Perth Basin

Highlights Conditional acquisition of a further 25% interest in the Mereenie gas field, AmadeusBasin, NT, Australia Doubles Mereenie 2P Total reserves and increases NZO's net 2P Total Reserves by 41% Upfront payment of A$42.5m, to be adjusted for revenues and costs from 1 April 2023,and further contingent payments of up to A$9m 100% vendor debt facility of up to A$63m covers all purchase and transaction costs,with additional availability to fund development activity  

Highlights- 2P Total Reserves increase of 14% at Palm Valley to 2.1 million barrels of oil equivalent (mmboe), associated with the successful drilling and flow performance of the PV-12 well.- 2P Total Reserves increase of 13% at Dingo to 3.5mmboe, owing to ongoing strong performance from the wells and additional modelling work. 

New Zealand Oil Gas has rec eived new information from the Operator (Central Petroleum, ASX: CTP Operator of the Palm Valley and Dingo permits. Given the Company’s renounceable rights issue offer is currently open, we are sharing this information now, before matters have developed and before any decision s have been made.1 Key elements of the information received from Operator and known at present are as follows.

As previously announced, planning continues for the Q1 2022 Palm Valley and Dingo exploration well drilling program