NZ Oil & Gas Ltd buys stake in exploration permit

WELLINGTON, Oct 11 (Reuters) - New Zealand Oil and Gas Ltd

has taken a minor stake in a deepwater explorationpermit, the company said on Thursday.

NZO said it had taken a 6.667 percent stake in theexploration located off the Taranaki coast on the west coast ofthe North Island.

It said it had bought the stake from Global ResourceHoldings, LLLP and Randall C Thompson LLC, and would pay $9.5million in three installments.

Other partners in the permit are Anadarko, with 50 per centand Hyundai Hysco with 33.333 per cent.

(Gyles Beckford)

((Gyles.Beckford@thomsonreuters.com)(+64 4 802 7977)(ReutersMessaging: gyles.beckford.reuters.com@reuters.net))

Keywords: NZOG PERMIT/