EXPRESSION OF INTEREST IN THE SUPPLY OF MEREENIE GAS

Friday 17th May 2024

Central Petroleum Limited, the Operator of New Zealand Oil & Gas Limited’s (NZO) Amadeus Assets (Mereenie, Palm Valley and Dingo) has issued the attached media release announcing an Expression of Interest (EOI) for the supply of gas from the Mereenie field.

The EOI is for the supply of up to 40TJ/d or 90PJ of gas (gross to the JV), for delivery from mid-2024 through until the end of 2030. NZO has a 17.5% interest in the Mereenie Joint Venture, Cue Energy Resources (Cue) has a 7.5% interest, CTP a 25% interest and Macquarie Mereenie a 50% interest.

As announced on 14 February 2024, NZO has agreed to purchase from Macquarie Mereenie a further 25% interest in the Mereenie licenses. From completion of that transaction, the participating interests will be: NZO 42.5%, Horizon Oil 25%, CTP 25% (Operator) and Cue 7.5%.

About New Zealand Oil & Gas Limited

New Zealand Oil & Gas Limited (NZX/ASX:NZO) is a nimble Australasia-focussed energy commodity exploration and production company, headquartered in Wellington, New Zealand. The company is committed to undertaking development and exploration activities that are ethical and values-based, and underpinned by quality relationships, skills and values. It also strives to deliver strong ESG standards that meet the benchmarks expected by communities and regulators.The company’s portfolio comprises a spread of wholly- and partly-owned onshore and offshore oil and gas assets, located in Australia, New Zealand and Indonesia. These stakes are held either directly by the company, or indirectly through its circa 50% stake in ASX-listed Cue Energy Resources Limited (ASX:CUE).New Zealand Oil & Gas’ team of experienced energy sector experts, along with those of its key partners, are now working together to explore and develop multiple assets on the company’s books. These activities have comprised multiple exploration programs that continue to validate prospectivity within New Zealand Oil & Gas’ asset portfolio. At the same time, the company along with its joint venture partners remain on the lookout for opportunities to acquire additional value-accretive producing and exploration assets.For further information please contact the Company on: email enquiries@nzog.com phone +64 4 495 2424

EXPRESSION OF INTEREST IN THE SUPPLY OF MEREENIE GAS

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