There was speculation that this may be on the cards but nzo sold their shares last year which to me put an end of that theory
Printable View
nzo should get a lot of pr next week with the petroleum conference in auckland, then come march 20 should have reached the 10m barrels for tui.
coupled with kupe gas logs from K6 then nzo might crack the nz$1.50 by end of march.
M
Malcolm my old mate you described the shareholder types better than i ever could. Mums Aunty would have to be NITA. Sons mate would describe the blue eyed brigade, and dads aunty could be some of my heel nippers. Back for two days couldnt resist adding a few words of wisdom to balance the garbage about peak oil or the price of oil measured in a tanking American dollar. Beware guys the market in general is going to take some big hits this year, its not the place to have your savings.
In the NZX share competitions only 13 out of 125 entries are in the black.
In the ASX competition only 5 out of 147 entries are in the black.
Last year i was leading the ASX competition with my nickel stocks about this time, this year i sit with my money in the bank watching the markets tank.
Anyone that thinks a company is above the market sentiment is due for a shock. 2008 will be a very bad year in general leading up to a major crash. The dopes that spread their investments accross the board like eagle sh*t over the countryside must be down about 20% at least this year. NZO should hold its price but pass the parcel will not be much fun. Look out for a bad day today guys 8.5% in the bank is a winner saving up to buy the road kill next year. Macdunk
The North Sea of the south
By JAMES WEIR - The Dominion Post | Monday, 10 March 2008
New Zealand may be the southern hemisphere's answer to North Sea oil, according to a leading geophysicist, with the potential for finding billions more barrels of oil off the coast.
The New Zealand Petroleum conference kicks off in Auckland today, a few days after world oil prices hit a high of US$106 a barrel.
The Kiwi exploration sector is also buzzing over the better-than-expected offshore Taranaki Tui oilfield, which is producing about 45,000 barrels a day. About 2 billion barrels have been discovered.
But GNS exploration geophysicist Chris Uruski says many more billions of barrels may yet be found off New Zealand's coast, possibly in water as deep as 2000 metres.
Big sedimentary basins Deepwater Taranaki and the new frontier area of the Raukumara Basin off the East Cape may yield oil, while the Great South Basin off the bottom of the South Island is already being explored.
The high price of oil should have a positive effect on exploration, which so far had barely scratched the surface in New Zealand, Mr Uruski said.
A survey of Deepwater Taranaki showed three large prospects that could each hold up to 1 billion barrels of oil, though the prospects were well offshore and therefore expensive to explore. "One [the Romney structure] could hold 3 billion barrels.
The potential is quite large, but realising that potential is another matter."
Romney is about 120 kilometres offshore in deep water, though even at 2000m drilling is possible.
It would take a company with courage and deep pockets to explore Deepwater Taranaki but if a big player arrived, it could trigger a new wave of exploration, Mr Uruski said. Players were already sniffing about Deepwater Taranaki.
Mr Uruski said that early seismic work on the Raukumara basin suggested that area could also hold billions of barrels of oil.
About 10,000 sq km of the region held source rock, which could be expelling oil, with a potential capacity of about five million barrels for each square kilometre.
"There could be about 50 billion barrels," Mr Uruski said.
American oil giant Exxon Mobil and Austria's OMV are already exploring the Great South Basin, with a decision on drilling expected in 2010.
However, any development could be a decade away, according to the Petroleum Exploration and Production Association
The consortia will implement analysis and drilling estimated at $1.2 billion in the next five years.
With shares in the Maui and Pohokura gas fields, OMV is already a player in New Zealand. OMV has a 69 per cent stake in the offshore Taranaki field Maari, which is due to yield its first oil later this year and could contain as much as 50 million barrels of oil.
In a few months, the Government will offer blocks of onshore Taranaki land for exploration, and New Zealand Oil & Gas has already indicated it may bid for some.
Australian firms such as Origin Energy and AWE are exploring here, as are locally listed NZOG, Austral Pacific and Pan Pacific.
Duncan. you were expecting a hughe hit today. Nope... i just checked the sp and so far today there is no change
You are quite wrong NITA i was expecting a little hit today which is happening right now. It all depends on the overseas markets in what they get up to, we only play follow the leader.
