Widespread Energy recommences Kotuku exploration bore

New Zealand Exchange Limited
P.O. Box 2959
Wellington

13 April 2010

Dear Sir,

Widespread Energy recommences Kotuku exploration bore

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

Widespread 1A spudded on 16 March and after encountering persistent oil shows from 21m-90m, began to flow a small amount of gas from 90m depth.

Well control procedures were undertaken and the flow of gas was shut off while preparations were made to mobilise a coring rig to site in order to continue drilling to target depth.

That rig is now on site and setting up with drilling expected to commence within 24 hours.

The intention remains 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 determine the nature of any fluids contained within it.

For and on behalf of the Board,

Chris D Castle

Onekaka, 13 April 2010