Austral Pacific Energy Ltd. Company News

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Austral Pacific Files 2008 Annual Results
New Zealand-based exploration and production company, Austral Pacific Energy Ltd. has filed its annual audited financial statements for the year ended December 31, 2008.
8:00 PM EST | March 25, 2009
Austral Pacific Revises NZ Reserves Estimates
Austral Pacific has revised its reserves estimates in New Zealand, in the process of preparing its annual reserves report.
7:00 PM EST | February 15, 2009
Malvern, Onaero 2D Seismic Surveys Completed
Austral Pacific noted that seismic acquisition for the Malvern and Onaero 2D seismic surveys has been completed.
7:00 PM EST | November 30, 2008
NZ's Austral Pacific Energy Reports 3Q Net Revenue at $3.14MM
Austral Pacific Energy reported net revenue in the third quarter at $3.14 million, compared to $2.14 million in the same quarter of 2007.
7:00 PM EST | November 13, 2008
Austral Pacific to Kick Off 2 Seismic Surveys Offshore & Onshore NZ
Austral Pacific announced that two seismic surveys included in this year's work program will commence this month offshore and onshore New Zealand.
7:00 PM EST | November 10, 2008
Austral Pacific Puts Cheal A7 On Stream
Austral Pacific announceed that the Cheal A7 well, which is capable of a maximum flow rate in the range of 250-280 bopd, commenced production on Saturday August 30, 2008.
8:00 PM EST | September 01, 2008
Austral Pacific Cites Increased Revenues, Positive Operating Results
Austral Pacific has announced $2.78 million in net revenue in the second quarter representing a 123 percent increase in net revenue over the 1st quarter results.
8:00 PM EST | August 14, 2008
Rift Completes Agreement with Austral Pacific, Issues Company Update
Rift Oil has released an update on its various drilling and operational interests, as well as finalizing a settlement with Austral Pacific concerning the termination of a previous agreement between the firms.
8:00 PM EST | June 25, 2008
Austral Closes Placement Shares Totaling over $5MM
Austral Pacific Energy has completed the placement of 11,222,360 common shares with attached half-warrants for total proceeds of $5,611,180.
8:00 PM EST | June 25, 2008
Austral Pacific Raises Money to Fund Future Drilling
The funds will be used to fund the Company's current and future drilling programs and other working capital. Results from the Cheal A6 well are expected in the next week to ten days.
8:00 PM EST | June 19, 2008
Austral Pacific Begins Drilling on Cheal Well A6
Austral Pacific announced the commencement of drilling operations on its Cheal well A6, which is expected to require two weeks. In other news, Ron Bertuzzi, Austral Pacific's longest-standing board member, is retiring.
8:00 PM EST | June 10, 2008
Austral Pacific to De-List from AMEX
The New Zealand-based exploration and production company, Austral Pacific Energy Ltd. has begun the process to de-list from the American Stock Exchange (AMEX).
8:00 PM EST | June 05, 2008
Austral Pacific, AWE Team Up on PEP 38524, Offshore Tasman Bay
Austral Pacific Energy has farmed down an 80% interest in PEP 38524, offshore Tasman Bay, to AWE. AWE has undertaken to fully fund acquisition of some 350km of 2D seismic within the permit.
8:00 PM EST | June 03, 2008
Austral Pacific Set to Drill Two Wells in Cheal Oil Field
Austral Pacific Energy is set to commence drilling of the A6 and A7 wells in the onshore Taranaki Cheal Oil Field, the same field currently generating substantial revenue for the Cheal Joint Venture. (PMP38156-01), Stratford, New Zealand
8:00 PM EST | May 26, 2008
Austral Pacific Sells PNG Exploration Licenses to Rift
Austral Pacific Energy Ltd. has sold its interests in Petroleum Prospecting Licenses 235 and 261 in Papua New Guinea in an effort to reduce company debt and to support further drilling ventures.
8:00 PM EST | May 26, 2008
Austral Pacific Releases Q1 Results and Looks to the Future
Austral Pacific Energy Ltd. Chief executive Thom Jewell said the company recorded a loss of $6,567,884 for the quarter ending March 31, 2008.
