SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Treaty Oak Capital Management, LP (Last) (First) (Middle) 300 WEST SIXTH STREET SUITE 1910 (Street) AUSTIN TX 78701 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 02/28/2008	3. Issuer Name and Ticker or Trading Symbol AUSTRAL PACIFIC ENERGY LTD [ AEN ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	7,900,000	I	See Footnote(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Treaty Oak Capital Management, LP (Last) (First) (Middle) 300 WEST SIXTH STREET SUITE 1910 (Street) AUSTIN TX 78701 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Treaty Oak Advisors, LLC (Last) (First) (Middle) 300 WEST SIXTH STREET SUITE 1910 (Street) AUSTIN TX 78701 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Myers John J Jr (Last) (First) (Middle) 300 WEST SIXTH STREET SUITE 1910 (Street) AUSTIN TX 78701 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The filing of this Form 3 shall not be construed as an admission that Treaty Oak Capital Management, LP ("Treaty Oak Management"), Treaty Oak Advisors, LLC ("Treaty Oak Advisors"), or John J. Myers (the "Reporting Persons") is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the common shares, no par value (the "Common Stock"), of Austral Pacific Energy, Ltd. (the "Issuer") owned by Treaty Oak Master Fund, a Texas general partnership, Treaty Oak Acorn Fund, LP, a Texas limited Partnership and Treaty Oak Ironwood, Ltd., a Cayman Islands exempted company (together, the "Funds"). Pursuant to Rule 16a-1, the Reporting Persons disclaim such beneficial ownership.

2. Treaty Oak Management holds indirectly shares of Common Stock through the accounts of the Funds, of which Treaty Oak Management is the Investment Manager. Treaty Oak Advisors reports the shares held indirectly because Treaty Oak Advisors is the general partner of Treaty Oak Management. Mr. Myers reports the shares held indirectly by Treaty Oak Management because as the manager of Treaty Oak Advisors, at the time of purchase, Mr. Myers controlled the disposition and voting of the securities.

	John J. Myers, manager, Treaty Oak Advisors, LLC, general partner,Treaty Oak Capital Management, LP	03/27/2008
	John J. Myers, manager, Treaty Oak Advisosrs, LLC	03/27/2008
	John J. Myers	03/27/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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