NZO are still trying to reach its peak from years ago even with all the good news out, you are still playing catch up. Any huge hits in our market comes after overseas markets take a tumble. 2008 will descend into a very bad year the brain dead hold at any price will find out as the year progresses. NZO are in a good position in a very bad market how it ends up is anyones guess.
Its good to see my mate MICK100 following me about name calling like a primary school kid simply because i have a different opinion, grow up MICK you must be losing heaps right now. I expect the big hit to happen at the end of this year so good luck all i will be back to pick up the road kill. The pass the parcel event wont be much fun but who knows in this market. Macdunk
MacDunk - I would have thought an expert investor like yourself would be utilising a CFD account and be short all the large stocks on the market including NZO. Time is money - you are suffering huge opportunity cost by having your money in the bank!!!
sorry to dissapoint you macklunk - I'm actually up for the year so far
As dsurf points out, there are other strategies that can be used other than being long equities
Along with my share investments account,
I run a commodities account - up 140% this year (10 weeks);)
Your so fond of charts macflunk, why don't you have a look at the charts of crude, gold, silver, corn, sugar etc
Anyway, I'm glad (particuarly for your wife's peace of mind) that you have realised that you were out of your depth in the markets - maybe fishing will bring you better luck.:D
Duncan - shame on you for not knowing how NOG will end up; doesn't your chart tell you how the share is going to perform??
Not too busy to not keep away from this site! I guess it is addictive!
Poor Dunc, still hanging out on NOG corner:rolleyes:
I agree Airedale......... there seem to be a few vicious attackers of the Dunc.
I am going to throw out a challenge.....all you MacDunk haters ( you know who you are :eek:) Come to the next Auckland get together and challenge the man in person!!!!
Maybe he is purposely trying to wind you all up? but that doesnt need a vicious attack back
Come meet the man in person in April..... you may be surprised when you meet the ole bugger :D His bark is worse than his bite......
Next Auckland meetin will be in early April
Oiler
wait for it.......... not one of his hench man !!!!
I am not sure if they are old enough to get in oiler going by the childish abuse. It would be nice to see the whites of their eyes, but i expect the brain dead to remain in hiding. I will make every effort to be there, look forward to seeing if they are as spineless and childish in real life. Macdunk
McDunk is correct in that we seem to be seeing a major correction occurring. Whether a crash occurs down the track is anyone's guess. However, NZO seems largely immune - the way the market is behaving all NZO has to do is to keep treading water like it's been doing lately and it will rise into the NZX10 as others drop around it.
Gee even I can see its a correction!
What required now is shovel to pick road kill… :D
And an optician to assist the blue eyed brigade and a surgeon to help the brain dead!
.
Grumpy McKlunk
Please do a bunk
Please exit da board
B'off to sea with a sword
And catch a fishy hoard
To make up da dough
You've tossed overboard
What a way to go !!!!
Isnt it great. Without md this thread would be dead already just like the brain dead.
I was thinking about the 1990's where people won and lost on the .com. Now i see md fitting into that category over the last couple of years with his 50 baggers and some of his other investments. Therefore, i would like like to propose some names for the man who made something out of nothing.
.macdunk
dot macdunk
Hot Dot Macdunk (after a famous golf ball brand)
Dotty Macdunk (my first choice)
.com macdunk
.md
Guess what Dotty. I am back in town for a short while in middle of April.
I suggest we have a night out on the town, eg dinner, drinks, drive etc or catch up at a sharetraders meeting .
How about we go to MacDonalds for a bite to eat before we go to the pub and have a few ales (of course Macs Gold). After of which if your not too drunk to drive we can hop in your Big Mac back to old Macdonalds farm. Then we can get down to some serious stuff like looking at your Mac charts to plot out the next lot of mac winners.
Seriously though big guy, this thread would be dead boring without you. keep up your posts so can contiune the fun.
Isnt it great. Without md this thread would be dead already just like the brain dead.
I was thinking about the 1990's where people won and lost on the .com. Now i see md fitting into that category over the last couple of years with his 50 baggers and some of his other investments. Therefore, i would like like to propose some names for the man who made something out of nothing.
.macdunk
dot macdunk
Hot Dot Macdunk (after a famous golf ball brand)
Dotty Macdunk (my first choice)
.com macdunk
.md
Guess what Dotty. I am back in town for a short while in middle of April.
