macduffy, the other stock is kas on asx
M
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Back to 26 cent on the NZX, is this worth buying again?
what did NZO pay for there stake?
The PPP shareholder letter on the 27/1/09 says NZO paid A30c to bring them up to 15% of PPP - so they are in the red unfortunately today. I'm not sure but possibly they then paid more to later increase their stake. There doesn't seem to be much confidence in getting a favorable SW Tui report tomorrow with NZO. AWE and PPP all dropping at the end of play today - our luck hopefully improves soon with the Kan Tan IV which to date has been very disappointing with the mechanical delays compounding the Hoki duster result and further time taken to redrill at Tui. Now it is winter!
...not sure...however it is of some comfort (at least for me) that the main/biggest/directors holding's remain as they were...at least untill today....its the same old situation...those with different investment expectations...some short term...some long term...
silver right.....the above message was meant for yoy...cheers....
NZO only dropped at close on 5000 shares traded.. 56,174 for the day for a 5c drop, so you can't read much into that..
NZO Typical volumes were in the couple hundred thou area these days. Depth on both sides has been quite thin, and a quick buy or sell of modest quantity can move this quite far at the moment.
PPP dropped on 300 shares at 25c - 147 at close, the other almost 420,000 shares didn't move the price at 26c.
Looks more like someone trying to push down closing prices, than anything really substantial.
not the news everyone was expecting what next for ppp
Tui SW-2 exploration drilling update
STOCK EXCHANGE ANNOUNCEMENT
14th June, 2010
Tui SW-2 exploration drilling update
The Operator, AWE Limited, advises that wireline logging is still in progress at the Tui SW-2 exploration well.
Wireline evaluation of the previously reported oil shows in the top of the F Sand has established that an economic accumulation of oil is not present at the Tui SW-2 location. Upon completion of wireline logging operations the 7" liner will be run so that the well can be used for possible future gas injection.
The Tui South West prospect is located in mining licence PMP 38158 in the offshore Taranaki Basin and is adjacent to the producing Tui oilfield.
Kahu-1, to the east of the Tui oilfield, will be drilled immediately following Tui SW-2.
Participants in PMP 38158 are:
Pan Pacific Petroleum NL 10.0%
(through wholly owned subsidiary WM Petroleum Limited)
AWE Limited (Operator) 42.5%
Mitsui E&P Australia Pty Limited 35.0%
Stewart Petroleum Co Limited (NZOG) 12.5%
buy depth on the nzx looking very sad indeed hit 17.5 on the asx how much lower will it head if kahu is a duster