That's the total tui production, NZOG only have a 12.5% share. So more like ~$78,000.
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Ah, of course, just hurrying a bit while getting new business sorted, better slow down and spend more time thinking !!
I make it 97,158 a day.
First tui was shut down for say 8 days of the 93 days= 85 days.
[ 2400000 /83]=28916 barrells a day.
NZO now owns 14% of Tui----12.5%+ 15% of 10% from PPP
24[dollars] x 28916x.014= 97157.76
So even at these very depressing oil value Tui is still a winner. Nearly earning ar 100,000 a day for NZO
Anyone else get a different set of figures.
Digger
With the nz dollar now under 51 cents and Tapis at $48 it looks like an evens chance of getting above that magic figure for next week .
Good to see that nzo has 2/3 invested in us dollar denomination in nz banks-with over $200m in the bank must have been further currency gains last few days.
Does anyone Know how much nzo will be getting for the lpg when kupe comes on stream .
Also what value for the light condensate relative to Tui ?
DESPITE posting lower revenues and production for the December quarter, Australian Worldwide Exploration says it is in a very strong position to continue its growth.
In the company’s quarterly report, released on Friday, AWE said sales revenue was down 44% to $140 million for the quarter due to a sharp reduction in oil prices and lower production levels.
Oil and gas production was also lower at 2.12 million barrels of oil equivalent compared to 2.52MMboe produced in the September quarter.
According to the company, the lower production was due to unscheduled production disruption at the BassGass project and scheduled maintenance at the Tui and Casino fields.
Despite the scheduled maintenance, AWE said production from the Tui oil fields remained strong with an average of 28,000 barrels per day.
The company has also lowered its production forecast for the 2008-09 financial year from 9.3MMboe to 9MMboe due to the expected natural decline in production from the Tui fields and disruption to production from the BassGass project.
Managing director Bruce Wood said that while the December results were satisfactory, the company was focused on continuing to provide growth opportunities for shareholders through a combination of exploration and acquisition activity.
“AWE has relied upon exploration as its primary growth engine for many years and this year will be no exception,” he said.
“A large exploration program of up to 15 wells in four countries commences soon, and if successful could result in the replacement of the company’s reserve base.
“In New Zealand we are seeking to build on the success at Tui; in the Bass Basin we are very hopeful of success in the Trefoil and Rockhopper wells; and in Indonesia and in Yemen, AWE will participate in four wells in proven oil and gas provinces.”
Wood also said AWE had a strong balance sheet, no debt and was well positioned to take advantage of the current financial turmoil.
He said the company would continue to actively seek acquisition opportunities that would add value in the longer term.
At the end of the half year, AWE had net cash reserves of $383 million and declared a special fully franked dividend of 10c per share.
Click here to read the rest of today's news stories.
NZO still flushed with cash while many Aussie juniors are stuggling to pay their debt from existing revenues.
You don't have to read between the lines to see that the management of NZO want to play around in the Taranaki Basin for some time yet, and are taking a very circumspect approach to how they spend their money.
It must be doing their heads in to have to decide which companies are worth having a crack at ; oh the responsibility of it all.
So far they have bought a stake in PPP, which confirms to me that they want to "stick to their knitting", at least for the time being.
Athough it must be tempting to buy into a more high reward, high risk oiler that has had it's share price pummeled over the last few months. I can think of a few that have good revenues too, such as PSA, which looks like a sitting duck.
I wonder if they will pay a dividend again?