I suggest we have a night out on the town, eg dinner, drinks, drive etc or catch up at a sharetraders meeting .
How about we go to MacDonalds for a bite to eat before we go to the pub and have a few ales (of course Macs Gold). After of which if your not too drunk to drive we can hop in your Big Mac back to old Macdonalds farm. Then we can get down to some serious stuff like looking at your Mac charts to plot out the next lot of mac winners.
Seriously though big guy, this thread would be dead boring without you. keep up your posts so can contiune the fun.
http://www.stuff.co.nz/4433620a13.htmlQuote:
Industry buoyant as gas reserves grow
By JAMES WEIR - The Dominion Post | Tuesday, 11 March 2008
Gas reserves have grown significantly in the past five years and more may be discovered, broker McDouall Stuart says.
In a report presented to the Petroleum Conference in Auckland yesterday, McDouall Stuart researcher John Kidd said the overall theme of his assessment was "optimism".
....
There was also "ongoing speculation" that Maui, Pohokura, Kupe, Mangahewa and Turangi gasfields might all hold more gas than estimated.
Bloomberg: http://www.bloomberg.com/apps/news?p...xjE&refer=home
Quote:
Crude Oil Rises Above $108 to Record as Returns Outpace Stocks
By Mark Shenk
March 10 (Bloomberg) -- Crude oil rose above $108 a barrel in New York to a record as investors purchased futures because the returns have outpaced those of financial markets.
Oil in New York surged 80 percent over the past year as the S&P 500 and Dow averages dropped. China, the second-biggest oil- consuming country, increased crude-oil imports by 18 percent last month and halted overseas shipments to meet rising demand. Gold, platinum and other metals that have surged with oil fell today.
``Momentum coupled with sufficient fundamental underpinnings, such as the Chinese oil-import data for February, keeps propelling us,'' said John Kilduff, senior vice president of energy at MF Global Ltd. in New York. ``The grab for hard assets is on due to the lack of confidence in the rest of the markets at the moment.''
Crude oil for April delivery rose $2.75, or 2.6 percent, to close at a record $107.90 a barrel at 2:47 p.m. on the New York Mercantile Exchange. Futures surged to $108.21 a barrel today, the highest since trading began in 1983.
Brent crude for April settlement climbed $1.78, or 1.7 percent, to close at a record $104.16 a barrel on London's ICE Futures Europe exchange. Futures reached a $104.42 a barrel today, an intraday record.
Prices are heading to $120 ``in the short term,'' said Matthew Simmons, chairman of Simmons & Co., a Houston investment bank. ``I'm one of the few people who's not surprised to see crude at $107. I still think it's a bargain.''
Fund Buying
``We're witnessing an ongoing flow of fund buying, which isn't particularly motivated by the particulars of the petroleum market,'' said Tim Evans, an energy analyst at Citigroup Global Markets Inc. in New York. ``Prices have rallied to such an extent where sellers have backed off. Any time prices go lower the buyers come right back into the market.''
Hedge-fund managers and other large speculators increased net-long positions, or bets on higher prices, in the week ended March 4, the Commodity Futures Trading Commission said.
Nothing sweater than a repeater aye malcolm
"NZOG was looking to expand through its oil and gas production at Tui, Kupe and new prospects in Taranaki and also through acquisitions."
OK am going to put my neck out and predict a good rise today (i.e 2-4c).
Oil prices seem to be bedding in above $100
Strong rally in US markets this morning
Continued good publicity of the coy, awareness must be sinking in.
Small selldown in last couple of days, 128 has to be an attractive entry point..
Everyone complains about high petrol prices, why dont they just hedge it - buy NZO!!
Disc: Long a decent amount
While the rising OBV is bullish, NZO seems to be hitting repeated resistance at $1.32.
The chart shows the latest price of $1.30 - the Close may well be different.
http://h1.ripway.com/Phaedrus/NZO312.gif
Three times so far, Bilo. ??Coming up to a fourth??
Buying opportunities are found at support, not resistance.
A clear break above previous resistance is Bullish and often taken as a Buy signal.
Are you saying phaedrus that it is time to short? since resistance is only 2 cents away and support 28. Do any other indicators make the picture clearer?
You would be fairly brave shorting NZO in the face of a rising OBV, an intact uptrend and an unbroken confirmed trendline.
