EXHIBIT 8

LIST OF SUBSIDIARIES (as at May 31,
2007)

|                                               |  |                                   |  |                                           |  |                                   
|---------------------------------------------- |  | --------------------------------- |  | ----------------------------------------- |  | ----------------------------------
|Subsidiary Companies                           |  | Jurisdiction
  of
  Incorporation |  | Business of Subsidiary                    |  | %
  of Ownership 
  & Voting Power
|                                               |  |                                   |  |                                           |  |                                   
|Source
  Rock Holdings Limited                 |  | New Zealand                       |  | Holding
  company                         |  | 100%                              
|Austral
  Pacific Energy (NZ) Limited          |  | New Zealand                       |  | Oil
  and gas exploration and development |  | 100%                              
|Millennium
  Oil & Gas Limited                 |  | New Zealand                       |  | Oil
  and gas exploration and development |  | 100%                              
|Rata
  Energy Limited                          |  | New Zealand                       |  | Oil
  and gas exploration and development |  | 100%                              
|Totara Energy Limited                          |  | New Zealand                       |  | Non
  trading company                     |  | 100%                              
|Kanuka
  Energy Limited                        |  | New Zealand                       |  | Oil
  and gas exploration and production  |  | 100%                              
|Arrowhead
  Energy Limited (1)                 |  | New Zealand                       |  | Oil
  and gas exploration and production  |  | 100%                              
|Odyssey
  International Pty Limited(3)         |  | Australia                         |  | Non
  trading company                     |  | 100%                              
|Indo-Pacific
  Energy Australia PtyLimited (3) |  | Australia                         |  | Non
  trading company                     |  | 100%                              
|Trans-Orient
  Petroleum (Aust) PtyLimited (3) |  | Australia                         |  | Non
  trading company                     |  | 100%                              
|ZOCA
  96-16 Pty Limited (3)                   |  | Australia                         |  | Non
  trading company                     |  | 100%                              
|Austral
  Pacific Energy (PNG) Limited (2)     |  | Papua New Guinea                  |  | Oil
  and gas exploration and development |  | 100%                              
|(4)                                            |  |                                   |  |                                           |  |                                   
|Other:                                         |  |                                   |  |                                           |  |                                   
|Coral
  Sea Drilling Limited                   |  | Papua New Guinea                  |  | Non
  trading company                     |  | 35%                               

|    |                                                                                                                                                                                                                                     
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Acquisition
  completed December 22, 2006.                                                                                                                                                                                          
|   
|(2) | Name
  changed from Trans-Orient Petroleum (PNG) Limited on November 16, 2006.                                                                                                                                                      
|   
|(3) | Voluntary
  de-registration will be sought in the near future for the four Australian
  companies.                                                                                                                                  
|   
|(4) | 12 shelf companies (named Austral Pacific NZ No.[number]
  Limited) were incorporated in New Zealand in late March 2007, all wholly
  owned by Austral Pacific Energy (NZ) Limited. These are all currently
  non-trading companies.

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