ECHELON RESOURCES LIMITED — Director's Dealing 2021

Nov 22, 2021

==> picture [163 x 43] intentionally omitted <==

Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listed issuer:		New Zealand Oil& GasLimited
Date this disclosure made:		23-Nov-21
Date of last disclosure:		8-Oct-20
Director or senior manager giving disclosure
Full name(s):		Andrew WilliamJefferies
Name of listed issuer:		New Zealand Oil& GasLimited
Name of related body corporate (if applicable):		n/a
Position held in listed issuer:		Chief Executive Officer
Summary of acquisition or disposal of relevant interest (excluding	sp	ecified derivatives)
Class of affected quoted financial products:		Ordinary shares partly paid (non listed)
Nature of the affected relevant interest(s):		Indirect(employee shareplan)
For that relevant interest-
Number held in class before acquisition or disposal:		1,000,000
Number held in class after acquisition or disposal:		1,000,000
Current registered holder(s):		NZOG ServicesLimited
Registered holder(s) once transfers are registered:		NZOG ServicesLimited
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:		n/a
Class of underlying financial products:
Details of affected derivative- The notional value of the derivative (if any) or the notional amount of underlying financial products (if any): A statement as to whether the derivative is cash settled or physically settled:
The notional value of the derivative (if any) or the notional amount of underlying financial products (if any):
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products:
For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:		n/a
Details of transactions requiring disclosure-
Date of transaction:		n/a

Nature of transaction:
Name of any other party or parties to the transaction (if known):
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration:
Number of financial products to which the transaction related:
If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details—
Whether relevant interests were acquired or disposed of during a closed period:		n/a
Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period:
Date of the prior written clearance (if any):
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:		n/a
Nature of relevant interest:
For that relevant interest,-
Number held in class:
Current registered holder(s):
For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial products (if any):

A statement as to whether the derivative is cash settled or physically settled: Maturity date of the derivative (if any): Expiry date of the derivative (if any): The price's specified terms (if any): Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products: - For that derivative relevant interest, Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:

Certification

Certification
I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.
Signature of director or officer:
Date of signature:
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:		23-Nov-21
Name and title of authorised person:		Paris Bree, General Counsel

==> picture [98 x 27] intentionally omitted <==

Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listedissuer:		New Zealand Oil & Gas Limited
Date this disclosuremade:		23-Nov-21
Date of last disclosure:		8-Oct-20
Director or senior manager giving disclosure
Full name(s):		Paris Bree
Name of listedissuer:		New Zealand Oil & Gas Limited
Name of related body corporate (ifapplicable):		n/a
Position heldin listedissuer:		General Counsel

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)

Options to acquire ordinary shares, issued in accordance Class of affected quoted financial products: with the Scheme Rules Nature of the affected relevant interest(s): Direct For that relevant interest- Number held in class before acquisition or disposal: 351,288 Number held in class after acquisition or disposal: 487,394 Current registered holder(s): Paris Bree Registered holder(s) once transfers are registered: Paris Bree Summary of acquisition or disposal of specified derivatives relevant interest (if applicable) Type of affected derivative: n/a Class of underlying financial products: Details of affected derivative- The notional value of the derivative (if any) or the notional amount of underlying financial products (if any): A statement as to whether the derivative is cash settled or physically settled: Maturity date of the derivative (if any): Expiry date of the derivative(if any): The price specified in the terms of the derivative (if any): Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products: For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative: Details of transactions giving rise to acquisition or disposal Total number of transactions to which notice relates: 1 Details of transactions requiring disclosure- Date of transaction: 23-Nov-21 Nature of transaction: The Options have been issued to the Senior Manager

The Options have been issued to the Senior Manager subject to the Scheme Rules. Each Option is an option to acquire one fully paid ordinary share. Option holders will be able to exercise the Options in the period from 30 June 2024 until 30 June 2027. The exercise price for the Options is $0.52 per Option. Shares issued on the exercise of Options will be issued on the same terms and will rank equally in all respects with ordinary shares currently on issue. Options do not carry voting rights or any entitlement to receive dividends unless and until exercised and converted to shares. The Board may permit participants to exercise Options by way of a cashless exercise, through which the company would only issue to a participant the number of shares equal in value to the difference between the exercise price otherwise payable in respect of the Options and the market value of shares at the time of exercise.

