Period of Restricted Maui Gas Availability in Nov.

MAUI DEVELOPMENT LIMITED

Media Statement
For Immediate Release
31 October 2003

Period of Restricted Maui Gas Availability in November

Maui Development Limited today advised of a period of restricted Maui gas availability in late November.

“The Crown, as the contractual buyer of Maui gas, has been fully informed of these restrictions, and the timing has been moved so that it does not clash with a planned outage of the Cook Strait HVDC cable,” MDL spokesman Simon King said today.

“The restrictions are necessary to complete a mandatory internal inspection of a gas processing vessel on the Maui A platform.

“As a result, Maui B will be shut-in for approximately seven days from 22 November, and Maui A will only be capable of producing about 60% (200 terajoules per day) of current Maui offtake during this period - however, this rate is still close to the contractual Maximum Daily Quantity under the Maui Gas Contract.”

“MDL's operator, Shell Todd Oil Services will be endeavouring to reduce the period of seven days if at all possible, and minimise the impact on the purchasers of Maui gas, all of whom have been advised of the restriction,” Mr King said.

ENDS

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