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kittydashwood
10-06-2005, 08:10 PM
.0225 cps:D

(disclaimer calculated @ 45$pb and .71USD-NZD)

Snow Leopard
11-06-2005, 10:24 AM
Yeah right!

-0.037cps:(

(disclaimer calculated @shoe size 8 and two bottles of Macs Gold)

Anybody else want to make some numbers up[?]

Snow Leopard
11-06-2005, 10:25 AM
PS perhaps that should be two bottles of Tui.

kittydashwood
11-06-2005, 11:21 AM
I was hoping Mister W would step in with some kind of model.

Beer goggles or not

130k daily from oil by my guesstimation, the company would be looking at profit after 120 days of operating at full capacity.

Even when the start up costs undoubtly swell to at least 15 million.

Best way to spend all that cash..... Drill Hector!

Snow Leopard
11-06-2005, 03:55 PM
No offence, but I think your figures are very crude and way off (I am assuming you actually mean 22.5cps).

I had put the pre-tax profit earnings contribution of Tui over its entire lifetime to PPP at 29.5cps. (With lots of assumptions including
25mboe @ US$40 a pop and US/NZ 0.735).

Obviously you can move that higher or lower.
Also there is more to PPP than Tui, but at the moment that does not add to the bottomline.

kittydashwood
11-06-2005, 07:11 PM
None taken I meant two and a quarter cents per share.

kittydashwood
13-06-2005, 08:19 AM
MINE: PPP: PPP-APPLICATION LODGED FOR TUI OIL PRODUCTION PERMIT

STOCK EXCHANGE ANNOUNCEMENT

10 June 2005

APPLICATION LODGED FOR TUI OIL PRODUCTION PERMIT

Pan Pacific Petroleum NL advises that an application has been made to the NZ
Ministry of Economic Development for a petroleum mining permit to develop the
Tui Oil Area within exploration permit PEP38460.

Pan Pacific holds a 10% interest in the venture through wholly owned
subsidiary, WM Petroleum Limited.

The partners have also contracted with Diamond Drilling Co. to use the
semi-submersible rig Ocean Patriot to drill the four Tui production wells
next year. This action has been taken ahead of the final investment
decision, scheduled for August, in light of the tight market for available
rigs.

The venture has also secured an option to use the Ocean Patriot to drill
three more wells. It is likely that at least two wells will be drilled into
Kapuni F Sand structures which are close to the Tui development.

Contractor proposals for a floating storage production and offloading
("FPSO") facility for the Tui fields will be evaluated by the venture
operator next month. Engineering work is on schedule and capital costs are
being refined to a tolerance of 15% - while costs have yet to be finalised,
they are expected to be greater than the US$120-150m previously estimated.

Initial rates of oil production from the Tui fields are expected to be
30,000+ barrels per day, which should result in rapid payback of the
investment.

Kim Ware
Company Secretary

donner
13-06-2005, 10:40 AM
That black and white house cat must be a bit scolded. Seems to have vacated the vat. Thank goodness. Good riddance to bad rubbish. It was never a house cat anyway. Just a feral flea bitten stray.:D

kittydashwood
13-06-2005, 11:50 AM
Hey Kebabface

My brave feline did indeed meet with a terrible accident so how about a little bit of sensitivity because she was a blue ribbon champion.

Unfortunately the Chilean quarantine proceedures are medieveal.

donner
14-06-2005, 09:35 AM
Ask an Iraqi for your sensitvity. They might give a damn about you and what you think. I don't.

Anyhow, next time I see that filth ridden piece of skank, it will be with glee that I club it as if it were a seal.[8D]

As for PPP maybe we will see some direction out of Oz today on it. Its certainly been hibernating for long enough. Should be some uwards pressure as the 3Q05 decision on Tui comes to pass.

Shiner
15-06-2005, 08:57 AM
Think you may be right Donner.

Is PPP going to start following NOG ??

Interesting...?? Been good to watch last few days. Buying has been positive, but intermittent.
Watching closely.

Happy
15-06-2005, 03:06 PM
Yeah but where are they going to get their share of the capex funding.

port hills
15-06-2005, 03:10 PM
quote:Originally posted by Happy

Yeah but where are they going to get their share of the capex funding.



From the punters such as your good selves, where else? [xx(]

Happy
15-06-2005, 03:24 PM
Good luck to them!

port hills
15-06-2005, 03:37 PM
quote:Originally posted by Happy

Good luck to them!



