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Austral Pacific Energy shares trading under AEN symbol

Posted: 21 April 2005

The common shares of Austral Pacific Energy Ltd. commenced trading on the American Stock Exchange on April 18, 2005 under the symbol AEN.

Headquartered in Wellington, New Zealand, the company is an oil and gas exploration and production company incorporated in Canada. It is involved in the exploration for commercial quantities of hydrocarbons and, to a lesser extent, the development and production of hydrocarbons in the Austral Pacific region.

"We are delighted to welcome Austral Pacific Energy to the American Stock Exchange," said John McGonegal, senior vice president of the Amex Equities Group. "We look forward to working with Austral Pacific Energy Ltd. and providing them with the value-added resources a growing company needs to succeed in today's market."

David Bennett, President/CEO, commented, "Austral is pleased to be listed on the American Stock Exchange and looks forward to continuing our vigorous growth strategy for the Company through 2005 and beyond".

The specialist in Austral Pacific Energy will be Cohen Specialists as its specialist unit. It is also listed on the TSX-V: APX, and the New Zealand Stock Exchange

Chief Financial Officer Appointment

The Company's Board of Directors is also pleased to announce the appointment of Mr Bruce McGregor as the Company's new Chief Financial Officer, replacing Mr. Nigel Robinson who resigned to pursue other opportunities. Mr. McGregor is a member of both the Institute of Chartered Accountants and the Institute of Directors in New Zealand.

He is a New Zealand citizen and has worked in the New Zealand oil and gas industry since 1994 where he has held senior accounting and finance roles for substantial New Zealand corporations including Methanex and Fletcher Challenge Energy.

Mr. McGregor joins Austral from Shell where he oversaw the integration of the Fletcher Energy acquisition and the establishment of the financial systems and processes required as a result of the acquisition.

He has also been involved in several significant projects most recently leading the New Zealand Sarbanes Oxley project.

His various roles with these companies bring to Austral broad experience covering operational and commercial issues, balance sheet management, capital allocation processes, acquisitions and divestments, due diligence and strategic planning.

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