boysy I was also factoring in oil production profits from the remaining ppp share of the hoped for 11 million barrels .
It is a big gamble for ppp but they can afford it .
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boysy I was also factoring in oil production profits from the remaining ppp share of the hoped for 11 million barrels .
It is a big gamble for ppp but they can afford it .
I agree the market is factoring no success would be good to ppp actively promoting what they are doing
My hope is they saved the best until last.
NZOG have good diagrams and explanatory notes for the pateke 4-its a long horizontal drill in shallow but laterally extensive sandstones . resource size is small and I fear it could it already have migrated-but probably hasnt?
I would love to see similar pictures for the 5 times larger potential of OI..
The exact depth of the captive structures is critical and hopefully they will have more accurate seismics this time
Digger what would you put the odds for a commercial find at oi?
Has knowledge and technology advanced sufficiently to improve the odds ?
To be so close to tui-?8k and in a similar structure surely the odds must be good?
#2001
Thanks Fish
BB
Really? If it was that much, I'd be game. Do you have a link to this, or is it speculation? I find it crazy that PPP aren't forthcoming with this number as it's very significant and material commitment they have. Shareholders deserve to know the risks and rewards, right?
I'm thinking they would have negotiated maybe 2 times. That's me being cynical though....
Has anyone else seen this play out in oil and gas before and what an industry average is?
Well this must be good. Looks like they have to wait for horizontal drilling to confirm commercial quantities.
https://www.nzx.com/companies/PPP/announcements/247902
Any oil experts out there? When they started drilling, what sort of % success rate would have been factored in?
It would be nice to see a good ole fashioned oil strike again
The old bubbling crude....
To hell with the NZ economy. This is about for me my economy.
We now just have to wait for the horizontal section. We are certainly not there yet as things could go wrong. As NZO says it could be depleting even if the theory predrill says It won't be. Also a number of other things could go wrong. Who is to say for sure that the resource rock is as good as the rest of the field,and as yet no figure on how deep the oil column is. Early days but I do like PPP point that it is encouraging.