I don't see the situation as unclear. In my opinion, right now NZO is a Hold. Not a Sell. Not a Buy. Not a Short.
I'd have to agree that it has bounced of the 132 area fairly regularly the last couple of weeks. Hopefully more insto/fund interest can push it onwards and upwards.
But with a significant amount of oil still in the ground and crude prices continuing ever upward (and the kiwi flat to turning downward), NZO is going to generate some outstanding numbers over the next few years, even excluding any new strikes.
On that note the presentation to the conference today was fairly positive about a number of prospects that NZO has rights to.
Something to watch.
Disc: Long NZO
According to the above Phaedrus’s graph, it seems that “resistance” can also be seen as “buy” if it has been broken. Now it’s the time for the company to show its hands to do a market share buyback to stimulate the share prices to break the resistance line to get the “Trading range breakout BUY”. Am I right, Gurus?
Cheers
My pick thanks again to Phaedrus's post is to short - It had a previous shooting star candle with susequent down days.
The chart is starting to look like the beginning of a top at the last resistance test that I successfully called last time.
I would only be a buyer of this stock when it has confirmed a breakthough of resistance with 2 higher highs & higher lows days.
To me this chart looks like a big boys traders dream to get in and out to make quick big bucks, more than holding for the long term!
Why is has this price climbed, when AWE the bigger holder of Tui has dropped??? - Rampers or professional players????
Buyer beware
they are all having their own directions..just like all the stocks each of the ppp awe and nzpo are being oversold or overbought at different time perioids. also remember that the others dont have pike and kupe and awe and ppp have others we dont...
ppp looks like the bargin at the moment compared to awe and nzo since it is so heavily in tui compared to market cap and couple with oil prices
tui now less than 10 days to reach the 10m barrels as nzo today showed approx 9.6m barrels produced as at march 12.
production average since jan 1st has dropped to approx 45,000/day , so that means they producing in low 40's now
the milestone likely to be reached during Thursday March 10 and if the consortium want to gain maximum PR out of this then they need to make the announcement during trading on the Thursday [do nzx / asx close early that day?]
otherwise it will not have same effect if left until after easter
nzo awe & ppp could all do with some positive news.
M
.
Oil breaks past US$110 a barrel ....... what will it close at today !!!! ????
http://futures.tradingcharts.com/intraday/CL_/48
.
.
New drilling report out... Nothing overly special:
Quote:
Dear Subscriber,
NZOG has released this week's Kupe Drilling Report. KS-6 has reached its planned total depth and KS-8 will shortly enter the target reservoir.
KUPE DEVELOPMENT WELLS DISCLOSURE NOTICE
New Zealand Oil & Gas Ltd (NZOG) advises that at 14:00 hours on 12 March, the 8-1/2 inch
drilling assembly was being run in to drill out the 9-5/8 inch casing shoe-track on Kupe South 8
(KS-8).
Over the last week, drilling of the 8-1/2 inch section of the Kupe South 6 (KS-6) well reached
the planned total depth of 3,385m MDRT (measured depth from rotary table); reservoir
evaluation logs were completed; the 5 inch liner set and cemented; and the well suspended.
Good to know, though, that one hole has reached its final depth - apparently without any broken bits or whatever gumming up the hole!
What is missing is any flow test information after completion of the wireline logs.
nzo have missed this opportunity to spur on their sp!
On the positive side by jumping to KS-8 brings forward the good or bad news, as this is a semi semi wildcat, a positive gas flow can substantially increase the resource
[as commented on in recent broker report]
M
NZO
13/03/2008
DIVIDEND
REL: 1119 HRS New Zealand Oil and Gas Limited
DIVIDEND: NZO: Appendix 7 - Dividend Payment
Please find attached an Appendix 7 Notice of Event relating to the dividend
payment to holders of ordinary shares in New Zealand Oil & Gas Limited on 15
April 2008. The dividend will be fully imputed.
ISIN: NZNOGE0001S6
Dividend amount: 0.05
Currency: NZD
Total monies: 13,110,303
Record date: 04/04/2008
Application Date: 15/04/2008
Finally shareholders will get a little something for their patients!
Thought perhaps we may see a wee rise in share price with this announcement.