Maybe NOG will have some spare cash after options conversion and Pike float so that they can pay PPP's share of the costs for another 7.5% of the oil field. [:p]

donner
15-06-2005, 06:59 PM
Isn't Mitsui carrying them for some or all of the cost of development?

It was a long time ago but I remember something like this.

Shiner
16-06-2005, 08:12 AM
CREDIT TO WAAIHOEK, FOR THIS ARTICLE BELOW, COPIED FROM NOG PAGE.


According to the report below, so far this year average price of crude (Nymex ?) has been
above US$ 50 / barrel !!!!

--------------------------------------------------------------------

http://www.etaiwannews.com/World/2005/06/15/1118800993.htm

OPEC powerless to rein in oil prices

2005-06-15 / Reuters /

OPEC producers, considering an increase in oil output limits, said on Monday they were powerless to rein in prices now back above US$55 a barrel.

The Organization of the Petroleum Exporting Countries says it is operating close to full crude supply capacity and can do nothing to combat a global squeeze on refined products, particularly diesel.

Ahead of a Wednesday OPEC meeting, leading producer Saudi Arabia was among several backing a proposal for an increase in formal cartel crude supply limits of 500,000 bpd, 2 percent.

"I think everybody will support it, but I don't think it will have any impact," said Algerian Oil Minister Chakib Khelil.

Ali al-Naimi, oil minister for Saudi Arabia said Riyadh was already pumping as much as it could sell and blamed refinery bottlenecks for keeping the heat under energy costs.

"You know and I know that what is driving the price is not supply - it's the lack of refining capacity worldwide," Naimi told reporters in Vienna, home to OPEC headquarters.

"Everybody is concerned about middle distillates," he said in reference to the refined products diesel, jet fuel and heating oil.

Traders said the remarks helped underline market concerns about the ability of refiners to meet rising demand in the second half of the year. U.S. light crude rushed US$2.08 higher to settle at US$55.62 a barrel.

"Diesel prices have been sustained by several factors including strong global demand, extended refinery maintenance on upgrading units, and refinery disruptions in the Caribbean," said Goldman Sachs.

The average price for the year so far is nearly US$51 a barrel, up from US$41.47 on average in 2004 and US$30.99 on 2003.

Last year's Chinese-led demand boom took producers and refiners by surprise after years of slow investment in capacity across the upstream production and downstream refining industry sectors.

Led by Saudi, OPEC is trying to rebuild spare capacity but for the time being the group is at full stretch. "OPEC members are already pumping at full capacity and can do nothing about prices," said Iranian oil minister Bijan Zanganeh.

So far, the world economy has largely absorbed higher energy costs, helped in part by government subsidies in emerging economies.

The United States has proven particularly resistant. U.S. diesel demand over the past four weeks has been running 6 percent higher than last year as the trucking industry moves Chinese imports to market from the West Coast.

But OPEC worries that a sustained period of US$50 oil could hit long-term demand and create an incentive for investment in alternative fuels.

"More than US$50 to US$55 for the long term it seems is not good for the world economy," said Zanganeh. "It seems in the long term a very high price will probably have a bad effect on the world economy, and we prefer not to witness this situation, but I think OPEC cannot do anything."

kittydashwood
20-06-2005, 01:40 PM
Yes the PPP share is mostly carried and they have cash from sell down of Tauton gas assests in OZ.

Any overrun would be soaked up by private placement.

donner
20-06-2005, 02:50 PM
was it based on a percentage or a capped amount?

kittydashwood
20-06-2005, 04:53 PM
percentage from memory.

CAM
21-06-2005, 05:22 PM
the original press release may answer your questions.....

30 October 2003
PEP38460 PERMIT – FARMOUT CONCLUDED WITH MITSUI & CO.

Pan Pacific Petroleum NL (PPP) advises that the previously announced farmout of a 5.0% interest in PEP38460 has now been concluded by execution of a formal sale and purchaseagreement with Mitsui & Co Ltd (Mitsui) leaving PPP with a 10% interest. Regulatory approval of the transaction is now being obtained.

PPP’s Chief Executive Tony Radford commented “We are pleased that Mitsui have recognised the prospectivity of the West Maui permit and the significance of the Tui oil discovery made in February 2003”.

