The Canterbury round is the first of four planned bidding rounds in energy-strapped New Zealand over the next year. The government has recently announced public energy conservation programs in order to stave off the worsening energy crisis, while the bidding rounds are aimed at providing attractive opportunities for the increasing interest by international explorers in New Zealand.

The Canterbury round covers an area containing two existing offshore discoveries with test flow rates of up to 10 mmscf/d of gas and 2300 bbls/d of condensate.

The blocks have an existing and available seismic and well database; mapped prospects and leads; and amplitude anomalies. Structural and stratigraphic targets are located in and adjacent to a confirmed hydrocarbon kitchen area and on modelled migration pathways.

New Zealand is now the 13th most attractive country in the world for petroleum investment, according to the latest 2003 international survey by the IHS Energy Group. New Zealand's standing has risen from 36th place in 1999 to its current level.

The bidding round closes at 5.00 pm on May 30, 2003.