On October 25, 2011, the Securities and Exchange Commission (SEC) revoked the registration of each class of registered securities of Austral Pacific Energy Ltd. (Austral Pacific) for failure to make required periodic filings with the Commission. Without admitting or denying the findings in the Order, except as to jurisdiction, which it admitted, Austral Pacific consented to the entry of an Order Making Findings and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to Austral Pacific Energy Ltd. finding that it had failed to comply with Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 13a-1 and 13a-16 there under and revoking the registration of each class of Austral Pacific’s securities pursuant to Section 12(j) of the Exchange Act. This Order settled the proceedings brought against Austral Pacific in In the Matter of American Capital Partners Limited, Inc., et al., Administrative Proceeding File No. 3-14534.

In conjunction with this trading suspension, the Securities and Exchange Commission (SEC) also instituted two separate public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Austral Pacific Energy Ltd. for failure to make required periodic filings with the Commission. In the Orders, the Division of Enforcement (Division) alleges that the Company is delinquent in required periodic filings with the Commission. In these proceedings, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the Company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 or 13a-16 there under, are true. The judge in the proceedings will then determine whether the registration pursuant to Exchange Act Section 12 of each class of the securities of the Company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in the proceedings issue an initial decision not later than 120 days from the date of service of the order instituting proceedings.