Mitsui is a significant company, with a market capitalisation of approximately US$10 billionand worldwide oil and gas interests.Mitsui will fund up to A$3 million (US$2.1 million) of PPP’s expenditure in PEP38460 over thenext year for its share of:

1. Two firm exploration wells (Amokura and Pukeko)
2. A third exploration well, dependent on results from the Amokura and Pukeko
3. If a development proceeds, initial development costs of US$9.5m (A$14m approximately).

The PEP38460 joint venture has signed a letter of intent with Diamond Offshore Drilling Co.for the use of one of their semi-submersible drilling units for drilling expected to commence in March 2004. The likely drilling unit is the Ocean Bounty, which drilled the Tui discovery well.

PGL
21-06-2005, 06:03 PM
Cam,

"3. If a development proceeds, initial development costs of US$9.5m (A$14m approximately). "

I think that in the detailed agreement this clause was time-limited ie FID development decision had to take place prior to a certain date otherwise obligation for Mitsui to provide funding lapsed. The expiry date was late last year so the clause no longer applies as the FID has not yet been made - I will try to find reference and post

CAM
21-06-2005, 06:45 PM
The only thing I could find was this....but couldn't find any reference to development costs...just drilling

The Mitsui farmin to the Tui area expired on 30 October 2004 with Pan Pac
receiving a partial carry through the drilling of 4 wells

PGL
21-06-2005, 07:03 PM
Sorry I can't cite reference.

I think (but am not 100% sure) that Mitsui development carry for PPP expired end 2004. I am definite that the Mitsui carry of NOG did expire at that time.

Maybe enquiry to company would be appropriate for those interested.

kittydashwood
21-06-2005, 07:07 PM
I didn't think the carry had an expiry date.
An email to the company should clear it up.

kittydashwood
23-06-2005, 11:18 AM
No reply yet on the details of the Mitsui carry.

Interesting to see wedge forming on increased volume.
Will test resistance in the short term. (previous support level @ .14cents)
This share has been a candlestickers nightmare often giving false signals and seldom exhibiting early warnings of price moves, volume seems to be the most telling indicator here.

CAM
23-06-2005, 11:50 AM
quote:Originally posted by kittydashwood

No reply yet on the details of the Mitsui carry.


I emailed .....

Hello,

I am a shareholder in Pan Pacific Petroleum and have a query relating to PEP 38460 in New Zealand and the development of the field.

It was stated in a press release in October 2003 that If development
proceeds, initial development costs of US$9.5m (A$14m approx.) would be carried by Mitsui.

Is this still the case or did the carry for development costs have an
expiry date?


REPLY....

Dear Sir,
Your email refers. The Mitsui farmin to the Tui area expired on 30
October 2004.

For your information I attach copy of December 2004 Quarterly Activities Report where under the heading of FINANCIAL (page 2) there is mention of this.

If you require additional information, please do not hesitate to contact me.


Regards
Marianna Bayatrah
Pan Pacific Petroleum NL
Level 3, 88 Walker Street
North Sydney NSW 2060
Australia
Telephone: + 61 2 9957 2177
Email: mariannab@panpacpetroleum.com.au


Info in the quarterly....

FINANCIAL
The Mitsui farmin to the Tui area expired on 30 October 2004 with Pan Pac receiving a partial carry through the drilling of 4 wells – see ASX releases of 3 October 2003 and 30 October 2003.

kittydashwood
27-06-2005, 03:30 PM
Cheers CAM

I received a reply today and it read along the lines of yours.
Interesting price action both sides of the Tassie today, with some solid looking depth on the ASX.

Momentum seems to be slowly building all be it with the assistance of 60$ oil. Volume higher but still pretty thin. Looking at the three year chart you can see a repeated pattern emerging, price spikes followed by very jagged shaped pan-handles which lead into the next price spike.

Looking to accumulate more of these on positive announcement. Probably on the more liquid ASX.

Oh yeah that seal butcher donner (who seems to have a bit of a hardon for cute furry animals), will be pleased to know I have a new cat in my vat.

:)

donner
28-06-2005, 10:12 AM
People will make up their own minds whether I am a butcher of seals Ruth. Just like they will make up their own minds about whether or not Kittydashwood is Capitalist.

