The group's principal activities are to develop, explore, acquire and operate oil and gas properties with special emphasis on onshore oil and natural gas reserves. At 31-Dec- 2003, the group operated 504 wells representing 95% of proven reserves. The group's main focus is on the development and exploration in four domestic core areas and in New Zealand. Gas production is sold in the spot market on a monthly basis and oil productions are sold at prevailing market prices.
