release Source: Austral Pacific Energy Ltd.


Oil and Gas Company Austral Pacific Announces Cheal-A3X Progress and Release of 2003 Financial Results
Friday April 16, 7:45 pm ET


WELLINGTON, New Zealand, April 16 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (OTC Bulletin Board: APXYF; TSXV and NZSX: APX) advises that the Cheal-A3X well, which commenced drilling over the Easter weekend, is presently preparing to drill ahead in 6 1/8" hole; having set 7" casing to 400m (1312 feet) depth. The well will now be steered northwards to intersect its target, some 500m north of the Cheal-A wellsite; and is expected to reach its TD of 1725m (5,700 feet) vertical depth during the next week. Cheal-A3X will test the Mt Messenger sands within the Cheal structure, and will also intersect the shallower Cheal oil and gas pay sands. This well will be important in identifying the mode of development of the Cheal Field.
The Honeysuckle-1 well in PEP38741 (APX 30%, operator) will follow Cheal- A3X, using the same rig. The Miromiro-1 well in PEP38765 (APX 27.5%) will be drilled subsequently; to be followed by a first well to be drilled in PEP38748 (APX 25%).

NGC today advised they have received all planning consents for the Kahili separation plant, to be sited 4 km (2.5 miles) from the Kahili site, to which it will be linked by a pipeline carrying the raw gas stream from the Kahili- 1A/B well. A treated gas pipeline will link this plant to NGC`s LTS pipeline, hence to NGC`s Kapuni gas treatment plant for further processing. The Kahili joint venture parties (APX 45%, operator) will transport the associated condensates from the Kahili separation plant by road to the point of sale. Pipeline lay commenced in early March, and is now 60% complete, and earthworks have commenced at the Kahili plant site. The facilities are scheduled to be commissioned, and Kahili Field production to commence, at end June 2004.

The Company also today released its financial results (in US dollars) for fiscal year ending December 31, 2003. Net petroleum income was $52,110, down from $782,422 in 2002, in consequence of the Goldie-1 well being shut-in due to litigation. This was settled during the year, along with the sale of that property, resulting in an overall net income for the year of $47,616. General administration expenses were $656,216 (2002: $634,353). December 31, 2003 working capital of $1.77 million was unchanged from 2002.

The Company received $5.2 million proceeds from its public share float in New Zealand immediately after year-end.

CEO Dave Bennett commented "2003 was a year of transition as the Company settled its litigation challenges, recapitalized and positioned itself for an exciting 2004 drilling program".

The audited financial statements will be posted in their entirety on the Company`s website, Canadian regulatory site www.sedar.com, the New Zealand NZSX MAP platform www.nzx.com/market and the US SEC site www.sec.gov.

CONTACT: Investor Relations: tel: [phone] (USA/Canada) or
[phone] (New Zealand)
Web site: http://www.austral-pacific.com
Email: [e-mail]


This release includes certain statements that may be deemed "forward- looking statements". All statements in this release that address future production, reserve potential or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

[JosedelaVega]

Press Release Source: Austral Pacific Energy Ltd.


Oil and Gas Explorer Austral Pacific Updates Cheal-A3X Progress
Tuesday April 27, 10:18 pm ET


WELLINGTON, New Zealand, April 27 /PRNewswire/ -- Austral Pacific Energy Ltd. (TSXV and NZSX: APX; OTCBB: APXYF) advises that during the last 24 hours, the Cheal-A3X well has intersected sandstones equivalent to those which flow oil and gas in the adjacent Cheal-1 well.
Oil and gas shows have been observed over approximately a 40m (120 feet) interval of Cheal-A3X.

These appear to compare favourably with those observed over a shorter interval corresponding to the established pay sands interval in Cheal-1; and were encountered at a depth some 20m (60 feet) shallower than in Cheal-1.

The significance of these shows cannot be assessed until electric logs are run in the well, after it reaches its target depth at 1900m (6,200 feet) along hole. At the present time, the down-hole drilling assembly is being changed, in preparation for drilling ahead to the Mt Messenger target, which is expected to lie 2-300m (600 feet) below present depth of 1500m (5,000 feet) along hole.

Assuming drilling progress proceeds as expected, electric logs will be run this coming weekend. Average flows of 50 barrels of oil and 0.5 million cubic feet of gas per day were achieved from Cheal-1 during a one month production test in October/November 2003.