I guess they will also come to their own conclusions about why you are too gutless to post under your Capitalist pseudonym anymore except for on the lamest of threads. Why don't you offer an opinion on GEN again?[B)]

kittydashwood
28-06-2005, 12:37 PM
Gee kebab head maybe it's because i'm not Capitalist and not female.
HAHAHAHAHAHAHAHAHAHAHAHA

Look at our syntax, our beliefs, our politics and the stocks we hold .... very different.
Besides if you check carefully you'll see I gentley rib that SL driving matron every chance I get.

Put the seal club down dude

Capitalist
28-06-2005, 12:47 PM
I emailed you apologising for Donner's obsessive behaviour. Thanks for being so polite in your response. And I daresay I am younger than you.

duncan macgregor
28-06-2005, 01:03 PM
KITTY, I always thought that you three were all female. Why the hell a bloke would call himself a bloody cat has me beat. macdunk

kittydashwood
28-06-2005, 02:28 PM
Different strokes for different folks eh dunc.
Besides it will look better on the SSH.

duncan macgregor
28-06-2005, 02:37 PM
You wouldnt be having me on kitty would you?. macdunk

donner
28-06-2005, 04:19 PM
Kitty must be ancient. Capitalist is already menopausal. Perhaps now that you are emailing each other you might like to offer her some advice on how to cope with those hot flashes, which oestrogen patches are best (I recommend Climera Pro) and the best way to remove that unwelcome facial hair.

No wonder you like cats. Most old ladies do.

duncan macgregor
28-06-2005, 04:27 PM
GOOD GAWD I AM IN THE MIDDLE OF A CAT FIGHT. macdunk

Capitalist
28-06-2005, 04:38 PM
You have to wonder about a person's life when they are obsessed with anonymous entities on an internet chatroom - :D:D:D

Wadda loser. You are a retired old freak Donner - with nothing better to do than harass others on the internet. Just like Rocking - or are you Rocking? :D:D:D

Romer
28-06-2005, 04:55 PM
Silly me. I clicked on this thread cause I thought someone might have some ideas on PPP. Oh well the "share certificate" aint hurting noone in the bottom drawer.

[8)]

kittydashwood
28-06-2005, 05:58 PM
After market announcement on ASX

PPP
28/06/2005
DIRECTOR

REL: 1724 HRS Pan Pacific Petroleum NL

DIRECTOR: PPP: PPP - BOARD CHANGES

STOCK EXCHANGE ANNOUNCEMENT

28 June 2005

BOARD CHANGES

Pan Pacific Petroleum NL announces that after 13 years of service Mr Kevin
Watson has resigned as non-executive director.

Kim Ware
Company Secretary

PPP stock symbols: ASX - PPP
NZX - PPP

Pan Pacific Petroleum NL ACN 000 749 799
Level 3, 88 Walker Street, North Sydney 2060, Australia
Telephone: +61 2 9957 2177 Facsimile: +61 2 9925 0564
Website: www.panpacpetroleum.com.au
End CA:00117340 For:PPP Type:DIRECTOR Time:2005-06-28:17:24:11

kittydashwood
28-06-2005, 07:59 PM
Tax advantage for local oil producers?

From IRD carbon tax pdf.

Petroleum oil and oil products
5.2 The tax will apply to imported oil products other than those delivered directly to a New Zealand refinery, and to most emitting products of New Zealand oil refineries. It will be collected at these points by the Customs Service, as part of the existing excise system. Process emissions from a refinery will also be subject to the tax, which will be payable to Inland Revenue.
5.3 This approach is intended to minimise the compliance and administration costs of the tax, using relatively few points of obligation and relatively few emission factors for the bulk of the oil product sold.
5.4 Emission factors for crude oil vary with each shipment, and even within the hold of an oil tanker. Determining emission factors for crude oil could therefore be imprecise, costly or a poor compromise, so the focus is on the refined products produced from it.
5.5 It is possible to burn unrefined crude oil to produce useful energy, although this does not appear to be occurring in New Zealand at present. In such cases the carbon tax would be applied, so appropriate emission factors would be needed.

donner
29-06-2005, 09:36 AM
quote:Originally posted by Capitalist

You have to wonder about a person's life when they are obsessed with anonymous entities on an internet chatroom - :D:D:D

Wadda loser. You are a retired old freak Donner - with nothing better to do than harass others on the internet. Just like Rocking - or are you Rocking? :D:D:D


Who's anonymous? and who's the obsessed one Ruth?

