Snr. Digger and Skids
Wait on Australia tax office i thenk
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Snr. Digger and Skids
Wait on Australia tax office i thenk
A frustrating wait but patience is needed . I will wait as long as it takes-and best not to mention it to your seniorita as they will never understand .
it will be interesting to see if giving cash back to investors will do to the sp if and when they do
one thing missing from todays half yearly was an elaboration on the capital raising - now why is that?
sure there was the 1 liner but no detail.
IMO stand by for the impending tax office ruling which clears the way - the board have had a meeting for the books and no doubt progressed the tax office ruling - just not allowed to say anything.
so IMO the tax office ruling will be out very soon [tomorrow would be nice] then the meeting will be about the same time as CRD update - which the half yearly pumped somewhat.
sp should soon jump over 15c.
M
I am back in the market - this is one I have been accumulating......
Looks like things are hotting up look at ASX latest trades. Interesting open tomorrow in NZ....
...your right ..whats that all about....being quite naieve....this has to be stinky...look at the que....to buy....man I hate this.....cheers anyway...
....re the que...a direct opposite on this side of the ditch....sellers dominate......
Hi Troyvdh. Ignore this side things heated up before our close..... Have jumped in over the past few weeks accumulated heaps did it a few years back with CDI and more recently summit gold... Good news coming up.... Capital payment and news from Vietnam....
Lets see what happens in the next wee while could be an interesting run
I would expect some annoucement about the joint venture within the next week.
what JV in vietnam ?
well up in nz on open now asx to do its thing
i wonder if directors are buying again now that the half year is out
M
further strength today up to 16.5 on the asx on interesting volume
6 cents to hit shareholders account this evening will be interesting to see how things progress from here
...youve got that right....by no means am I conspiracy theorist....but man would I like to be a fly...in the smoko room...of NZO and PPP....I remain so disgusted with my self in not being aware of the issues surounding PRC.....Im sure that many/all folk....who had an interest in that mine...that had we ...et al....had known....more ..would have blown the whistle ages ago.....
....sorry I had to get that of my chest....
Well the cash is out to holders let the games begin before the AGM
Time to move on and stop punishing ourselves . My financial loss in PRC alone was far more than the ppp capital return
NZO didnt have a clue to run a mine and relied on outside advice -and David Salisbury was open about that -he told me he was confident in Peter whittall-but would sell nzo shareholding if he got the right offer to concentrate on what he knew -oil .
So many people-from ministers down -didnt do their job . I am pleased that PW has pleaded not guilty-some more truth as to what really happened might come out at the trial .
Lets hope the bodies are recovered soon
The turnover on th oz and nz - seems high since the divi and associated drop in share price.
Does anyone know the purpose/meaning of the new/change of the takeover clause in the AGM?
Has anybody received their capital return payment in their NZ bank account yet? Its Wednesday night, 14 Nov and my payment has yet to show up.
Thanks
Yes mine came and was in account on Saturday.Daughter and son still waiting as they will receive cheques.Maybe Taijon they ran out of money after paying me. First up best dressed sort of thing. We are parting here and are happy,i am sure you understand. Will raise glass to you .
Cheers
Hi Digger, thanks for your reply and party up large as you deserve it. I have followed your posts for years and appreciate your wisdom. I should have been more clear in my post - my PPP shares are on the Australian register but dividends/cap returns are to be paid into my NZ bank account. Hopefully my money is moving through the OZ/NZ banking system. Then again, perhaps they did run out of money after they paid you out!!!!
Cheers
If you are on the Aus registry and want NZ dollars you have complicated it.Might have been better to have opened an Aus account and get the NZ dollars yourself. Something to think about for another time.Who knows this could well be an annual event or at least a bia-annual happening. Most of my money will go back into PPP. Where else can you get $1-20 in the bank for a dollar SP and the rest thrown in for nothing.Cheers again
It turned up in my NZ bank acc at the begining of the week
Thanks again Digger and also Skid. I checked my account on the Link Market Services website and can see a cheque in $A is on the way, despite my having provided Link with details for my NZ bank account about 2 years ago. The bank details are on there so I don't know why they didn't pay it into that account. Nevertheless a cheque in $A suits me better and I agree Digger, reinvesting is an attractive option.