CONTACT: Investor Relations: tel: [phone] (USA/Canada)
[phone] (New Zealand)
Web site: http://www.austral-pacific.com
Email: [e-mail]


This release includes certain statements that may be deemed "forward- looking statements". All statements in this release that address future production, reserve potential or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.




--------------------------------------------------------------------------------
Source: Austral Pacific Energy Ltd.

[JosedelaVega]

Austral Pacific Reports First Quarter Results
Thursday June 10, 7:40 pm ET
Increased Assets, Cash and Stockholders Equity


WELLINGTON, New Zealand, June 10 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (OTC Bulletin Board: APXYF; TSXV and NZSX: APX) releases its unaudited operating results for the quarter ended March 31, 2004. The full text is at www.austral-pacific.com
On the balance sheet, the Company reported an increase of 79% in total assets, which are US$17 million at March 31, 2004, compared to US$9.46 million for the quarter ended March 31, 2003. Cash and cash equivalents for the first quarter 2004 totalled US$7.8 million, an increase of over 1000% as compared to US$0.631 million in the corresponding quarter of 2003.

Austral Pacific received US$5.2 million in proceeds from a public offering completed in New Zealand at the beginning of the first quarter 2004. Total stockholders` equity for the quarter ended March 31, 2004 increased to US$15 million from $8.98 million or up 67% from the same period in 2003. A net operating loss of ($264,017) for the quarter is 38% less than the same quarter in 2003.

CEO Dave Bennett comments, "While operating results are important indicators, they don`t always tell the whole story. Oil and gas companies typically incur the bulk of expenditures during the start-up exploration and development phases, such as we are in at present. However, we have significant cash and equity to support our activities and are very pleased with recent drilling results. These are expected to lead the Company into a production phase which will significantly enhance financial performance."

In other news, Austral reports that production testing operations commence today on the Cheal-A3X well, starting with the deeper pay interval. Progress updates will be available on the Company`s website during the initial two month testing phase.

Linkup of the Kahili wellhead to NGC`s pipeline, and construction of the treatment station is well advanced, with production scheduled to start in August.

Seismic surveys were successfully completed last month over the northern Kahili area (PEP 38736) and within PEP38716, south of the Waihapa oil field, to identify future drilling targets. A further feature, the Angus Prospect, has now been mapped on the Tariki-Kahili production trend, a few miles north of Kahili.

This release includes certain statements that may be deemed "forward-looking statements." All statements in this release that address future production, reserve potential or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

CONTACT:

Investor Relations: tel: [phone] USA/Canada
[phone] New Zealand
Web site: www.austral-pacific.com
Email: [e-mail]

[JosedelaVega]

Kurs: 2,20 US

Shares (Millions)
14.116
Market Cap (Millions)
31.055


Austral Pacific awarded Two New Permits




Wellington, New Zealand - September 7, 2004 --/PRNewswire/-- Austral Pacific Energy Ltd. (TSXV and NZSX: APX; OTCBB: APXYF).

Austral Pacific Energy Ltd. announces that it has been awarded a new Petroleum Exploration Permit - PEP 38492; and a Petroleum Mining Permit - PMP 38153; both situated in New Zealand`s Taranaki Basin.

PEP 38492 is awarded in its entirety to two wholly owned subsidiary companies of Austral Pacific, and covers an offshore area of 69 sq km (27 sq miles) abutting the southern coastline of the Taranaki Peninsula. Its southern boundary abuts PML 38146, within which are located the Kupe South gas-condensate field, now under development, and the Toru-1 gas-condensate discovery. The giant onshore Kapuni Field, which has already produced well in excess of 1,000 BCF of gas, lies onshore a short distance due north of PEP 38492`s northern boundary at the coastline. The Toru-1 discovery, made in 1990, is situated 2,000m (~1 mile) south of PEP 38492; and flow-tested on a 1/2" choke at a rate of 11.7 million cubic feet per day of gas, with an associated condensate (light oil) rate of 842 barrels per day. All of the Kapuni, Kupe South and Toru fields produce hydrocarbons from traps situated on a deep arch which runs from south to north passing beneath PEP 38492. A potential trap on this arch, the Hawera Lead, has been previously identified, but requires confirmation that it closes in the vicinity of the coastline. Over the next two years, Austral Pacific will remap the existing seismic and acquire a minimum of 15 km (9 miles) of new seismic, in order to verify the trap. Should this be established, a well would be drilled to test this target within PEP 38492. A discovery could be readily tied to the Kapuni Production Station, hence into the national pipeline grid; in a manner similar to that of the Company`s Kahili Field.

