ECHELON RESOURCES LIMITED — Director's Dealing 2022

May 30, 2022

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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:		31-May-22
Date of last disclosure:		23-Nov-21
Director or senior manager giving disclosure
Full name(s):		Catherine McKelvey
Name of listed issuer:		New Zealand Oil & Gas Limited
Name of related body corporate (if applicable):		n/a
Position held in listed issuer:		Chief Financial Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivativ	es)
Class of affected quoted financial products:	ab	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:		519,980	7,500
Number held in class after acquisition or disposal:		519,980	10,214
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 applic		le)
Type of affected derivative:		n/a	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:		n/a	1
Details of transactions requiring disclosure-
Date of transaction:			27-May-22
Nature of transaction:		n/a	Participation in a renounceable rights issue
Name ofany otherparty orparties to the transaction(if known):		n/a	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:			NZ$1,139.88
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 during a closed period:			No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period:		n/a	n/a
Date of the prior written clearance (if any):		n/a	n/a
Summary of other relevant interests after acquisition or disposal:
Class ofquotedfinancialproducts:		n/a	n/a
Nature of relevantinterest:
_For that relevant interest,- _
Number heldinclass:
Currentregisteredholder(s):
For a derivative relevant interest,-
Type ofderivative:
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:		31-May-22
Name and title of authorised person:		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.

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