So we have an interesting situation which the court must resolve.

There are people who think there are hundreds of millions, perhaps even billion barrel oil fields down there or trillions of cubic feet of gas.

New Zealand is an remarkably under-explored country, and with hydrocarbon deposits found in all the near-shore petroleum basins there is enormous potential in its our oceans.

It's so under-explored it's almost fact some of our petroleum basins have not had a single well put in them.