This must be good for NZO as coal will be replaced by gas(either directly or indirectly).
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The biggest resource at this time is Cash.
They are gambling on 2 massive Gas Prospects each worth billions.
Ironbark-to be drilled soon-my unqualified opinion odds of success around 1 in 3(NZO say 1 in 20,CUE 1 in 4, Beach approx one in 3 and a retired BP employee close relation to me one in 2-BP itself does not state odds but they are excited by this prospect)
Barque is slightly smaller and lacks infrastructure but OGOG ,majority owner NZO makes FPSO solutions(converts big old tankers to production LPG and storage)so no other infrastructure necessary.We cannot count on Barque being drilled.
https://www.nzx.com/announcements/346459
Sudden departure.
Big increase in sp on small volumes.
I can only speculate as to why.
Fortunately I bought a lot recently at 61 cents and certainly will not consider selling any until they reach a minimum low price -an honest fair price was 90 cents last year( mista tea low end valuation).
Might be a lot more now-we might see Australia changing from coal to gas-and Ironbark as likely as not could provide this(although NZO recently confirmed Northingtons assessed only a 1 in 20 chance so clearly no one would want to buy and the Independent Directors stated the sp could fall back to previous levels around 50 cents)
interesting price increase on no news, good to see, I rejected offer too.
Whether or not 'Global Warming' (or whatever you want to call it) is responsible for the latest bush fires, I imagine the Aussie government is going to be under sustained renewed pressure to speed up their transition to cleaner fuels. The warming climate certainly hasn't helped, that's for sure. The footage I have seen is bloody awful to watch - I really feel for them.
If there is a lot more pressure on their well-regarded and much-loved PM, I agree - when he is not surfing in Hawaii he will look to gas as the most likely stepping stone in a decades-long transition to lower emissions. Perhaps that will help generate more interest in the NZO stock as we get closer to drill.
Especially after Beach confirmed recently they don't do frontier exploration unless there is a 1/4 - 1/3 probability of commercial success minimum. Given their jubilance (shared by our CEO until recently for some strange reason...) we can assume the estimated success rate for Ironbark exceeds this.
Not a given that it will be successful later this year by any means - but if you are in the hydrocarbon exploration business, these are the best odds you could ever hope for really.
I have been trying to buy lately as well. Order not filled but got some. I was the first in at 64 so i guess that is still me. Cue is also doing well. In fact I was going to buy more Cue but it is relative to NZO in my opinion it has less upside.
Trump certainly has stirred up the oil market. Have just come back from town where I bought 430 liters of Diesel. By the end of this week that amount of diesel will cost 80 dollars more. By keeping an eye on the WTI you have about a week before a large movement hits the pump. So I would say fill up before the end of the week to save a few dollars.
The Sun still has not penetrated the smoke-24 hours of dark hazy sky.
Last night it was pretty dark at 7pm.
I think Digger you should think twice about using that Diesel !