Name of any other party or parties to the transaction (if known): The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration:

New Zealand Oil & Gas

No amount is payable for the issuance of Options, in accordance with the Scheme Rules. The exercise price for the Options is $0.52 per Option.

Number of financial products to which the transaction related:

1

If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of duringa closedperiod:	If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of duringa closedperiod:
Whether relevant interests were acquired or disposed of duringa closedperiod:		No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed duringthe closedperiod:		n/a
Date ofthe prior writtenclearance (ifany):		n/a
Summary of other relevant interests after acquisition or disposal: Class ofquoted financialproducts: Nature of relevant interest: For that relevant interest,- Number held in class: Current registered holder(s): For a derivative relevant interest,-
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial products(if any):
Astatement as towhetherthe derivativeis cashsettled orphysically settled:
Maturity date ofthe derivative (ifany):
Expiry date ofthe derivative (ifany):
The price's specified terms (ifany):
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlyingfinancialproducts:
_For that derivative relevant interest,- _
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Certification I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. Signature of director or officer: Date ofsignature: or Signature of person authorised to sign on behalf of director or officer: Date ofsignature: Name and title ofauthorised person:		23-Nov-21 Paris Bree,General Counsel
Signature of person authorised to sign on behalf of director or officer:
Date ofsignature:
Name and title ofauthorised person:
Notes Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within— (a) 20 working days after the first acquisition or disposal disclosed in this notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or (b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.

==> picture [131 x 36] intentionally omitted <==

Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited;and
Name of listed issuer:		New Zealand Oil & Gas Limited
Date this disclosure made:		23-Nov-21
Date of last disclosure:		8-Oct-20
Director or senior manager giving disclosure
Full name(s):		Chris McKeown
Name of listed issuer:		New Zealand Oil & Gas Limited
Name of related body corporate (if applicable):		n/a
Position held in listed issuer:		Vice President Business Development

To NZX Limited;and
Name of listed issuer:		New Zealand Oil & Gas Limited
Date this disclosure made:		23-Nov-21
Date of last disclosure:		8-Oct-20
Director or senior manager giving disclosure
Full name(s):		Chris McKeown
Name of listed issuer:		New Zealand Oil & Gas Limited
Name of related body corporate (if applicable):		n/a
Position held in listed issuer:		Vice President Business Development
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:		Options to acquire ordinary shares, issued in accordance with the Scheme Rules
Nature of the affected relevant interest(s):		Direct
For that relevant interest-
Number held in class before acquisition or disposal:		569,254
Number held in class after acquisition or disposal:		834,768
Current registered holder(s):		Chris McKeown
Registered holder(s) once transfers are registered:		Chris McKeown
		e)
		n/a
The notional value of the derivative (if any) or the notional amount of underlying financial products (if any):
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products:
For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:

Details of transactions giving rise to acquisition or disposal Total number of transactions to which notice relates: - Details of transactions requiring disclosure Date of transaction: Nature of transaction:

1 23-Nov-21 The Options have been issued to the Senior Manager subject to the Scheme Rules. Each Option is an option to acquire one fully paid ordinary share. Option holders will be able to exercise the Options in the period from 30 June 2024 until 30 June 2027. The exercise price for the Options is $0.52 per Option. Shares issued on the exercise of Options will be issued on the same terms and will rank equally in all respects with ordinary shares currently on issue. Options do not carry voting rights or any entitlement to receive dividends unless and until exercised and converted to shares. The Board may permit participants to exercise Options by way of a cashless exercise, through which the company would only issue to a participant the number of shares equal in value to the difference between the exercise price otherwise payable in respect of the Options and the market value of shares at the time of exercise.

