Contract relinquishes Taranaki basin permit

Sept. 27, 2006
Exploration permit PEP 38493 offshore in Taranaki basin was relinquished by Contract Energy following analysis of seismic and other data.

Offshore staff

WELLINGTON, New Zealand -- Exploration permit PEP 38493 offshore in Taranaki basin was relinquished by Contract Energy following analysis of seismic and other data.

Contract analyzed existing seismic data and conducted its own seismic survey early this year and decided not to proceed with an exploration well.

9/27/06