the govt has canned any further gas or oil drilling
http://www.nzherald.co.nz/business/n...ectid=12031070
http://www.nzherald.co.nz/nz/news/ar...ectid=12030956
we can put a timeline on decreasing earnings for genesis and the govt
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the govt has canned any further gas or oil drilling
http://www.nzherald.co.nz/business/n...ectid=12031070
http://www.nzherald.co.nz/nz/news/ar...ectid=12030956
we can put a timeline on decreasing earnings for genesis and the govt
10yrs of gas left before it runs out , i dont know if the power companies were planning on building more to replace the gas used for electricity? genesis will need to keep burning the coal? that be bad for the environment guess the govt never thought about that
When you go overseas ,which I am lucky enough to do every year, you see that what is being done here with oil is close to normal in Europe. We have been backward in addressing climate change issues and it will cost us in trade areas. The last 6-9 years will be seen in time as this country standing still . Gas fields of the SI are pie in the sky and always have been.
I think this actually might be "price positive" for Genesis. I'd have to have a look at that retail presentation again by the CFO the other week but that next phase of getting the rest of the gas out of Kupe is mostly through "on shore compression" I recall ie no new drilling.
I wonder if NZO now regret selling their 15% in Kupe for what must now seem like an awful bargain.
I'm wondering if I have subscribed to DRP on the 10/04 and have deposited today in my account is because it wasn't enough time to process the DRP? Does anybody knows about it ?.
Looks like the DRP closed on the 6/10 so you may have been too late?
I see the current share price is almost the same as the DRP strike price now, so you haven't really missed out on much at all.
https://www.nzx.com/announcements/316627
On a completely unrelated matter: has anyone else noticed that genesis's oil sell price is consistently lower than the market rate for oil? Our oil is being sold for $56 bbl (barrel of oil) when oil is currently going for $70 bbl. What an absolute waste.
http://nzx-prod-s7fsd7f98s.s3-websit...833/277751.pdf
Rob Oram spoke about gas prices to Kathryn Ryan and brings some common sense to the debate (discussion about gas starts just after 15 minutes):
https://www.radionz.co.nz/national/p...tator-rod-oram
- He noted that there is still scope for new onshore exploration and discovery in Taranaki; where the infrastructure to use it already exists
- 45% of gas is used to create Methanol (a cheap commodity) - debatable value to NZ economy
- Compared NZ gas prices ($26.20USD/GJ) with those in the US ($9.20USD/GJ) so NZ gas prices from established field is already much higher than international market
Bobdn, they lock their sales prices for oil with forward futures contracts...sales were well above spot prices in recent years when oil was very low, as low as $30 barrel.
When oil peaks up they will lose out a bit but you can't have it both ways.
I thought their latest quarterly update was actually very good and am a little surprised that the SP has come under pressure.
Anyone got any thoughts why ?