Perhaps I have just dreamt that I read an email about a dividend?....:)
In the last couple of weeks we've seen oil prices move such that NZO is now receiving ~10% more for its oil, all of which I suspect will be going to the bottom line....
Quote:
Petrol at record high after oil hits US$110
Is the petrol price hurting you?
Motorists are now paying more for petrol than ever before with a three cent a litre rise overnight.
Shell, BP and Caltex lifted their prices at the pump overnight. That move takes the price in the main centres to $1.78 a litre for 91 and $1.83 for 95.
AA spokesman Mark Stockdale said that is a cent above the previous record high in July and August 2006 and is concerning given it has come at a time when the New Zealand dollar is quite strong at 80 cents against the US.
Mr Stockdale said while the currency is cushioning New Zealand somewhat from the shock of rises in the price of crude, he is worried about what might happen if the kiwi falls.
One company going against the trend is Gull, who are discounting the price of fuel in a promotional venture by five cents a litre from 7am today until 9am tomorrow.
The company says the move is to celebrate the last test match between England and the Black Caps in Wellington today.
On world markets, oil pierced US$110 a barrel this morning (NZ time), marking the sixth straight day of record highs, as the dollar sank to new lows and outweighed large increases in US crude inventories.
Investors have raced into commodities over the past month to hedge against inflation and the slumping dollar, sending oil to fresh peaks despite concerns about the economic health of top oil consumer the United States and rising fuel stocks.
US crude CLc1 settled up US$1.17 at US$109.92 after racing to an all-time high of US$110.20 earlier. London Brent LCOc1 gained US$1.02 to settle at US$106.27 a barrel, off a record US$106.41 hit earlier in the day.
US consumers already face record petrol prices at the pump due to soaring crude costs for refiners, prompting forecasts for petrol above $4 a gallon in some regions as the summer driving season approaches.
- NEWSTALK ZB, REUTERS
http://www.nzherald.co.nz/section/3/...ectid=10497918
I would love to see what the future brings - today I'm posting on page 199 of 210 pages it seems. Page 210 - a month or two in the future perhaps? Oil at $120 by then, Kupe found some more gas?
Worse than that I cant get direct to the last post
Too true Blockhead.....looks like a cot case to me!!!.....Im at a loss to think what f... is going on! NZO will pay a dividend first time ever, well at least in my share trading life time and we have a big drop!!!???
Yes tomorrow will be interesting! I havent read of any possible dividend so I thought the news of a small dividend today was good news and would have expected at the very least for the SP to hold its own.....whos selling all those shares at the end of days trade....I looked 10 mins before close and was looking stable, I get home now and we have done the dive!!!! and on big volume!
Is there bad news just around the corner?
Did some big investors know there was a dividend but expect more?
Lots of questions and no answers again!
Lets see tomorrow :(
The divy was actually announced back on the 27th Feb, entitlement date is 4th April and payment 15th from memory, so no surprises there.
Noodle no big players involved. The following was part of the NZO announcement on the 27th February 2008. All available on the NZO website.
Dividend
The Board of NZOG has resolved to pay a fully imputed dividend for the
2007/08 financial year of 5.0c per ordinary share. This recognises an
outstanding period and provides shareholders with an immediate share of that
success.
The Board has determined a dividend policy that in future a reasonable
proportion of profit will be distributed by way of an annual dividend.
The determination of entitlements for the 5.0 cents dividend will be taken
from the close of the share register on 4 April 2008. The dividend will be
paid on 15 April 2008.
Oh ok. Was 5cents announced?
Any ideas on why the drop?
Thanks 777, was replying to previous message and on phone to mrs when you replied to my earlier comment. Never saw the announcement of a 5cent dividend, been far to busy with work and house renovations and dont actually recall receiving an email from NZO about it....never mind...tomorrow is another Nog day!!!
Some influence from Aussie and the Asian indices perhaps. Hang Seng down 4.8%, Europe gapping down by 2% figures.
Kupe gas field has escaped into the atmosphere?
Help!!!!!
Business StoryRSS Facebook
--------------------------------------------------------------------------------
Kupe to get the good oil after breakthrough
5:00AM Friday March 14, 2008
By Grant Bradley
The Kupe field is expected to produce 15 million barrels of light oil.
New Zealand oil production has reached a milestone with one of three Kupe wells breaking into a target reservoir.
