Indo-Pacific Energy Limited
Registered Office Address
284 Karori Road
Karori
Wellington
Directors
BENNETT, David John
MCDONALD, David
History
Incorporated: 04-MAY-2001
Major Shareholders
Major Assets
Gondwana Energy (NZ) Ltd
Ngatoro Energy Ltd
PEP 38716 Ltd
Website
www.indopacific.com
News
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
31 January 2002 - NZUM
Flow-test results are expected by the weekend after Indo-Pacific discovered signs of oil in
one of their Taranaki wells, Kahili-1.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Vancouver, British Columbia � January 3, 2002-- /PRNewswire/-- Trans-Orient Petroleum Ltd.
announced today that it has agreed to terminate certain royalty rights over exploration
permits held by Indo-Pacific Energy Ltd. (OTCBB: INDOF). In return, Indo-Pacific has agreed
to amend the terms of certain warrants received by Trans-Orient on March 29, 2000 at the time
these petroleum prospect interests were sold by it to Indo-Pacific.
Under the terms of the agreement the Series "A" warrants entitling Trans-Orient to acquire an
additional 836,845 shares of Indo-Pacific have been extended to December 31, 2003 and the
exercise price has been reduced to $1.25 per share up to December 31, 2002 and $1.40
thereafter.
The Series �B� warrants which come into effect in the event a commercial discovery occurs in
any of the permits and licenses, Indo-Pacific will issue Trans-Orient additional warrants to
acquire shares equal to the number of Series "A" warrants exercised. These warrants will
expire on December 31, 2003 in conjunction with the Series �A� warrants and the new exercise
price is $2.50 per share.
The amendments were agreed upon to provide Trans Orient with increased near term equity
exposure to Indo-Pacific while providing Indo-Pacific with long term relief from royalty
burdens in order to make the properties more attractive to potential third parties.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
November 28, 2001 - Indo-Pacific Energy Activity Update
Indo-Pacific Energy Ltd. (INDOF) advises that Century Drilling Ltd�s Rig #2 is now being set
up on the Kahili-1 site in onshore Taranaki Basin, New Zealand. Drilling on the Kahili
Prospect is expected to begin within the next two weeks. Indo-Pacific will operate this well
and presently holds 100% equity in this prospect and the associated permit area PEP 38736;
but may reduce this equity by farmout to third parties prior to commencement of drilling.
In a separate drilling program, third parties will shortly commence drilling of Makino-1
adjacent to Indo-Pacific�s PEP 38716 permit area ( INDOF : 23.8%) to test a structure which
extends into PEP38716. Both wells are expected to reach their main objectives early in the
New Year.
The Company advises that it does not currently intend to proceed with either the financing or
alternative stock exchange listing under the authority granted to the Board at the AGM in
June this year, although the potential for share placements to third parties at appropriate
times will continue to be reviewed. The Board has also decided that 1,176,000 outstanding
options shall be repriced to $1.25, representing a 20% premium above current market. The
associated multi-year vesting provisions on these options remain unaltered.
David Bennett : Chief Executive Officer
CONTACT: Investor Relations, Indo-Pacific Energy Ltd. tel: 1 866 999 4639
Web site: http://www.indopacific.com Email: [email protected]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~