NZOG: Kisaran PSC operations update

(18 Februari 2013)--New Zealand Oil & Gas (NZOG) advises that as at 2.00 PM Friday ( NZT ), the following operations were completed at exploration well Pant Minyak-2 (PM-2), located in the Kisaran PSC in onshore Sumatra, Indonesia:

? The well has been drilled to 200 feet (61m),
? Casing set in preparation for next 1800 foot (549m) section,
? Currently waiting on replacement gearbox for spare mud pump.

Drilling began on 11 February and is expected to take around 43 days.

The well has an expected total depth of 9000 feet (2743M). The first of several drilling targets is a Pliocene Fan at approximately 5772 feet (1744M).

New Zealand Oil & Gas Ltd has a 22.5% stake in the joint venture through the share ownership of its subsidiary NZOG Asia Pty Ltd in Pacific Oil & Gas ( North Sumatera ) Ltd.

The Kisaran Joint Venture partners are Pacific Oil & Gas (Kisaran) Ltd (55 per cent and operator) and Pacific Oil & Gas (Sumatera) Inc. (22.5 per cent). (ends)