New Zealand Oil & Gas Limited

Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) announces the voting results at the Special Meeting Of Shareholders.

Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) is making a renounceable pro rata rights issue (the Offer) to existing shareholders and optionholders of 45,454,545 million fully paid ordinary shares (New Shares). The Offer is to raise NZ$40 million (before offer expenses) and is fully underwritten.

Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) advises that applications for its NZ$10 million placement have been closed fully subscribed.

Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) has announced details of the implementation of its NZ$50 million equityraising package. The package features a NZ$10 million placement of shares and an underwritten NZ$40 million renounceable pro rata Rights Issue to shareholders and optionholders.

Pike River Coal Limited (NZE:PRC) (PINK:PKRRF) today announced; an intention to make an equity issue of ordinary shares to raise approximately NZ$50 million; A binding agreement with its major shareholder - New Zealand Oil & Gas Limited (NZOG); The grant of a two year option to NZOG to purchase Pike River coking coal at market prices negotiated annually.

Pike River Coal Limited (NZE:PRC)(PINK:PKRRF) rights issue of NZ$41 million announced on 3 March 2009 will be fully underwritten. The renounceable rights issue is an entitlement to one share at 70 cents with an accompanying bonus option for every five Pike River shares held. The bonus options have a two year term and can be exercised at NZ$1.25 each.

New Zealand Oil & Gas Ltd (ASX:NZO)(NZE:NZO) has been awarded a new exploration permit which lies to the west and south of the Kupe development in offshore Taranaki.

Yesterday the Australian stock market closed marginally higher despite a big lead from United States markets. The banking sector was pulled down by Commonwealth Bank as it tried to sell shares to institutional investors for A$2 billion capital raising. The benchmark S&P/ASX200 index had gained 14.4 points, or 0.4 per cent, to 3570.6 points, while the broader All Ordinaries index was up 16.1 points, or 0.46 per cent, at 3515.0 points. Commonwealth Bank's termination of the share placement and rising bad debts has hit the confidence of the banking sector.