Tui field reserves estimate increased

The initial proved and probable reserves for the Tui Area fields have been further increased from 47 to 50.1 MMbbl, following a detailed field re-assessment by the operator, according to development partner, Pan Pacific Petroleum.

Offshore staff

NORTH SYDNEY, Australia -- The initial proved and probable reserves for the Tui Area fields have been further increased from 47 to 50.1 MMbbl, following a detailed field re-assessment by the operator, according to development partner, Pan Pacific Petroleum.

Production for the financial year to June 30, 2009 is now forecast to be 9 MMbbl.

An additional development well is planned and near-field exploration wells are being considered for early 2010.

06/20/2008

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