Production Mining Permit PMP 38153 has been granted to Austral Pacific (45%) and its partners Tap Oil (30%) and IRM (25%), effective 1 September 2004 for a 15 year term. It covers an area of 6 sq km (2.4 sq miles) of onshore Taranaki, incorporating the mapped extent of the Kahili gas-condensate field; and provides the legal right to produce that field under the terms of the permit. PMP 38153 has been excised from the larger area of Petroleum Exploration Permit PEP 38736, also operated by Austral Pacific, in which there is further discovery potential which Austral will be addressing with seismic acquisition in the near future. Kahili-1A/B is presently producing at a rate of approximately 3.5 million cubic feet of gas and 100 barrels of condensate per day. After several months of production, a decision will be made regarding the drilling of a Kahili-2 production well into the field.

Elsewhere, the Cardiff well-site construction is proceeding steadily, and inventory has been ordered for the Cheal-A3X completion and the Cheal-4 well, which are planned for October.

[JosedelaVega]

und weiter geht es:

2.628
+0.437

+ 20 % !!!!!!!!


José

[JosedelaVega]

2,80 US Dollar

José

[JosedelaVega]

ach wie schön

+ 7 %

auf nun 3,50 US Dollar

José

[JosedelaVega]

Press Release Source: Austral Pacific Energy Ltd.


Austral Reports on Current Drilling and Production Operations
Friday November 12, 4:28 pm ET


WELLINGTON, New Zealand, Nov. 12 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (TSXV and NZSX: APX; OTCBB: APXYF).
The PEP 38748 joint venture (Austral 25% equity) is now preparing the Hihi-1A sidetrack drilling operation, scheduled to take approximately 10 days to complete. The Hihi-1 vertical well was deepened beyond its unsuccessful upper target to test for reservoir quality sandstones at the lower Mt Messenger level. Austral had previously mapped and identified the Jersey Prospect at this lower level, but offset approximately 600m / 2,000 feet northeast of the surface location of the well. Hihi-1 intersected a 15m / 50 feet interval of reservoir quality sandstones in the lower Mt Messenger, which also contained sufficient hydrocarbon indications to justify drilling the Hihi-1A sidetrack to intersect this same reservoir target at a high point on the Jersey trap.

Production testing of the Cheal-4 well is now scheduled to commence November 18. The initial test program is planned for two months on the two identified pay zones. Cheal-3 will also be put on resumed production test at some stage in this period.

Drilling of Cardiff-2 is proceeding on schedule and within budget, with the well now beyond 2450m / 8,200 feet, and expected to reach top of the Kapuni objective by end of the month; although it will be towards end December before the well has reached its TD and is ready for testing.

The Kahili-1A well continues to under-perform its expected production profile, despite its initial good performance. Gas rates are now typically around 500,000 cubic feet per day, and the well is being cycled to assist lifting condensate, which is loading down the well. Independent consultant analysis is that the well is depleting a fault bounded compartment low on the southern end of the field, with connection to the larger volume of the field to the north having become limited. However, a just completed mapping of the Kahili field by the company`s consultants, which has incorporated for the first time the recently acquired and processed seismic, has resulted in an increase in the volumetric estimate of the total gas reservoir by approximately 50%. This gives a good match with the original estimates of field reserves derived from reservoir engineering analysis of the original flow test data.

The remapping has also identified the possibility that an additional fault compartment at the crest of the Kahili structure, might hold several times as much gas as the present field volume; in like manner to the Tariki gas- condensate field immediately south along trend. The Company is now investigating the alternatives for accessing the predicted larger volume of the field. A Kahili-2 well might intersect the field more than 100m / 300 feet higher on the structure than Kahili-1B. Alternatively, the field may be accessed from the existing Kahili-1A well-bore via a deviated or lateral drilling operation.

Austral Pacific`s Third Quarter report will be released next week.

