But all in all far better than being left out in the cold especially as PetroVietnam would not be in it if they did not see a good upside in the field. A small foothold here can lead to bigger things in the future!
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Agreed. 5% of this could be bigger than 10% of TUI. And no risk of icebergs either. But there is still a long way to go before a production decision.
Lots of positive stories coming about oil exploration in the last week. The brokers will start to take notice in about two days. Drinks tonight, office watercooler talk on Monday. Say by next Tuesday they will know what to think, and the market may wake up.
very average new presentation out for the agm contain little new information other than tuis production for the year has been downgraded hopefully sh are giving it to them at the agm they have alot to front up to
Snippet from Premier Oil News Alert 19.11.09.
* 3D acquired on Block 07/03 in Vietnam, rig due on location for second well, Ca Rong Vang, later this week, following on from successful Ca Rong Do discovery in June.
But boysy did you notic the comment about Maitland.Only got a mention because it is their but nothing happening except what has been happening for the last 4 years.It is a bit like KUPE except that with KUPE they were honest and admit since 1986 that it was for a future event. Hopefully now that future event is tomorrow or a few days after.
I will be cremated with Maitland gas. I will live a long time to come.
i think alot of people who bought up top could likely sell off as we get closet to the td of the wells. Clearly still plenty of upside from either vietnam or timor sea as well as confirmation of a farm in in vietnam. Though nothing is in the bag quite yet look at how the vietnam fiasco has played out so far. Yes digger the mention of maitland was the same old wasnt it i mean how long does appraising really take they should just front up and say it is clearly on the backburner as to hard at this point in time. I think some valid questions have been made about ppp lack of production coming online med to long term i mean if the tui wells are not succesful it could be some years before any finds in vietnam and timor are bought online if there are of course finds. I wouldnt be supprised from ppp statement about going after projects that will add production quickly to ppp whether this be a farm in to recent finds or fast tracked projects who knows but it sounds as though they are not content to sit on there asses and watch the pile of cash grow albit at a slower pace with tuis natural decline.
Oilex kicks off drilling on first well in Timor Sea
http://www.smallcapnews.co.uk/articl..._Sea/7845.aspx
Boysy...I see you're now out of PPP. Did you make a quid out of it in the end?
my entry price was 32 sold half at 65 and the rest at 45. so didnt do too bad though i could of done alot better at 80 cents lol. Looks to be undervalued at the moment based on fundamentals but might come back before tui looks like there is little to no premium built into the sp currently around the drilling in taranaki and vietnam which should be approved sometime one would think.