Austral Pacific Energy Ltd.

Wellington, New Zealand-based Austral Pacific Energy Ltd. announced it will seek strategic alternatives to include asset sales or merger proposals. Austral CEO and President Thompson Jewell says, "In light of the low share price, Austral Pacific has initiated a strategic review to consider all options available to the company to maximise value for its shareholders." Austral Pacific has an interest in eight exploration and production permits totaling 500,000 acres in New Zealand. Primary assets are Cheal Field, Kahili Field and Cardiff Field onshore in the Taranaki Basin on the North Island. Australasian investment banking firm McDouall Stuart is advisor. Contact Brad Holmes, 713-304-6962.