Name of any other party or parties to the transaction (if known):

New Zealand Oil & Gas

The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration: Number of financial products to which the transaction related: If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of during a closed period: Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: Date of the prior written clearance (if any):

Summary of other relevant interests after acquisition or disposal: Class of quoted financial products: Nature of relevant interest: - For that relevant interest, Number held in class: Current registered holder(s): - For a derivative relevant interest, Type of derivative: - Details of derivative, The notional value of the derivative (if any) or the notional amount of underlying financial products (if any): A statement as to whether the derivative is cash settled or physically settled: Maturity date of the derivative (if any): Expiry date of the derivative (if any): The price's specified terms (if any): Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products: - For that derivative relevant interest, Parties to the derivative:

No amount is payable for the issuance of Options, in accordance with the Scheme Rules. The exercise price for the Options is $0.52 per Option. 1 No n/a n/a n/a

If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:

Certification

I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. Signature of director or officer: Date of signature:

or

Signature of person authorised to sign on behalf of director or officer:

Date of signature: Name and title of authorised person:

==> picture [60 x 36] intentionally omitted <==

23-Nov-21 Paris Bree, General Counsel

Notes

Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within—

(a) 20 working days after the first acquisition or disposal disclosed in this notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or

(b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.

==> picture [98 x 27] intentionally omitted <==

Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listedissuer:		New Zealand Oil & Gas Limited
Date this disclosuremade:		23-Nov-21
Date of last disclosure:		8-Oct-20
Director or senior manager giving disclosure
Full name(s):		Michael Wright
Name of listedissuer:		New Zealand Oil & Gas Limited
Name of related body corporate (ifapplicable):		n/a
Position heldin listedissuer:		General Manager Commercial
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:		Options to acquire ordinary shares, issued in accordance with the Scheme Rules
Nature ofthe affectedrelevantinterest(s):		Direct
For that relevant interest-
Number heldinclass before acquisitionordisposal:		459,992
Number heldinclass afteracquisitionordisposal:		673,207
Currentregisteredholder(s):		Michael Wright
Registeredholder(s) once transfers areregistered:		Michael Wright
		le)
		n/a
The notional value of the derivative (if any) or the notional amount of underlying financial products(if any):
Astatement as towhetherthe derivativeis cashsettled orphysically settled:
Maturity date ofthe derivative (ifany):
Expiry date ofthe derivative(ifany):
The price specifiedinthe terms ofthe derivative (ifany):
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlyingfinancialproducts:
For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:		1
Details of transactions requiring disclosure- Date of transaction: Nature of transaction: Name of anyotherpartyorparties to the transaction(if known):
Date of transaction:		23-Nov-21
Nature of transaction:		The Options have been issued to the Senior Manager subject to the Scheme Rules. Each Option is an option to acquire one fully paid ordinary share. Option holders will be able to exercise the Options in the period from 30 June 2024 until 30 June 2027. The exercise price for the Options is $0.52 per Option. Shares issued on the exercise of Options will be issued on the same terms and will rank equally in all respects with ordinary shares currently on issue. Options do not carry voting rights or any entitlement to receive dividends unless and until exercised and converted to shares. The Board may permit participants to exercise Options by way of a cashless exercise, through which the company would only issue to a participant the number of shares equal in value to the difference between the exercise price otherwise payable in respect of the Options and the market value of shares at the time of exercise.
Name of anyotherpartyorparties to the transaction(if known):		New Zealand Oil & Gas

The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration: Number of financial products to which the transaction related: If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details—

Whether relevant interests were acquired or disposed of during a closed period: Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: Date of the prior written clearance (if any):

Summary of other relevant interests after acquisition or disposal: Class of quoted financial products: Nature of relevant interest: For that relevant interest,- Number held in class: Current registered holder(s): For a derivative relevant interest,- Type of derivative:

Details of derivative,- The notional value of the derivative (if any) or the notional amount of underlying financial products (if any): A statement as to whether the derivative is cash settled or physically settled: Maturity date of the derivative (if any): Expiry date of the derivative (if any): The price's specified terms (if any): Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products:

No amount is payable for the issuance of Options, in accordance with the Scheme Rules. The exercise price for the Options is $0.52 per Option. 1 No n/a n/a n/a

==> picture [100 x 96] intentionally omitted <==

==> picture [100 x 95] intentionally omitted <==

For that derivative relevant interest,- Parties to the derivative:

If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:

Certification

I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. Signature of director or officer: Date of signature: or

Signature of person authorised to sign on behalf of director or officer:

Date of signature: Name and title of authorised person:

23-Nov-21 Paris Bree, General Counsel

Notes

Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within—

(a) 20 working days after the first acquisition or disposal disclosed in this notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or

(b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.

==> picture [98 x 27] intentionally omitted <==

Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listedissuer:		New Zealand Oil & Gas Limited
Date this disclosuremade:		23-Nov-21
Date of last disclosure:		13-Oct-21
Director or senior manager giving disclosure
Full name(s):		Daniel Leeman
Name of listedissuer:		New Zealand Oil & Gas Limited
Name of related body corporate (ifapplicable):		n/a
Position heldin listedissuer:		General Manager Assets and Engineering

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)

Options to acquire ordinary shares, issued in accordance Class of affected quoted financial products: with the Scheme Rules Nature of the affected relevant interest(s): Direct For that relevant interest- Number held in class before acquisition or disposal: 340,524 Number held in class after acquisition or disposal: 510,244 Current registered holder(s): Daniel Leeman Registered holder(s) once transfers are registered: Daniel Leeman Summary of acquisition or disposal of specified derivatives relevant interest (if applicable) Type of affected derivative: n/a Class of underlying financial products: Details of affected derivative- The notional value of the derivative (if any) or the notional amount of underlying financial products (if any): A statement as to whether the derivative is cash settled or physically settled: Maturity date of the derivative (if any): Expiry date of the derivative(if any): The price specified in the terms of the derivative (if any): Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products: For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative: Details of transactions giving rise to acquisition or disposal Total number of transactions to which notice relates: 1 Details of transactions requiring disclosure- Date of transaction: 23-Nov-21 Nature of transaction: The Options have been issued to the Senior Manager

23-Nov-21 The Options have been issued to the Senior Manager subject to the Scheme Rules. Each Option is an option to acquire one fully paid ordinary share. Option holders will be able to exercise the Options in the period from 30 June 2024 until 30 June 2027. The exercise price for the Options is $0.52 per Option. Shares issued on the exercise of Options will be issued on the same terms and will rank equally in all respects with ordinary shares currently on issue. Options do not carry voting rights or any entitlement to receive dividends unless and until exercised and converted to shares. The Board may permit participants to exercise Options by way of a cashless exercise, through which the company would only issue to a participant the number of shares equal in value to the difference between the exercise price otherwise payable in respect of the Options and the market value of shares at the time of exercise.

Name of any other party or parties to the transaction (if known): The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration: Number of financial products to which the transaction related:

New Zealand Oil & Gas

No amount is payable for the issuance of Options, in accordance with the Scheme Rules. The exercise price for the Options is $0.52 per Option.

1

==> picture [202 x 38] intentionally omitted <==

----- Start of picture text -----

Noo
----- End of picture text -----

If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of during a closed period: Noo Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: n/a Date of the prior written clearance (if any): n/a Summary of other relevant interests after acquisition or disposal: Class of quoted financial products: n/a Nature of relevant interest: For that relevant interest,- Number held in class: Current registered holder(s): For a derivative relevant interest,- Type of derivative: Details of derivative,- The notional value of the derivative (if any) or the notional amount of underlying financial products (if any): A statement as to whether the derivative is cash settled or physically settled: Maturity date of the derivative (if any): Expiry date of the derivative (if any): The price's specified terms (if any): Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products: For that derivative relevant interest,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:

Certification

I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. Signature of director or officer: Date of signature: or Signature of person authorised to sign on behalf of director or officer: Date of signature: Name and title of authorised person:

23-Nov-21 Paris Bree, General Counsel

Notes

Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within— (a) 20 working days after the first acquisition or disposal disclosed in this notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or (b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.

