About a month ago i posted that NZO was in a big waiting period. It still is and if anything the waiting is getting longer.That is in short most of the SP problem.It will correct but not for now.
Casa del Energia,you bring up some points.Here are my thoughts on them.
Great that Romania is gone. I spoke with DS before the AGM and he had many thoughts on why Romania could be a good deal.But it could also be a sh-- lousy deal if we end up drilling someone else well like PPPV did.He got my thinking that far flung deals have a lot of hidden problems and if i have in any smallest way influenced the directors to think carefully then i would love to forever stand by it. We have enought here in NZ and AUS to keep a small company busy.Amen to that one
Kupe revenue capatilised. So what .TUI was at that same stage. Kupe has not got in the swing of it yet but soo will. NZO waiting just a bit longer but getting there.
Tech glitch on TUI. Negative way of seeing it.Probably about time to stand something down to replace it with something that in the long run will preform better.
Albacore written off. Yes but well recorded.
Pike delays. Again i agree but the market is well informed here as well.But surely some day.Actually i would like NZO to have a serious look at picking up the PIKE short fall--at a good value naturally.
PPP drills ifffy. Here you have hit the nail square on the head.Amatures---wish i had sold but hind sight has little value.There remaining value is mostly TUI and the near drills.
Hoki delays. Would you believe that TR felt that all 4 wells would be finished by end of FEB but end of March for sure. Well this is oil drilling and the best of plans get forever pushed back. I just hope it gets done B4 winter says it can not be drilled this season.
so in summary i feel the SP is mostly reacting to the delays rather than hard negative news.You would think the near Tui wels had been drilled and are dry by the way things are going.
My biggest concern you did not mention is the acreage just north of Albacore that we have 100% of. Is it now of less value with albacore dry ,the market would say. That may well be true but if remember KIWI was dry and it was just west of TUI. Had Kiwi been drilled first would we then say the area is dry and walk away.
Guess all those new directors we have been putting on the board in the last 5 years with their geology expertise had better get on with working out our best path forward.