The Kupe field off south Taranaki is expected to produce nearly 15 million barrels of light oil when it comes on stream around the middle of next year.
Kupe was originally thought of as a gas field to replace a portion of the diminishing Maui field but with oil prices through the roof, up to two-thirds of its value could be in liquids.
The life span of production is estimated to be 19 years.
Drilling is on target and the bulk of the work on the $1.2 billion project is now onshore, building processing facilities to process gas, LPG and light oil from the field 30km offshore.
Further north the Tui field has been producing since the middle of last year and is on target to reach the 10 million barrel mark next week.
The major offshore Taranaki projects - Tui, Maari, Kupe and Pohokura - will reach peak production by about 2010 and bring 140 million barrels of new reserves into the market.
Advertisement
%3Cbody%3E%3Cdiv%20id%3D%22adDiv%22%3E%3C/div%3E
AdvertisementTotal oil production will then be at a record level not seen since Maui was at its peak.
An estimated $3 billion is now being spent on major projects in Taranaki and an estimated 30 wells for exploration, appraisal and development are to be drilled around country in the period between 2007 and 2009.
The message from the Petroleum Conference in Auckland this week was to expect the hunt for oil to get even more intense.
New Zealand Oil & Gas holds a 15 per cent stake in Kupe and 12.5 per cent of Tui.
Its chief executive David Salisbury told the conference New Zealand was "small fry"on a global scale - producing just 0.2 per cent of world oil supply - and suffered from its limited domestic market and labour pool.
Being geographically isolated there were few industry participants and experts and no oil infrastructure outside Taranaki. However, this country was relatively under-explored, there were identified basins with good potential and unlike other countries New Zealand offered a safe, secure location.
The company has flagged a $20 million to $25 million exploration programme for the next financial year.
With easy hits disappearing around the world, New Zealand was looking like a better exploration option, he said.
Further down the track, the Raukumara sub-basin off East Cape has shown early promise of what could be billions of barrels of oil.
Something wrong with this thread?
NITA, Nothing wrong with the thread, have a look over your market expectation with your future perception in mind. NZO are coining it in great guns, so ask the question of why the sp is not responding to all this good news. The punters think that NZO will get rich with nothing coming back other than a silly dividend to themselves. Its all in market perception, nothing at all to do with fundamentals. Forget your peak oil, or the price of it, its what the perception is of what comes back to you. Snouts in the trough, plus complete disdane of shareholders right to future intentions will see this company trade under its value until if ever a change of attitude is seen to evolve.
The very best thing i ever did was sell up, and move on. I will never invest in any company ever again that refuses to answer questions about future intentions. Hope to see you at the Auckland meeting . Macdunk
Sorry to inform you sector or is it cloud nine, that you ridiculed me at the start of the year for being out of the market. thiink you said i dont know how to trade a bear market. I doubled my money got out the market had two spec plays in place AGM and PEM. One right and one wrong, SO WHAT?. Why dont you come over and have a beer with me if you are old enough at the NAT Convention and i will explain further. I read the markets almost perfectly in hindesight, dont mind a loss in a play when waiting on the roadkill to front up. The big crunch is yet to come, as you will find out.
The end of 2008 will be a disaster take me up on that if you want at a later date, but right now i am more than happy with being almost right out the market. Macdunk
.
Grumpy McKlunk
Please do a bunk
Please exit da board
Head to sea with ya sword
And catch a fishy hoard
To make up da dough
You've tossed overboard
What a way to go !!!!
WRONG BIG GUY.
I was actually referring to trying to view the last page. Looks like admin has played around with it a little bit.
You want me to ask the question why the sp moved down? I know the reason like every other person. Exact opposite to why the sp goes up.
Dunkin.. hey heres a new name ...Dunkin or Dunkin donut... You know how they make the holes in the donut? yes of course you do.. you practised it in the mirror when you were 12 years old except the donuts were the mini ones.....moving on..