But don't ruin a perfectly good thread for Kitty will you? Just bug off and persue me else where.[:X]

ANyway, I'm not surprised you have gone into hiding. We always knew you were pretty dumb and without scruples (remember the Toyota) inspite of the good grammer and punctuation. Check out the following on Citigroup. Whatsmore, it was with the approval, support and connivance of the boss men.

Citigroup fined £14m by watchdog

http://news.bbc.co.uk/2/hi/business/4629391.stm

kittydashwood
30-06-2005, 09:03 AM
Increasing volume and improving share price piercing the downtrend despite falls in crude.

Resistance at .14 looks solid but could evaporate with a few big buyers starting to look our way. The US Energy Department shocked analysts today when it announced an unexpected advance in crude supplies of 1.1 million barrels. Proving that the gain was no mere fluke, the American Petroleum Institute (API) backed up this report, announcing an increase of 2.9 million barrels. Most experts believed that crude inventories would decline during the past week. Crude for August delivery closed down 1.62 percent, or 94 cents, at $57.26 after touching an intraday low of $57.07 per barrel.

kittydashwood
23-08-2005, 07:50 PM
PPP
23/08/2005
FLLYR

REL: 1723 HRS Pan Pacific Petroleum NL

FLLYR: PPP: APPENDIX 4E - PRELIMINARY FINAL REPORT - YR ENDED 30 JUNE 05

Pan Pacific Petroleum NL
(ABN: 69 000 749 799)

Appendix 4E
Preliminary final report
Financial year ended 30 June 2005
Results for announcement to the market

$A'000
Revenues from ordinary activities down 27% to 5,578
Loss from ordinary activities after tax attributable to members Up 44%
to (3,995)
Net loss for the period attributable to members Up 44% to
(3,995)

Financial Overview

Following the conditional sale during the year of the Company's interest in
the Tubridgi gas joint venture, PanPac is increasingly concentrating on its
oil discoveries in New Zealand's Taranaki Basin.

Proceeds of the Tubridgi sale were not received until settlement on 4th July
2005 and are therefore not reflected in the 2005 financial statements. These
financial statements also include a full year of Tubridgi revenues and costs

Exploration write-offs during the period were $2,798K. These costs mainly
related to drilling of the Kiwi exploration well and all accumulated costs of
drilling and evaluating the Taunton prospect. Costs related to the
Tui/Amokura/Pateke oil field discoveries in the Taranaki have been carried
forward in accordance with the Company's accounting policy.

The overall result for the year was a loss after tax of $3,995K.

Exploration and Appraisal

During the year the operator of the TL2 joint venture evaluated the economic
potential of developing Taunton following the drilling of Blackthorne-1 and
concluded that a Taunton development was a commercially marginal project.
However, future development might be possible if discoveries are made nearby.

In the Taranaki Basin, New Zealand, PPP increased its interest in the
PEP38483 permit to 14.09% ahead of conducting a 3D survey over the Hector
area. Processing of this seismic is currently being carried out, ahead of a
drilling decision.

The Hector area is considered highly prospective due to a combination of
favourable reservoir development in the Kapuni Formation (F sand) and the
proximity to the hydrocarbon "kitchen" sourcing these reservoir sands.

In the PEP38460 Joint Venture, 3D seismic data was acquired over the northern
portion of the Pateke oil field. Other prospects, identified from earlier 3D
seismic, include Tieke (formerly called Weka), Oi, Matuku, Taranui, and Kahu.
Of these prospects, Tieke lies up-dip from Tui, which enhances the
likelihood of oil charge. Tieke has an unrisked potential for 25 million
barrels at the Kapuni "F" sands level. Taranui has higher potential (40
million barrels at the "F" sands) but appears to be less optimally located
for oil charge.

The Tui venture operator continued engineering and pre-development work on
the Tui Oil Area.

Outlook

The Taranaki basin will be the main focus for Pan Pacific in the coming
year:-

- Within the PEP38460 Joint venture (PPP 10%), a formal investment
decision for the Tui Oil Area development is on track to be made by joint
venture parties by 31 October 2005, which would lead to first oil production
in the first quarter of 2007. Initial rates of production are expected to
exceed 30,000 barrels per day. Rapid payback of the investment in the Tui
development is supported by an oil price of US$35 per barrel.

- Interpretation of 2D seismic data acquired over the Hector prospects
in PEP38483 (PPP 14.9%) are expected to lead to a drilling decision before
the end of 2005.