Hey that is not on. Your not allowed to reinvest until i have fulled my quota. Remember with Christmas coming up the next month soon will be the best time to buy as always a need to sell to get cash for Santa requirements.Also by beginning of new year we will be into drilling and that usually spurs a bit of interest.
Hi Anyone who is is interested. $A cheque turned up in the mail today. Associated documentation shows NZ residents what to put in next year's tax return. Dividend is fully imputed.
So its party time for me too, while I keep a close eye on the share price. I'm in the queue trying to buy at 10.5 cents on the ASX!!!!! If the party goes on too long I may take those currently on offer at 11 cents.
Cheers and thanks for all those who commented.
wow, received my chq, classed as nz div and imt credit attached.
Ca ching..
Have enough lollies been thrown to us shareholders to not stir up trouble during the AGM in the next few days ?
Interesting update on premiers website looks as though we have 2 drills in the 2/3 Q of 2013.
http://www.premier-oil.com/premieroi...statement-1511
Good to see a bit more buy strength coming through both the asx and nzx this week still plenty of ground to bring this to above cash backing however
Well ppp are taking a bit of a gamble with the recent announcement
sure are...... if Oi comes in they hand a large portion of the 50% back with a premium buy back..... im guessing a few percent.
if its a duster..... they carry the can.
maybe this was the only way for Oi to get drilled this season??
cant understand how these deals get worked out in the back room.
if the board thinks its worth a 50% carry cost to drill the well and it strikes...... why hand it all back?
Looks as though the jv were not keen to drill good to see ppp have learnt from the Vietnam foray to protect the upside. Strong interest today plenty more yet until its at cash backing let alone positive EV.
What do you see as PPP's shareprice when equalled to cash backing?
Good to see a bit more interest in PPP of late still good buying under cash backing must not be too many oilers with 4-5 upcoming drills in the next year or so at cash backing and still profitable.
Agree boysy. Seems an interesting year ahead, hence the renewed interest. The ASX listing doesn't appear to show the same vigouras the NZX though ... yet.
dellow....the ASX PPP went up yesterday 10-11 %.cheers
Did the same today still plenty to run on the upside would be good to see some research coverage on ppp in the near future no doubt the valuations could be a multiple of the existing sp
So did anyone buy any shares when in the doldrums. I bought 450000 between 12.5 and 14.2. Over time I just could not see how i could lose with still more in the bank than the current SP. Some of the upcoming wells come in and we could be in for a multi bangger.
Cheers
dear digger`....you are not wrong....sadly most folk do not appreciate value.....and concentrate instead on short term gains....like i say to my kids when buying a bike,,,a good bike will always be a good bike....not something flashy ....yawn....
hold 45000
Digger - I was in around the low 12's to 13. Got in on ASX too. Agree with your thinking.
Still seems cheap for what they are offering in the next year would be good to get some serious broker coverage on ppp it has been in the dark in the last year or 2
Well looks as though the market is staring to notice PPP lets hope heading into a drill a few brokers get onto the bandwagon and help raise the profile of PPP.
Not a bad week up ~25% could run plenty more on positive news out of the us with oil up further overnight
Yip locked and loaded. Not too much downside from here.
Interesting announcement out today though clearly not unexpected
Quite true Boysy. A good number of drills lined up with these two and two in Taranaki all this year. I have 2.5 million and am waiting for the results which could well be more interesting than what the market is rating it at.Adds spice to life this oil drilling,but as well as spice i really like to feel some of that oil.
It has occured to me that this well we have 15 % of is near to Vietnam but it also is in the water China is claiming as China is claiming all of the South China seas right up to the shores of Singapore.
Hi digger yes china seems to be trying to claim anything in the South China Sea. You have to question how much claim they can really have. I see the 2 nd and 3rd drills just as exciting clearly the ca rong do 3rd appraisal well will hopefully be enough to get an idea of oil and gas reserves premier have a fair bit on the go in Vietnam so hopefully this all bodes well. It has been years since they drilled crd in 2009 however the share price did run right up to 60 odd cents f I remember rightly
The run up could well happen again,maybe not as far as last time but as you know it is well undervalue now so has a long way before overvaluation. And your memory is a little short. Last time the SP ran to 78 cents. My daughter sold her 100 thousand for 75 cents and i sold none so you sort of know who in the family is crowing.
