Austral Pacific Energy Ltd. · Wellington New Zealand(New Zealand: APX)

Austral Pacific Energy (formerly Indo-Pacific Energy) is active in gas and oil exploration and production in the Pacific Rim countries of New Zealand and Papua New Guinea. The company focuses on New Zealand's Taranaki Basin, but other areas of operation are the D'Urville Sub-Basin on New Zealand's South Island and onshore Papua New Guinea. It is producing oil from the Cheal field in the Taranaki Basin (where it has proved and probable reserves of 2.9 million barrels of oil equivalent per day). The company holds more than a dozen exploration and production permits. Austral Pacific Energy was formed in 1979 by North American investors. To read the full description, subscribe now.