Two wells are proposed for drilling prospects adjacent to Tui, which if
successful could be tied into the initial development.

In the Carnarvon basin several exploration prospects including Bricklanding
in TP7 (PPP 4.16%), are being reviewed as possible drilling candidates. In
WA254P (PPP 2.99%) several prospects are being evaluated from recent seismic
reprocessing. Of these the Duomonte prospect is a candidate for drillin

digger
23-08-2005, 08:40 PM
Within the PEP38460 Joint venture (PPP 10%), a formal investment
decision for the Tui Oil Area development is on track to be made by joint
venture parties by 31 October 2005, which would lead to first oil production
in the first quarter of 2007. Initial rates of production are expected to
exceed 30,000 barrels per day. Rapid payback of the investment in the Tui
development is supported by an oil price of US$35 per barrel.

- Interpretation of 2D seismic data
End Quote


So if development is supported at us$35 and it will in fact bring a rapid payback at that price,then PPP must be sitting on a pretty bit of earnings when the real price of oil is factored in.By 2007 that will be in excess of US $100. This sweet crude is now acknoledge as already being in termal decline,according to reports from none other than OPEC.
Think i will sit on this one like with NOG and wait for reality to hit home with the investing public.

kittydashwood
23-08-2005, 08:47 PM
I like the increased interest in the PEP38483 permit to 14.09%
IMHO Hector is the most exciting prospect on the West Coast.

oldowl
26-08-2005, 03:37 PM
Pan Pacific to focus on NZ prospects
Neil Ritchie, New Zealand
Wednesday, August 24, 2005

DUAL-listed Pan Pacific Petroleum has reported an overall after-tax loss of A$3.99 million for the June year and says it is now concentrating on its oil discoveries in the Taranaki Basin, New Zealand. It has now exited from the almost defunct Tubridgi gas field off Western Australia.

The Sydney-headquartered company told the ASX and NZX yesterday that its A$3,995,000 loss included a full year of revenues and costs from its former interest in the Tubridgi gas field as proceeds from that sale were not received until after the end of the financial year (July 4).

Exploration write-offs during the period were A$2,798,000, mainly related to drilling the unsuccessful Kiwi exploration well in offshore Taranaki licence PEP 38460 and accumulated costs of drilling and evaluating the offshore Western Australian Taunton prospect.

Following the drilling of Blackthorne-1, the TL2 joint venture concluded a Taunton development would be a commercially marginal project, though future development might still be possible if further nearby discoveries were made.

Pan Pacific, which holds a 10% stake in the Tui Area (Tui-Amokura-Pateke) oil discoveries elsewhere in PEP 38460, said a final investment decision on development of these was scheduled for late October.

FID by that date would lead to first oil production in early 2007, with initial flows expected to exceed 30,000 barrels of oil per day (bopd). Rapid payback of the investment in the Tui development was supported by an oil price of only US$35 per barrel (currently US$65).

In addition to the Tui development wells, two exploration wells were proposed for adjacent prospects, which if successful could be tied into the initial development.

Candidates included Tieke, Oi, Matuku, Taranui, and Kahu - with Tieke (updip from Tui and having unrisked potential for 25 million barrels at the Eocene-aged Kapuni F sands) and Taranui (40 million barrels at the F sands) the most likely.

Also interpretation of 2D seismic data acquired over the Hector prospects in nearby PEP38483 (Pan Pacific Petroleum 14.9% interest) was expected to lead to a drilling decision on that acreage before the end of 2005. The Hector area was considered highly prospective, due to favourable reservoir development in the Kapuni F sands and proximity to the hydrocarbon "kitchen" sourcing those reservoir sands.

In the Carnarvon basin several exploration prospects, including Bricklanding in TP7 (PPP 4.16%), were being reviewed as possible drilling candidates.

Several prospects wree being evaluated from recent seismic reprocessing in WA254P (PPP 2.99%). Of these, the Duomonte prospect was a candidate for drilling in late 2005.

kittydashwood
06-09-2005, 08:22 AM
19,583,333 private placement
5,416,667 shares for Alan

Looks like PPP are ready for the formal investment announcement for the Tui Area oil development. Maybe in the next three weeks as I'm sure NOG management will want a golden apple to take to their AGM.


