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October 06, 2015 12:36 PM ET

Oil, Gas and Consumable Fuels

Company Overview of L&M Energy Limited

Company Overview

L&M Energy Limited engages in the exploration and development of oil, natural gas, and coal seam gas resources in New Zealand. It holds equity interests in approximately 8,000 square kilometers of exploration acreage across 5 basins in New Zealand. The company was formerly known as L&M Petroleum Limited and changed its name to L&M Energy Limited in January 2010. L&M Energy Limited is based in Wellington, New Zealand.

St John House

Level 9

114 The Terrace

PO Box 10-895


New Zealand


64 3 473 0415


64 3 473 0416

Key Executives for L&M Energy Limited

Chief Executive Officer, Managing Director, Executive Director and Member of Disclosure Committee
Chief Financial Officer, Company Secretary and Member of Disclosure Committee
Age: 55
Compensation as of Fiscal Year 2015.

L&M Energy Limited Key Developments

New Zealand Energy Extends Alton Permit for Second Five-year Term, Provides Update on Eltham and Castlepoint Permits

New Zealand Energy Corporation announced that it has received approval from New Zealand Petroleum & Minerals ("NZPAM") to extend the Alton Permit (Petroleum Exploration Permit 51151) for a second five-year term. NZEC owns a 65% interest and is operator of the Alton Permit, through its subsidiary Taranaki Ventures II Limited. NZEC is exploring the permit in a joint arrangement with L&M Energy Limited ("L&M"). NZEC and L&M have received NZPAM approval to extend the exploration term of the permit to September 23, 2018. Concurrent with the extension, NZEC and L&M have relinquished 50% of the Alton Permit. The new permit area comprises 59,565 acres (241.052 km(2)), bringing NZEC's Taranaki Basin portfolio to 159,864 net acres (646.9 km(2)). The joint venture partners also received an extension to their obligation to drill the Horoi commitment well, along with approval of a new work program for the Alton Permit. The new work program requires NZEC to drill two exploration wells, process 20 km(2) of 3D seismic and 20 line km of 2D seismic, and complete a number of technical studies and reports. NZEC plans to drill the first commitment well - the Horoi well - into a Mt. Messenger target commencing in late February 2014.

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