8:00 PM EST | May 13, 2008
Austral Pacific: Can't Believe Everything You Read
Austral Pacific says reports that it is in financial difficulty are misleading, and although the company has, as acknowledged in its financial statements, short term liquidity issues, it is executing a plan to manage the cash flow challenge.
8:00 PM EST | April 07, 2008
TAG Oil Increases Cheal Reserves
TAG Oil announced that an independent reserve evaluation prepared for Austral Pacific Energy Ltd., the operator of the Cheal oil field in New Zealand (TAG 30.5%), reports a significant increase in Net Present Value discounted at 10%.
8:00 PM EST | April 02, 2008
Austral Exits PNG LNG Venture
The Company plans to use the proceeds of sale to accelerate loan repayments under the Company's debt facility with Investec.
8:00 PM EST | March 25, 2008
Austral Pacific: Cardiff Well Testing Moves to Shut-In
Austral Pacific Energy reported that following on from the successful rig workover to isolate the K3E formation, testing operations commenced on Cardiff 2A ST-1 two weeks ago.
8:00 PM EST | March 10, 2008
Austral Pacific Appoints New Director
Austral Pacific Energy Ltd. has appointed Peter Hazledine of Wellington, New Zealand, as a new director of the company, effective from Jan. 1, 2008.
7:00 PM EST | December 23, 2007
Austral Pacific Arranges Financing for Cheal Field Development
Austral Pacific Energy Ltd. has signed agreements with a number of accredited investors to privately place 12,500,000 common shares with attached warrants, sold as units at $1.20 per unit.
7:00 PM EST | December 18, 2007
Austral Completes Tie-In of 3 Wells to Cheal-B
Austral Pacific Energy Ltd. has completed the tie-in of the B1, B2 and B3 wells into the Cheal Production Station on budget and ahead of schedule.
7:00 PM EST | December 10, 2007
Austral Pacific Increases Cardiff Stake
Austral Pacific has completed the purchase of all the shares of International Resource Management Corporation Limited. This strategic acquisition increases Austral Pacific's interest in the Cardiff gas condensate field to 44.9%.
7:00 PM EST | November 14, 2007
Cheal-A3X Production Well Temporarily Shut-in
The Cheal-A3X production well located at the main Cheal "A" site has been temporarily shut-in due to mechanical problems.
8:00 PM EST | November 01, 2007
New Cheal Production Station Opens in New Zealand
Austral Pacific opens its Cheal oil and gas production facility in Taranaki, New Zealand.
8:00 PM EST | October 14, 2007
Austral Pacific to Begin Papua New Guinea Appraisal Program
Austral Pacific Energy is due to begin appraisal work later this year on the Stanley gas field in Papua New Guinea.
8:00 PM EST | September 24, 2007
Cheal Production Station Complete and Operational
Austral Pacific Energy's Cheal Production Station is now online and exporting hydrocarbons to market.
8:00 PM EST | September 20, 2007
Austral Pacific Begins Testing at Cardiff Field
Austral Pacific Energy report that work on Cardiff 2AST1 is now underway.
8:00 PM EST | August 26, 2007
Austral Pacific Increases Interest in Cardiff Gas Field
In keeping with its strategies for growth, Austral Pacific Energy has signed an agreement to acquire all the shares of International Resource Management Corporation Limited.
8:00 PM EST | August 07, 2007
Austral Pacific Adds to Executive Team
Austral Pacific Energy is strengthening its executive team through the permanent appointment of two key executives.
8:00 PM EST | July 18, 2007
Austral Pacific Arranges $10 Million in Financing
Austral Pacific Energy has executed an agreement with an accredited investor to privately place, with two managed investment funds, under 7.7 million Series 1 preferred shares at a price of $1.30 per share for total financing proceeds of US$10m.
8:00 PM EST | July 05, 2007
Austral Pacific Completes $3.25M Financing
Austral Pacific Energy Ltd. late Tuesday said that it has now received all necessary regulatory approvals for the placement of 2.5 million common shares at $1.30 each and that it has now completed the placement.
8:00 PM EST | May 15, 2007
Austral Pacific to Spud Two More Cheal Wells
Wellington-based petroleum explorer Austral Pacific Energy Ltd plans to drill two additional production wells at its Cheal oil field in onshore Taranaki from June as soon as its newly constructed production station is commissioned.