Looks like the drilling may be sooner than expected with updated status from rig zone lets watch the money move into ppp.
http://www.rigzone.com/data/offshore.../Ocean_General
What caused the drop in November last year? for all the PPP follows.
Disc: looking with interest
Edit: Dont worry, DMOR.
Yes sorry about that, had a read over the thread on here and looked over much documentation. I cant quite figure out why it is valued soley on cash backing, even with an income. I hold OXX which is simular and it is also valued on cash backing. This is on my watchlist, as any well actually producing can send the share price skyrocketing. I maybe buying in over the coming weeks.
As always DYOR.
the ocean general must have arrived by now and should spud any day
success could see sp surge towards 70c nz and substantially upgrade the other large prospects in the permit
its another "company maker play"
now take a deep breath
one must be mindful this is a high risk new frontier drill so chances of a dud are a lot higher than success
M
Well drilling has started
http://www.rigzone.com/data/offshore.../Ocean_General
any ideas why the SP would drop if drilling has just started...??
Its a pretty illiquid stock with not much depth either side, and just so happened that yesterday someone needed to get out and had no option but to sell down to what was available. Nothing to worry about, like moosie said (although a bit more theatrically I might add)
Interesting to note still no announcement from any parties good recent presentation from premier suggesting size of target being 35-120-190 mmbls.
http://www.premier-oil.com/premieroi...n_June2013.pdf
Interesting to note rig zone have the status at drilling for a number of days so far
http://www.rigzone.com/data/offshore.../Ocean_General
Ran to aud$0.60 in early 2009 following finding oil in a similar sized prospect as they are about to drill could be well over $1.00 if they hit oil in the first drill and oil let alone the other 3 drills before the end of the year.
In the meantime me thinks Boysy is getting ahead of the game. At the moment the company does not even know it is involved in a drill as I am sure if they did they would tell us. Not the making of a company that's SP is about to go north. So lets just wait and see if the SP can even get to asset backing which must be 15 or 16 cents NZ.
Digger do you believe Ppp are not involved in block 121 ?
In regards to the drilling schedule it's available for all to see
http://www.panpacpetroleum.com.au/pr...lling-summary/
Have you heard different digger ?
boysy - if 121 hits oil then that highgrades the other prospects
premiers last 4 drills have all been successful and they know a lot about rift plays in Vietnam
M
[QUOTE=boysy;411040]Digger do you believe Ppp are not involved in block 121 ?
In regards to the drilling schedule it's available for all to see
http://www.panpacpetroleum.com.au/pr...lling-summary/
Hey I was only trying to be funny. Naturally I Know and PPP know they are involved in this drill but as they have not yet said so I took it as an opportunity to stand it all on its head by suggesting the opposite.
currently I do not bother watching the SP relative to the asset backing,but it is at least 3 to 6 cents under the value if sold tomorrow.
The one point I am serious on is that if PPP is involved in a success the SP will not go up like it did in 2008. Last time it came back down so this time the market will be much more careful and demand proof,so I see an upside but very unlikely to be a repeat of 2008.
Digger PPP petro vietnam cannot back in like happened in block 07/03 in 2009. PPP have 15% holding in this block the same position as they initially had in block 07/03 before pertro vietnam clawed back 10% after the oil discovery. Its hard to see why it cannot run at previous highs if they find oil at least this time they will have a 15% holding whether oil is found or not.
In regards to Oi this is standard practise to have back in rights albiet at a significant premium. If PPP is fronting USD$20 mill and they hit commercial oil this should get them back around USD$110 million almost twice the current market cap one must remember.
We must all admit management are our worst enemy at present they seem content to let the drill bit do the talking lets hope it does increase shareholder value.