I tell you what Dunkin...if if you dont have longish hair, scruffy beard, jandals (at least at home) then the first macs ale is on me...Why is it whenever i picture you is that you remind me of billy connelly
Currently, we're producing about 5.1 million barrels of oil per day. We will go under half of the oil production of 1970, 37 years later, sometime in the middle of next year. Now this is staggering because, in addition to that, the United States Department of Energy - and I don't know how they got this past Phillip Kooning, Bobby - offered a paper describing the mitigation of oil peak downside, meaning that, after the production of oil slips below half of the peak production, at that point the energy return on energy investment becomes negative
The above bit is from TOD. The talk is about the US peaking in 1970 and next year will be down to half where ROEI becomes negative.Also and most importantly an admittion that the US has long known about Peak Oil.
digger, never mond what TOD says, what we want is the sp of nzo ppp & awe to reflect their proper value reletive to the market.
10n barrels for tui is there next week
all 3 shares way under value and we need to sell some ppp so can pay our tax bill
was hoping the tax bill would be higher but mr market has thought otherwise
M
HEY SECTOR whats happened to all my mates on the NZO thread why have they all gone quiet?.
I would bleat on about peak oil or the price of it in a falling yankey dollar if i were you to cheer them up. This is not the big crash, its only an ever increasing rumble coming up to the big one at the end of the year. Only three months to play pass the parcel, which is starting to look like a non event. Look forward to meeting some of you noggers at the national convention. Macdunk
your kidding? dont tell me the the guy is clean shaven, no freckles, glasses (computer nerdy type) tie bigger than his chest. or
Mr Dunkin is actually talll dar and handsome. Somehow i dont think i am Dunkins type
Oil stocks ought to be boiling again
By TERRY HALL - The Dominion Post
Younger investors would not believe the oil frenzy that captured the country's imagination back in 1981.
http://www.stuff.co.nz/4443018a1865.html
It is looking like the first year of Tui production will deliver about half of the estimated total lifetime output from the field that the FID was based on. All of this sold at prices far in excess of the original budget. And then there will still be as much remaining as was originally estimated to be there! A fantastic project, by any measure.
Your correct Unicorn.
I am interested in your views on Pike. This has been something of a nemisis for nzo for a long time. In saying that, Pike now is becoming a reality. Apat from my holdings in nzo i am not exposed to Pike as i always saw it as a higher risk stock. Your views please.
ps. i am convinced that Kupe is looking better and better all the time and will more of a company maker than Tui
Hi Nita. I love your evening wear.
With the current world wide frenzy into commodities,i think PIKE will surge once coal is producted.Note today is a crazy day when everything went down as always seems to happen when people are scared. In the next few days they will return and pick up the baby that was Kicked out today with the bath water as the saying goes.
Keep dreaming the price up folks, like surfin waves backwards LOL
from nzo website
Production Performance (since 30 July 2007)
As at 17 March 2008: Approx 9.8 million barrels produced, 9.4 million barrels shipped.
NZOG's share of production to date: Approx 1.23 million barrels.
the 10m barrels is getting closer.
If it is reached this fri/sat - will they be allowed to annouce it as markets closed?
M
What's so special about 10m barrels? Is there a special bonus for the directors and management, or something?
significant milestone
I believe you! Started buying NZO at 26 cents and have not looked back (I am glad I did not listen to my broker on NZO)
Picked up another 50K in rights issues last year ( which included 1xNZOOD for every NZO). currently up 25% in 1 year on that decision so not complaining.
Sold all my GPG, FPH, FPA, TWR amogst others a few years back and pretty much have 90% of my portfolio in NZO and PRC. In todays climate I think I could have done a lot worse :)
Chippie,
You are a good man.Reminds me when I sold a whole lot of rubbish and put the lot on NZO!!!...and that was at 26 cents!!
Hey, I have sold down a lot to get into some very exciting CSM plays in Queensland. BOW, VPE ,RPM etc. But I still have a 100k for sentiments sake and after having had dinner with Salisbury and the Directors...I am so glad I did.
This is fast turning into a class company.
thanks for that article Chippie...
Little CUE energy gets more of a mention than mighty NZO...
CUE is One of my favourite oilers... it has an exciting year and it has held up very well recently...
We have many oil stocks falling around us and yet NZO is up and CUE is the more of less the same... cant complain...
Next major NZ production of Maari is coming up later this year so put CUE on your watch list...
I am looking to get a position in CUE (at some stage) B4 production, after being in and out a few times over the last 4-5 years.....
Later...
:cool:
.^sc
Hey Shrewdy,
Albers is brilliant mate. This stock has a lot of credibility but there are a lot of others out there with more leverage.
