Austral Pacific Energy (AUSPF) 6-K Current report (foreign)

Exhibit 99.1

AUSTRAL PACIFIC ENERGY LTD.

Information to be supplied to the New Zealand Stock Exchange under Listing Rule 7.12.1
6 June 2008

Issue of shares:

a) Ordinary shares, CA 0525261008

b) 1,056,338 shares issued

c) Issue price of US$0.71

d) Non-cash consideration – in payment of a work fee for the agreed restructuring of the company’s loan facility

e) N/a

f) Shares issued equivalent to 2.3 % of total ordinary shares now on issue

g) Issued under agreement with loan facility provider for restructuring facility

h) Agreement dated March 20, 2008; TSX-V approval dated April 17, 2008

i) Shares are not transferable in Canada until September 22, 2008; not transferable to US citizens for 40 days after issue (July 2, 2008)

j) 45,972,469 ordinary shares in total after issue

k) N/a

l) Date of Issue: 23 May 2008