Aug. 2010 - AWE is currently running cement plugs in the Tuatara-1 well prior to abandoning it. The well was drilled to a total measured depth of 6,270 feet (1,911 meters) during which minor oil shows were intermittently reported over the interval 5,873 to 6,070 feet (1,790 to 1,850 meters). Wireline logs were run, but the well did not encounter a significant amount of hydrocarbons. Located in PEP 38524 in the western Tasman Bay, the well is operated by AWE, holding a 60% interest.\; Roc Oil holds 20%; Kea Oil holds 10%; and Carnarvon Petroleum holds the remaining 10% interest.

Jul. 2010 - AWE has spud the Tuatara-1 exploration well and should reach a proposed total depth of 6,644 feet (2,025 meters). The well will target the Moki Sandstones within the Tuatara prospect, which is defined by the Malvern 2D seismic survey. Situated in a water depth of about 164 feet (50 meters), Tuatara is located in PEP 38524 in the western Tasman Bay in the southern part of the offshore Taranaki Basin. AWE operates the license, holding a 60% interest.

May. 2010 - Roc Oil farmed into PEP 38524, in the Taranaki Basin offshore New Zealand. Roc Oil will contribute towards the cost of the Tuatara-1 exploration well, operated by AWE New Zealand, to earn a 15% participating interest in the permit. The well is targeting roughly 80 MMbbl of potential recoverable oil reserves in a typical Taranaki basin-style trap, similar to the producing Maari oil field located 50 miles (80 kilometers) to the northwest. Tuatara-1 will be drilled in 164 feet (50 meters) of water, around 9 miles (15 kilometers) offshore to the north of New Zealand's South Island. The farm-in agreement is still subject to governmental approvals. Following the approval, AWE will hold a 75% operating interest; Roc Oil will hold 15%; and Kea Oil and Gas Limited will hold 10%.