One can only assume that there was some down time as production shouldn't drop away that fast. Maybe it could have something to do with a shipment of oil?
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From the HHG sp valuation
NZO has current upside potential as follows:
• Further Tui upgrades There is scope for further field
upgrades in the coming months
• Momoho gas/liquids commercial discovery – Momoho is
to be drilled in May/June 2008. NZO expressed their
belief that this may hold 200bcf of gas and liquids (120pJ
gas, 8mmbls of oil and 500kT LPG) which we estimate
very approximately to equate to a value of US$120m or
perhaps NZ$0.45 extra on NZO’s share price.
• Kupe upgrades – The Kupe field could be upgraded
following the start of production (mid-09)
From memory, just before end of June the production rate dropped off and NZO reported on this web site that bad weather had affected production. I don't know what weather off the 'naki has been like lately but judging by what has hit most of the country (except sunny Hawkes Bay :)) I'd say that might be a likely cause for the drop off, rather than what would have to be a rather extreme increase in the water cut. Can only hope :confused: (but it would have been nice if NZO could have included a reason with the production figures :rolleyes:)
The weather has been pretty rough on a number of days lately. That will interfere with both production and offloading. It is winter. They are operating offshore in the Tasman.
Fish,
http://www.onlineconversion.com/energy.htm reckons a billion cu ft of gas is about equivalent to 26,000 tonnes of oil. So 200 bcf would be around 5.2m tonnes, and 15% of that about 780,000 tonnes
mIngeathinaikoS, mALCOLM,s TYPoGRAFie @ SPLling????????!!!!! i ThInk it/s dilbrate, misefl
nzo website went missing for a while.
the last 1,000m for momoho went pretty quick.
will they do coring now as drill deeper or drill through the structure, then backup to 2800 m and sidekick, to core the best zones.
will be a week or 2 of interesting reporting.
will it be daily?
M