Ongoing Disclosure Notice

==> picture [127 x 36] intentionally omitted <==

Disclosure of Directors and Senior Managers Relevant Interests Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listed issuer:		New Zealand Oil & Gas Limited
Date this disclosure made:		23-Nov-21
Date of last disclosure:		8-Oct-20
Director or senior managergiving disclosure
Full name(s):		Catherine McKelvey
Name of listed issuer:		New Zealand Oil & Gas Limited
Name of related bodycorporate(if applicable):		n/a
Position held in listed issuer:		Chief Financial Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:		Options to acquire ordinary shares, issued in accordance with the Scheme Rules	Ordinaryshares(listed)
Nature of the affected relevant interest(s):		Direct	Direct
For that relevant interest-
Number held in class before acquisition or disposal:		351,288	7,500
Number held in class after acquisition or disposal:		519,980	7,500
Current registered holder(s):		Catherine McKelvey	Catherine McKelvey
Registered holder(s)once transfers are registered:		Catherine McKelvey	Catherine McKelvey
Summary of acquisition or disposal of specified derivatives relevant interest(if applicab Type of affected derivative: Class of underlyingfinancialproducts: Details of affected derivative- The notional value of the derivative (if any) or the notional amount of underlying financial products(if any): A statement as to whether the derivative is cash settled orphysicallysettled:		le)
		n/a
The notional value of the derivative (if any) or the notional amount of underlying financial products(if any):
A statement as to whether the derivative is cash settled orphysicallysettled:
Maturitydate of the derivative(if any):
Expirydate of the derivative(if any):
Theprice specified in the terms of the derivative(if any):
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financialproducts:
For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Details of transactionsgiving rise to acquisition or disposal
Details of transactionsgiving rise to acquisition or disposal
Total number of transactions to which notice relates:		1
Details of transactions requiring disclosure- Date of transaction: Nature of transaction: Name of anyotherpartyorparties to the transaction(if known): The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration: Number of financialproducts to which the transaction related: If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of duringa closedperiod:
Date of transaction:		23-Nov-21
Nature of transaction:		The Options have been issued to the Senior Manager subject to the Scheme Rules. Each Option is an option to acquire one fully paid ordinary share. Option holders will be able to exercise the Options in the period from 30 June 2024 until 30 June 2027. The exercise price for the Options is $0.52 per Option. Shares issued on the exercise of Options will be issued on the same terms and will rank equally in all respects with ordinary shares currently on issue. Options do not carry voting rights or any entitlement to receive dividends unless and until exercised and converted to shares. The Board may permit participants to exercise Options by way of a cashless exercise, through which the company would only issue to a participant the number of shares equal in value to the difference between the exercise price otherwise payable in respect of the Options and the market value of shares at the time of exercise.
Name of anyotherpartyorparties to the transaction(if known):		New Zealand Oil & Gas
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration:		No amount is payable for the issuance of Options, in accordance with the Scheme Rules. The exercise price for the Options is $0.52 per Option.
Number of financialproducts to which the transaction related:		1
If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details—
Whether relevant interests were acquired or disposed of duringa closedperiod:		No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed duringthe closedperiod:		n/a
Date of the prior written clearance (if any):		n/a
Summary of other relevant interests after acquisition or disposal: Class ofquoted financialproducts: Nature of relevant interest: For that relevant interest,- Number held in class: Current registered holder(s): For a derivative relevant interest,-
		n/a
Type of derivative:
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying financial products(if any):
A statement as to whether the derivative is cash settled orphysicallysettled:
Maturitydate of the derivative(if any):
Expirydate of the derivative(if any):
Theprice's specified terms(if any):
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financialproducts:
_For that derivative relevant interest,- _
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Certification I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. Signature of director or officer: Date of signature: or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:		23-Nov-21
Name and title of authorisedperson:		Paris Bree,General Counsel
Notes Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within— (a) 20 working days after the first acquisition or disposal disclosed in this notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or (b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.