http://www.stuff.co.nz/4735868a13.html
interesting...
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http://www.stuff.co.nz/4735868a13.html
interesting...
Ya, re-reading that it sounds like absolute crap....
"The rock lacked the permeability for oil to flow, and had only become viable because of extraction technology breakthroughs."
So you've got artifical lift for starters. They haven't even drilled yet and rigs are in very high demand, could be a couple years before they put a drill bit in the ground.
Then you have net recoverability of course, which could be a very small percentage of whats actually there.
http://www.stuff.co.nz/4736069a13.html
Initial reports of oil discovery "misleading" according to above article.
From stuff.co.nz
A bit of reality perhaps.
Massive oil discovery reports 'misleading'
By AARON LIM - BusinessDay.co.nz | Wednesday, 22 October 2008
Big oil on East Coast?
The Petroleum Exploration & Production Association of New Zealand (PEPANZ) says reports suggesting 12.6 billion barrels of oil could be discovered in the East Coast Basin were misleading.
“The company’s [Trans-Orient Petroleum Ltd] assessment of the prospect for oil is an estimate of potential, not a discovery of oil,” PEPANZ executive officer Pfahlert said.
“It is completely hypothetical.”
Pfahlert was responding to news stories which reported Canadian oil explorer Trans-Orient Petroleum Ltd as having found at least 12.6 billion barrels of oil on the East Coast Basin.
The surveying permits held by the Canadian company identified conditions which could indicate the presence of oil, but it was not a sure thing, Pfahlert added.
“There is no guarantee of the volume of oil underground. The only way of confirming there is oil is to drill. And no wells have been drilled there since 2001,” Pfahlert emphasized.
When I read the original article this morning, it stated that they'd found 12.5M Barrels and that was from exploring only 10% of the permit, inferring that further exploration would yield similar results.
Absolutely terrible reporting.
Trackers
You're onto it ;)..........oil shale extraction is a very expensive process.
Yes, it is being developed in the US, BUT with the help of subsidies/tax relief etc etc, even when the POO was high.
Maybe in years to come but not now.:eek:
It was interesting reading but ...daaahhhhhhhhhh ..not for me.
Oiler
digger - am not in favour of a BB as it signals nzo have nothing better to spend the money on.
further dividend policy development would be welcome.
hows this for a question one could ask [maybe with earlier email to nzo so they can prepare]
what is the deemed cash position in nz$ if all foreign currency was to be exchanged on day before agm and also shown per share.
this is putting the kupe project loan to one side and the receivable etc for the sake of the exercise.
there has been much speculation how much it would be.
in event nzo can't show it for whatever reason at the agm, then how about detailing it in the quarterly report [using deemed position as atday before agm]
IMO shareholders would welcome this info
M
Machine,i can not truely understand your question as by in large NZO more or less does that anyways.My thinking is that in making a value assesment it has to be a range giving probability of various outcome.This would also be true if you were to do the same with your personal cash value,as many things would impact on the accuracy of that figure.Personally i have not had a problem with the rough asset value as from NZo,knowing it is as good as what i could give from my own.This is especially so if intangible assests are to be included,and sales that may or may not achieve previously agreed values.
The contact energy will be very interesting today.Am wondering if NZO is planning to use ACC to ram through there director grab.If so some govt work after our AGM.