8:00 PM EST | May 10, 2007
Austral Pacific Names New Senior Execs, Issues Cheal Update
Austral Pacific Energy Ltd. has appointed Thompson Jewell as its new Chief Executive Officer and Derek Gardner as Chief Financial Officer.
8:00 PM EST | April 25, 2007
Bennett to Succeed Smith as Tag Director
Tag Oil Ltd. has named David Bennett as a director of the company. To facilitate this appointment, Jim Smith has tendered his resignation.
8:00 PM EST | April 24, 2007
Austral Pacific Wins Southernmost Offshore Taranaki Permit
Wellington-based Austral Pacific Energy Ltd has been awarded the southern Taranaki Basin.
8:00 PM EST | March 29, 2007
Austral Pacific CEO Resigns
David Newman, Chairman of Austral Pacific Energy Ltd., announced that the Board had accepted the resignation of its Chief Executive Officer, Rick Webber, effective April 30, 2007.
8:00 PM EST | March 22, 2007
Austral Pacific Issues Cheal Update
Austral Pacific Energy Ltd. said that the initial 10-day production testing of the Cheal B3 well was completed on 5 February 2007.
7:00 PM EST | March 08, 2007
Austral Pacific Reports Taranaki Dry Hole
Austral Pacific Energy Ltd. said that the exploration well Ratanui-1 reached a total depth of 2120 meters (6955 feet) on Tuesday of this week. Wireline logging of the well was completed the following day.
7:00 PM EST | February 14, 2007
Austral Pacific Energy Encouraged by Cheal B4 Results
Cheal B4 is another encouraging result for the Cheal Joint Venture. The well confirms the existence of hydrocarbon charge outside the currently recognized limits of the field.
7:00 PM EST | December 21, 2006
Austral Pacific Secures Financing
Austral Pacific Energy Ltd reports that, through its wholly-owned subsidiary Austral Pacific Energy (NZ) Limited, it has secured a US$23 million loan facility and that it has completed the acquisition of Arrowhead Energy Limited.
7:00 PM EST | December 21, 2006
Rift Oil Successful in Acquisition of PPL 261 in Papua New Guinea
Rift Oil has received notification from the Government of Papua New Guinea that its application for PPL 261 (with Austral Pacific 50/50) was successful.
7:00 PM EST | December 20, 2006
Austral Pacific Reports Promising Cheal News
Austral Pacific Energy Ltd. announced that the Cheal B3 well reached a total depth of 1,927 meters (6,322 feet) on 27 November.
7:00 PM EST | November 29, 2006
Austral Pacific Completes Finance Deal for Arrowhead Acquisition
Further to Austral Pacific Energy Ltd.'s news release of October 17, 2006, the company confirms that it has now received all necessary regulatory approvals for the placement of 5 million common shares at $1.30 each.
7:00 PM EST | November 27, 2006
Trans-Orient Increases Investment in Austral Pacific Energy
Trans-Orient Petroleum has participated in a private placement to acquire an additional 1,395,000 common shares of Austral Pacific Energy Ltd. for total consideration of $1,813,500.
7:00 PM EST | November 20, 2006
TAG Oil Cases Cheal-B2 Well
Independent Canadian oil and gas exploration company TAG Oil Ltd. reported late Friday that the Cheal-B2 well located in PMP 38156-01 (TAG 30.5%) New Zealand, has reached a total depth of 1866m (6122').
7:00 PM EST | November 12, 2006
TAG Oil Cases Cheal-B1 Well
Independent Canadian oil and gas exploration company TAG Oil Ltd. announced that the Cheal-B1 well located in PMP 38156-01 (TAG 30.5%) New Zealand, has reached a total depth of 1863m (6112').
8:00 PM EST | October 24, 2006
Austral Pacific to Complete US$6.5 Million Financing
Austral Pacific Energy has executed agreements to privately place approximately 5.0 million common shares at a price of US$1.30 each to accredited investors in New Zealand and North America.
8:00 PM EST | October 18, 2006
Austral Pacific to Acquire New Zealand Minnow
Austral Pacific Energy has signed a heads of agreement to acquire all the shares of Arrowhead Energy Limited, a small, privately held, New Zealand oil and gas exploration and production company.
8:00 PM EST | October 11, 2006