Thanks for that. If they are still pumping 50,000 bbls/day with this water cut...well that aint too bad.I thought that by the time this cut took place that production might be down to say 28,000 bbls.
Better than I thought.
Printable View
If the December water cut was 32% then total fluids would be 73,500 bbls/day, of which 50,000 bbls/day is the good stuff.
Once the water cut gets to 58%, then the limitation of 120,000 bbls/day of total fluids will kick in and oil flows must drop. This may be the only limitation. If so, we may have a long sweet spot on the production curve.
My guess is that as they learn more about handling the individual wells, they will be able to hold the water back much better than the pre-production estimates. Looking good.
Mx
NZOG buoyant despite US economy worries
New 5:30AM Friday February 01, 2008
New Zealand Oil and Gas says it had an outstanding December quarter.
While worries about the US economy triggered a flight from risk globally, the small New Zealand company operating in the traditionally risky area of oil and gas exploration and production was buoyed by a high oil price and by a key project coming on stream.
Its Tui development off the Taranaki coast produced 6.4 million barrels of oil in five months and had its reserves upgraded by 50 per cent.
That allowed NZOG to publish a cashflow statement for the three months to December 31 today that showed it had $60 million of cash at the end of the quarter.
digger, thats a big call of $3.30 on the heads...
Off current market info I would not have thought it would be possible...
but with a PRC 50% increase to reserves, Momoho, no dividends (re-invested into further projects).... then sure......I would have thought that right now a fair value would be half the digger target taking into account development risks of the two current projects in that stage...
Option holders surely think theres something left in the heads...
Im undecided about the markets but investment in safer stocks would be a toss up between NZO and PEM...(both a Mackdunk tip off)...
Hey MD, whos climbing on your shoulders in the Comp....?
haha...
:cool:
.^sc
DM...My buy signals are very strong today Expect a good day for trading..not sure what Yogi thinks.
Not a good day for trading NITA. Friday in a scary market is never a good day. Tuesdays in NZ with overseas direction but never mondays or fridays. The average loss in the ASX 2008 competition was 22% with only one person in positive territory which says a lot for having stop losses in place for moments like these. SHREWDY was one place above me with us both being just below average. If ever you get into trading it pays to study best days, best buy times, best sell times for short term trades.
You might be surprized at how predictable it becomes. Your NZO is predictable but not enough volume to be a good trading share. Your PRC will be a buy when it rises above the thirty day moving average with a 5% stop loss. You only have to get it right 60% of the time to make well above average returns. BUY more on the way up until your stop loss takes you out. Macdunk
Hey i was just joking here. MD is always toooo much the other way so i thought i would balance[now where did that name come from at a time like this]things out a little using the other extreme. I really think that the report that had NZO worth 2 dollars Aus about right.
How can you say that DIGGER when Macdunk told you it was a buy at 110c and run a 5% stop loss on it a couple of days ago. Your PRC is 9% below its buy signal at the moment. For all the peak oilers, and global warming bull dusters, and other road kill, i will post it if and when the time comes to buy that.
Macdunk
Whoever bought last week is already up 15%...now that surely beats interest in the bank.