are we waiting to see how ASX will treat NZO today i guess thats the question
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are we waiting to see how ASX will treat NZO today i guess thats the question
Excellent news!!
Typical Kiwi investor response tho - obviously don't understand/don't want to get drawn into risky oil company investments.
By my rough calculations the share price rise values additional reserves at about $16 per barrel. Whoever got half a million at 1.10 got a real bargain.
I thought "in ground" reserves (undeveloped at that) had been selling for over USD30?
very good news re tui upgrade.
a progress report re kupe jacket installation is overdue.
kupe in long run will produce more $ than tui - even with the upgrade
see nzo made the announcement first on asx - instead of awe
M
Very nice :). It has broken through the $1.10 resistance, so should go north from here. :)
Dunk and Balance no where to be seen ?
I am painting the house have more important things on my mind than NZO. The options are still going to be worthless when the music stops thats when you will find out. So what an upgrade how much will come your way it will more than likely end up in the trough. Lot of investors still playing catch up who will be glad to get out they need to court a new set of the blue eyed brigade to take their place. Macdunk
Great, 9.7 million more barrels, or 1.2 million for NZOG @ $100 USD gives us $160 NZD extra. Divided by 360 million shares that would add a good 40 cents to the share price.
Of course to be discounted by
-this is oil in the ground, not money in the bank (things could go wrong)
-the money will only become available over the years
-some would say management will only spend it on higher salaries and more exploration
-some production cost (no idea how much)
on the other hand
-over time the oil price will only go up (90% sure of Peak Oil pushing it up, 10% chance of economic meltdown lowering the price)
-this almost makes sure that we'll have two years of full revenue before it tapers off. No financial problems supporting Pike or Kupe.
And then there is Pike, going strong and getting better as each day passes, with coal at record price
And then there is Kupe - about time we hear something about the project progress. I assume no news is good news.
My bet is that we still need one good result of one of the Kupe drills to push the options over the conversion - else it might be pass the parcel. But not yet!
well, hasn't this one been a lesson in patience... :)
well as reported by the herald NZOG as a "bright spot" in the market with head line
"Tui oilfield to offer larger bounty than forecast"
http://www.nzherald.co.nz/section/3/...ectid=10477697
This is the first time on sharetrader i have quoted myself. This increase i expected and in fact i do not think this will be the last of what will be achieved fromTUI. TUI H4 is still up the sleve and also maybe some extra vertical drill to find more pockets are very likely.
The market reaction is as it always is with NZO where it is consertive and esentially says show me the money. 30% increase will largely go into profit as the capx cost are already factored in.Very little extra cost will be required to get this 30% additional oil.
Probably the market has not yet fully factored in this good news as it is largely a down day on the sharemarket. NZO and PPP are swimming against the tide. Another big factor is in my quote of some days ago. It now means that going forward some years NZO will not have the dip in revenue between TUI and PIKE and KUPE. That when fully realised will be very positive. Market do not take kindly to revenue dips.