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Pohokura Flow Test Underway

Auckland, 13 June 2000 – Fletcher Challenge Energy today announced that testing has begun on the first of two planned Drill Stem Tests (DST-1 3614 metres to 3632 metres along hole) in the Pohokura-2 well.

The well was perforated at 10.00 am on Sunday June 11th and at 7am on Monday June 12th gas was flowing to surface. Following cleanup and stabilisation the well was shut in overnight and today has been opened up to conduct multi-rate flow tests. These tests will be followed by a 12 hour build-up test later today. The preliminary results of DST-1 should be available tomorrow.

“The testing is progressing to schedule. It is very early days and we will not have full results on this lower test zone for at least another 24 hours. However, the fact that we are seeing gas flow from this interval of poorer quality reservoir is encouraging,” said Mr Rick Webber, General Manager New Zealand for Fletcher Challenge Energy. “It should allow the inclusion of larger rock volumes in our reserves calculations”.

The Pohokura–1 well is operated by Fletcher Challenge Energy (33.3%) on behalf of the PEP 38459 Joint Venture comprising co-venturers Preussag Energie (33.3%), Shell Petroleum (Mining) (18.3%) and Todd Petroleum Mining (15%).

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