OMV Plans to Plug and Abandon Moana 1

Operator OMV has advised Origin Energy that the Moana 1 exploration well in permit PEP 38485, offshore Taranaki Basin, New Zealand has reached a total depth of 3,674 meters. No significant hydrocarbon shows have been encountered in the primary reservoir and the well will be plugged and abandoned.

Interest holders in PEP 38485 are:

- Origin Energy Resources NZ Limited 33-1/3 %

- OMV New Zealand Limited (Operator) 33-1/3 %

- Todd Petroleum Mining Company Limited 33-1/3 %

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