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EXHIBIT 10.10

PETROLEUM EXPLORATION PERMIT 38330
CROWN MINERALS ACT 1991

Pursuant to Section 25 of the Crown Minerals Act 1991, I DOUGLAS
LORIMER KIDD, Minister of Energy

Do Hereby
Grant          Indo-Pacific Energy (NZ) Ltd. 34%
               Moondance Energy Pty Ltd      33%
               Mosaic Oil NL                 20%
               Continental Oil NL            13%

the exclusive right to explore for petroleum in the area
described in the First Schedule and more particularly that
delineated on the plan attached hereto.

This Exploration Permit is issued for a term of five years
commencing on 1 July 1996. The Permit is granted subject to the
Crown Minerals Act 1991 and any regulations made thereunder, and
to the terms and conditions specified in the Second and Third
Schedules hereto.

Dated at Wellington this 4th day of June 1996.


/s/ Doug Kidd
Hon Doug Kidd
Minister of Energy