All this negative talk about PRC im suprised their shareprice isnt around 50c. Seems to be holding up well
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All this negative talk about PRC im suprised their shareprice isnt around 50c. Seems to be holding up well
Ratkin,
I'm not so negative about PPP - in fact I have a bid sitting at 36c where to me it looks like the sp is experiencing some support. At 50c however I may have been more negative.
Assuming the DOW does not drop again below 10000, and there's not more bad news to be announced by mgmt, I'm guessing PPP will bounce back north well enough. Its prospects still ain't half bad.
Although PPP have so far lucked out in their drilling in Vietnam and Timor regions, they still have a significant amount of cash, & they are closely linked with what NZO are doing. At some stage in the near future there is going to be further drilling in the Tui area, and if oil is struck there it is going to be a major success for both NZO and PPP. Personally I don't know why NZO drilled first at Albacore....it was always going to be a long-shot and the fact that nothing was found there has added to a 'bad news' feel around the company when combined with the PRC situation. Overall there is reason to be positive though; Kupe is a happening thing & those revenues will start to roll in, and no-one is going to abandon PRC now after so much dosh has been invested. It will be a happening thing in due course - probably 2011 - and when it does hit full production NZO will benefit from the revenues inherent in being a 30% stakeholder.
According to the Herald bidders are being sought for Taranaki's onshore Kahili gas field, which was operated for a short time in 2004 by Austral Pacific Energy. Production stopped when the well unexpectedly filled with water, but reserves were estimated at 4 billion cu ft of gas. Crown Minerals said that the field failed due to an aggressive water influx into the small reservoir compartment that was tapped by the production zone, but a well placed further sidetrack could recover more gas condensate. The block offer is closing on May 3.
*******Get in there NZO*******
Disappointing that Kan TAN 1V is still tied up with Rockhopper whilst the tasman has been as flat as a lake
Origin Energy, on behalf of the T/18P Joint Venture, advises that
as at 06:00 hours EDT on Thursday 11 February 2010 the current
operation at Rockhopper 1/ST 1 is pressure testing the BOPs prior
to undertaking a wiper trip and running a wireline dual packer
formation sampler.
The prospective target reservoirs were encountered between 40
and 60m deeper than in Rockhopper 1 as mapped. Consistent
with the results in Rockhopper 1, these sands varied in thickness
between 1m and 9m.
An extensive wireline probe sampling program has been
undertaken and recovered oil from 2 sandstones and formation
water from another. Several other sands did not yield reliable
formation pressure data or samples and may be hydrocarbonbearing,
but of lower permeability. Sampling of these
potentially tighter intervals will now be attempted using the
wireline dual packer formation sampler over the next few days.
It remains too early to speculate on the commercial significance
of the Rockhopper discovery.
kan tan IV is pulling casing before plugging and abandoning, then its off to nz looking for hoki
M
thanks for that summary logen 9 fingers...
lol... i like it...
Its a pity that NZO pulled out of the Romanian ADX connection...
I wouldnt be surprised if NZO make their own moves in the region soon...
as for drilling,
line em up like skittles and NZO will surely hit one of these exploration wells...
havent really had an itch to reinvest until now...
surely its gotta be this one.....
hehehe...
I will have a better look at the prospect and consider it as im not buying ADX no more based on NZO pulling out...
:cool:
.^sc
With drilling for hoki imminent followed by near tui developments wells I wouldnt procrastinate too long .
I am tempted to sell my cue in order to buy more nzo .
I havnt really followed cue too closely-out of cue and nzo which do you think has the best short-term prospects(ie under 3 months )
NZO has the best prospects in the next three months. But that is fairly obvious. They have a drilling campaign about to kick off.
I'd back CUE over the next 12 months though. Why?
Bedding in Maari cash flow
flow testing manaia and m2a
Artimis drilling
Caterina farm out and drilling
Quarterly tomorrow isnt it ? some expecting glad tidings going by the nice wee rise today