It wont be a problem ( I saw the videos at the conference) but I just hate getting involved in subsea heating.
A little tip for anyone wanting to make a 30% gain.
Buy Octanex.Another Albers masterstroke. DYOR and you will see why.Not on the main board. Believe me guys, I know all about this one. I havent got any but we all deserve a few tips and this one is for you. Not a ramp. Just a matter of fact and sharing the info for anyone interested.
Still waiting on AKK? Glad I stuck with VPE over the last week.
Cheers my AMIGO!!
Disc NZO,PRC, BAS ( Albers ),BOW, PES, RPM( beautiful ), VPE, VPEO.
Whats the ticker for Octanex Brermuda? Couldnt find it on the ASX :confused:
[QUOTE=COLIN;190283]What's so special about 10m barrels? Is there a special bonus for the directors and management, or something?[/QUOTE
expect
tui partners will make a big announcement
ppp will highlight their 1m share
nz gov't making a big issue out of it
a lot of press coverage in nz and selected oil publications
sp goes up
Please remind me in 2 weeks time what happenned
M
Bermuda, you out there?
What's your take on the upcoming Momoho drill in May? Would expect to make a serious killing on the options if it encounters signifcant hydrocarbons
Hi Trackers,
Just been for a jog around the Wanaka foreshore. Man it's nice down here.
Anyway my take on the Kupe project is
1.The drilling and pipelaying has gone better than expected
2.The Onshore facilities are coming along nicely
3.More than two thirds of the revenue will come from the liquids.
4.The pipeline has 3 times the required capacity because they are confident of further finds in the CFA and at Momoho.I would be guessing but a strike at Momoho could lead to a total area upgrade of at least 50%. With comparitively little extra capital cost.
Am going up there next week so will keep my eyes and ears open.
Cheers mate.
Would have been good to have a quick beer at the Speights Alehouse but have to return early. MIL has broken her hip.Not looking good.
Enjoy the Airshow and the big Globemaster. Weather is perfect.
Bush's enthusiasm for the US economy reminds me of his enthusiasm when he announced that IRAQ was now free. ..and that was over 4 years ago. what a dipstick.
NZO is going really well with alot of support starting to come from across the Tasman.
Good stuff, good result...good upgrade
Quote:
19 March 2008
TEN MILLION BARRELS OF TUI OIL
Another production milestone is about to be reached by the highly successful Tui
oilfields off the coast of Taranaki.
New Zealand Oil and Gas Ltd (NZOG) is the New Zealand-based partner in the
Tui Area Oil Fields, with a 12.5% stake.
This morning total production to date had reached 9.93 million barrels and the 10
millionth barrel of Tui oil is expected to flow tomorrow or Friday. The production
milestone comes less than eight months after production began on 30 July last
year.
The field performance has continued to be better than forecast, with production in
February averaging 44,000 barrels of oil per day. Associated water is being
produced from the field, but this continues to be at lower rates than expected from
original field simulation models, allowing the high oil production rate to continue for
longer than anticipated.
Since the start of production a total of 30 shipments of crude oil have been lifted,
with the 31st lifting scheduled for today. The oil is sold into the east coast of
Australia or southeast Asia and is typically sold against the Tapis benchmark,
which is currently over US$110 a barrel.
The strong field performance since the start of production has led to a
further upwards revision of Tui’s oil production target for the year to 30 June
2008, to 13 million barrels. NZOG’s share is over 1.6 million barrels.
The pre-production forecast for the 2007/08 year was less than 10 million barrels;
with NZOG’s share around 1.2 million barrels.
Tui’s proved and probable (2P) reserves were revised upwards by approximately
50% in November 2007 to 41.7 million barrels. Based on the continued
performance of the reservoirs, the operator AWE is initiating a further reserves
review to match field performance against actual and expected production. This is
expected to be completed by the end of June 2008.
NZOG Chief Executive David Salisbury said Tui continues to deliver good news.
“The combination of record international oil prices, outstanding production
performance and a 50% increase in reserves, has made Tui an extremely
profitable investment”.
Tui is New Zealand’s largest oil producer and has helped set new export records
for the country since production began.
ENDS
Tui upgrade coming people, looking very good value at these levels..
Disc: Long NZO