Widespread Energy advises delay to Kotuku exploration bore

New Zealand Exchange Limited
P.O. Box 2959
Wellington

15 February 2010

Dear Sir,

Widespread Energy advises delay in Kotuku exploration bore

Widespread Energy is planning to drill a stratigraphic bore near the Kotuku oil seeps in its 100% held petroleum exploration permit (PEP 38526). 

The intention is to drill a 250m deep bore which will allow Widespread to confirm the shape of the Kotuku anticline, recover samples of the rock strata and the nature of any fluids contained within it.

The drill rig was expected to arrive on site on or about February 15, 2010 but due to unforeseen delays in completing another drilling project this is now not expected to occur until early March 2010.

For and on behalf of the Board,

Chris D Castle

Onekaka, 15 February 2010