CONTACT: Investor Relations: tel: [phone] USA/Canada
[phone] New Zealand
Web site: www.austral-pacific.com
Email: [e-mail]


This release includes certain statements that may be deemed "forward- looking statements." All statements in this release that address future production, reserve potential or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

[JosedelaVega]

Austral Reports Thanksgiving Day Progress
Thursday November 25, 6:04 pm ET

WELLINGTON, New Zealand, Nov. 25 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (TSXV and NZSX: APX; OTC Bulletin Board: APXYF).
Production testing operations have commenced on the Cheal-A4 well (Austral 36.5%, operator). Early flow results are positive, with the well exhibiting good pressure and temperature at surface and producing oil at un-stabilized rates in the hundreds of barrels per day range. CEO Dave Bennett commented `We are pleased at how readily Cheal-A4 has come on stream, although flows are yet to establish stable levels. We will make further announcements in the next few days, as a pattern of stabilized flow emerges."

This initial production test of the Mt Messenger pay sands will continue for a month, before switching to the shallower Urenui pay sands, which will be tested separately and together with the Mt Messenger pay. Pressure gauges have been placed down-hole in Cheal-A3X to monitor reservoir response during Cheal-A4 flow.

The Cardiff-2 well (Austral 25.1%, operator) continues to make steady progress in 12 1/4" hole, being presently at a depth of 3577m (11,735 feet). The labor dispute which delayed the well over the latter part of last week has been settled, and an agreement has been ratified between the drilling companies and the rig workers union which fixes employment conditions for the next 18 months. Next casing point in Cardiff-2 is planned near 4,000m (13,000 feet), and should be reached by end November. The objective Kapuni Sands will be intersected below this depth, all the way to the planned 4,900m Target Depth.

The Miromiro-1 well (Austral 27.5%) is scheduled to commence in early December, and take approximately two weeks to reach its 1930m (6,400 feet) Target Depth.

Several investor presentations will be made over the coming two weeks, in Boca Raton, Palm Beach and New York on December 1, 2 &3; and in Beverley Hills and San Diego on December 9 & 10.

This release includes certain statements that may be deemed "forward- looking statements." All statements in this release that address future production, reserve potential or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

CONTACT: Investor Relations of Austral Pacific Energy Ltd.: USA and Canada, [phone], or New Zealand, [phone], or email: [e-mail].

[JosedelaVega]

so jetzt ist Austral auch an der AMEX

Kurs: 3,30 US

José

[JosedelaVega]

Austral Arranges US$10 Million Financing
Tuesday September 27, 8:15 am ET

WELLINGTON, New Zealand, Sept. 27 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (TSXV and NZSX: APX; AMEX: AEN)
Austral Pacific Energy Ltd announces that the Company has finalized a private placement of 4 million equity Units to accredited investors in North America and New Zealand. Each Unit is priced at US$2.50 and consists of one common share and one-half of one share purchase warrant. Two half-warrants (one whole warrant) plus US$3.50 are needed to purchase an additional common share for one year from completion of the financing, which is expected to occur in approximately 14 days.


The warrants are subject to a 30 day accelerated expiry at the Company`s option if Austral shares trade over US$4.50 on AMEX for 10 consecutive trading days during the last eight months of the 12 month term of the warrants. All shares issued, including any shares issued on exercise of the warrants, bear a legend restricting transfer for four months from closing in Canada and New Zealand with longer resale restrictions applicable within the United States. Austral paid a standard commission to certain registered dealers in connection with the placement.

The placement was oversubscribed, with New Zealand investors being scaled down to achieve the $10 million limit. The major subscriber is Infratil Limited, a New Zealand listed specialist investor in infrastructure and utility assets, and a long term investor in the energy and transport sectors in New Zealand and Europe. With this placement, Infratil (via its subsidiary Infratil Gas Limited) will hold approximately 11% of Austral`s issued capital.

The financing proceeds will be used for ongoing exploration activities and working capital requirements. The placement currently remains subject to stock exchange approvals, which are expected in the ordinary course.

TSX Venture Exchange has neither approved nor disapproved the contents hereof. This release includes certain statements that may be deemed "forward- looking statements". All statements in this release that address future production, reserve potential or exploration drilling, are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

CONTACT: Investor Relations, [phone] ext. 2, or [e-mail].