Austral Pacific Completes $3.25M Financing

Further to its March 30, 2007, announcement, 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. All these shares have a restricted period in Canada until September 16, 2007. Proceeds will be used in connection with the Cheal field development and for working capital purposes.