Someone wanted a few pop today up 1.5 cents to close on 14.5 cents and sell depth dying away
Yes plenty of volume going through in aus we need plenty more volume going through however
I wouldn't expect a lot of the sellers to be hanging in there as the latest drill goes on....
its a relief there is now some interest in ppp and sp may add a few more cents by end of the week
biggest gainer in % in nz today may cause more interest as well
M
no drill report this week - origin and Vietnam I guess is the reason.
but hopefully the drill bit is doing its thing and now about halfway to target.
one thing I do wonder is why the delay in spudding when rig should have been on site early june - like it was there for maybe over a week before spudded.
perhaps the rig was fitted with high pressure drilling capacity after having to stop drilling for Salamander in Indonesia when they encountered the very high pressure gas kick
if 121 is likely to have any prospect of a high pressure gas kick then IMO it would be prudent for Diamond Offshore to install the high pressure drilling capacity.
notice Diamond offshore latest rig status report still details 12 days mobilisation to 121, but now details the rig will be there until late july ie 6 weeks of drilling.
that implies there will be quite some time available after reaching target depth to do other things
testing - sidetrack to other side of fault.
Also the drilling status report confirms 2 drills for premier in 07/03 - thus the option to appraise crd again has been taken up
back to back drilling until late October for PPP
exciting
M
Thought id get this puppy moving today. Agreed machine...exciting!!
as at 14:04:33, Friday 28 June, 2013 (NZT)
MINE: PPP: Vietnam Block 121 Exploration Drilling Update
PPP
28/06/2013 14:04
MINE
REL: 1404 HRS Pan Pacific Petroleum NL
MINE: PPP: Vietnam Block 121 Exploration Drilling Update
Vietnam Block 121 Exploration Drilling Update
Origin Energy (Song Hong) Pte Limited ("Origin"), the operator of the Block
121 Production Sharing Contract, offshore Vietnam, have reported that at 0600
hours on 28th June, the Ca Voi-1X ("121-CV-1X") exploration well currently
being drilled by the "Ocean General" drilling rig, was at a measured depth of
1571m BRT (below rotary table) and had set the 13 3/8" casing. The well which
is being drilled in a water depth of 270m was spudded on 15th June, and has a
planned total measured depth of approximately 3771m BRT.
The 121-CV-1X well has been designed to evaluate the hydrocarbon potential of
the Whale prospect, an unconformity and tilted fault trap, targeting
Oligocene clastic reservoirs. The well will be plugged and abandoned after
the evaluation is complete.
Participating interests in Block 121 are:
PPPV121 15%
Origin 45% (operator)
Premier Oil 40%
finished down though on the day in nz
I still think if successful then they will sidetrack it to other side of the fault - ppp drilling plan details spud position exactly on top of the fault and they have to deviate it to target zone
2 weeks and should have an inkling of what lays ahead
M
on a trouble free basis the hole must be @ about 2,500m brt by now - starting to get near target zone
expect another casing point will need to be set though.
M
amazing, in 1 trade for just 15,000 shares ppp jump to 13c and top out todays gainers with 10% increase
IMO it shows that it does not take much for ppp to move [hopefully up] and they are poised to climb very sharply on the sniff of good news
the Vietnam drill has a seal risk - if that is found to not be an issue then it upgrades the other prospects near by [large prospects]
maybe even the deepwater ones as well
ppp could be 40c this time next week on the sniff of success or [10c on a duster]
I prefer the former and apart from helping my share tipping it would also help my pocket
M
there are still some sellers round
giday machine...I really enjoy your postiviness....(I could never spell).....Ive been a holder (45000) for while because I had faith in the story....are we a forgotten breed i.e. accept that a entity will do well ...eventually......
now approaching the stage in the drill that there could be an announcement any day effective Monday
nailbiting time next week
M
The machine I think we may be a bit eager for news my bet they still have a way to go to get to the Oligocene classic structure they are targeting as of last report on the 28/06 they had yet to drill half way to TD by the looks of the initial spud Ann it would appear we are interested in the last 500 m or so. In other words we needed to drill another 1700 m from last report on the 28/06 to be in the pay zone as such my bet an announcement a week Monday.
boysy - its now 8 days since drilling ahead after 13.5" casing set - rig should be able to do 125 - 150m m per day, so should be past another casing point come Monday and be at least 2,500m brt
the syn-rift unconformity is @ approx. 2,500m brt - pay zone after penetrating that IMO
sure the Oligocene is another 1,000m lower, but the syn-rift unconformity is the first critical point and an effective seal at this point significantly de-risks the prospect, along with other nearby prospects
Monday is day 10 after 13.5" casing
M
Lets hope premiers rate of finding oil holds and this is the 5 find from 5 holes. Still hard to comprehend the lack of interest I think you may be dead right any hint of oil and this will double and go from there.