Austral Pacific Energy Ltd. (AUSPF.PK)

Austral Pacific Energy, Ltd., together with its subsidiaries, engages in the exploration, development, production, and acquisition of natural gas and petroleum interests in New Zealand and Papua New Guinea. The company also sells oil and gas from producing or pre-producing properties in which it holds an interest. As of December 31, 2006, it holds net interests equivalent to approximately 0.58 million acres of exploration and mining permits in New Zealand; and approximately 0.82 million acres of exploration and retention licenses in Papua New Guinea Austral Pacific Energy was founded in 1979. The company was formerly known as Pryme Energy Resources, Ltd. and changed its name to Indo-Pacific Energy, Ltd. Further, it changed its name to Austral Pacific Energy, Ltd. in 2003. The company is based in Wellington, New Zealand.

For the nine months ended 30 September 2006, Austral Pacific Energy Ltd.'s revenues decreased 69% to $376K. Net loss decreased 4% to $1.4M. Revenues reflect a decrease in Oil & Gas production. Net loss reflects a increase in interest income, a significant decrease in impairment of oil and gas properties, higher foreign exchange gains, a decrease in royalty expenses and a decrease in production cost .