PPP
02/09/2005
ALLOT

REL: 1639 HRS Pan Pacific Petroleum NL

ALLOT: PPP: APPENDIX 3B - CONDITIONAL NEW ISSUE ANNOUNCEMENT

Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B

New issue announcement,
application for quotation of additional securities
and agreement

Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and
may be made public.
Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000,
30/9/2001, 11/3/2002, 1/1/2003.

Name of entity
Pan Pacific Petroleum NL ('PPP')

ABN
69 000 749 799

We (the entity) give ASX the following information.

Part 1 All issues
You must complete the relevant sections (attach sheets if there is not enough
space).

1 +Class of +securities issued or to be issued
Ordinary Shares

2 Number of +securities issued or to be issued (if known) or maximum
number which may be issued
5,416,667

3 Principal terms of the +securities (eg, if options, exercise price
and expiry date; if partly paid +securities, the amount outstanding and due
dates for payment; if +convertible securities, the conversion price and dates
for conversion) Shares to be issued at A12cents subject to
shareholder approval being obtained at the next general meeting of ordinary
share holders

4 Do the +securities rank equally in all respects from the date of
allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:
- the date from which they do
- the extent to which they participate for the next dividend, (in the
case of a trust, distribution) or interest payment
- the extent to which they do not rank equally, other than in relation
to the next dividend, distribution or interest payment YES

5 Issue price or consideration $0.12
each

6 Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly
identify those assets)

The issue is to provide funds for Company's
working capital for exploration and development.

7 Dates of entering +securities into uncertificated
holdings or despatch of certificates
To be advised

Number +Class
8 Number and +class of all +securities quoted on ASX
(including the securities in clause 2 if applicable)

250,451,954

19,583,333
5,416,667

275,451,954 Ordinary Shares (opening)

kittydashwood
09-09-2005, 08:52 AM
From the AWE presentation Project pays out in 3 mths at 50$ per barrel.


PPP's EBITA target= A$20 million (yr1 @ 25$ pb)[8)]

More detail on tie-in candidates was pleasing.
Very excited by AWE's Cantebury Basin prospect look at the geology of that basin!
Should be the big story of 2006.

kittydashwood
16-09-2005, 05:56 PM
PPP
14/09/2005
SSHO

REL: 1547 HRS Pan Pacific Petroleum NL

SSHO: PPP: FORM 603 - NOTICE OF INITIAL SUBSTANTIAL HOLDER

Details of substantial holder:
GUARDIAN RESOURCES PTY LTD & ASSOCIATES

Percentage: 6.42%

New friends how nice. Nice cup of sweet oil anyone?

kittydashwood
30-09-2005, 09:24 AM
I can hear the trucks starting to be backed up.

NZX
Buy Market Depth Sell
Buy Quantity Prices Prices Sell Quantity
50,000 16 16.3 15,000
100,000 15 16.5 22,000
100,000 14.6 16.7 20,009
42,500 14.5 17 40,333
75,000 14 17.5 5,000
23,500 13.5 19 20,000
50,000 11 20 5,000
0 0 21 3,500

441,000 130,842

ASX
Buy Market Depth Sell
Buyers Buy Quantity Prices Prices Sell Quantity Sellers
2 274,441 14 14.5 98,567 1
3 263,002 13.5 15 175,000 3
6 362,499 13 15.5 50,000 1
5 207,900 12.5 16 166,775 4
3 315,000 12 17 62,500 1
1 50,000 11.5 18 40,000 1
1 100,000 11 19 62,500 1
1 100,000 10.5 20 30,000 1
1 100,000 10 30 200,000 1
1 100,000 9 0 0 0

24 1,872,842 885,342 14

FRED
30-09-2005, 01:42 PM
My truck has 4 flat tyres.

kittydashwood
30-09-2005, 06:25 PM
Unimog is it FRED?

evedder
31-03-2006, 01:53 PM
Where to from here for PPP? Is there any potential in this stock?

J R Ewing
31-03-2006, 03:00 PM
Obviously those buying options at 6c can see some potential. Expect the value of shares to steadily increase as Tui is brought on stream and to skyrocket if there is some exploration sucess :D:D

lambton
31-03-2006, 05:13 PM
PPP gives best leverage to Tui. Do the sums. Not for traders just now, too long for them. As cheap as chips for those willing to buy and hold for a few months.

Jess9
31-03-2006, 09:04 PM
quote:Originally posted by lambton

PPP gives best leverage to Tui. Do the sums. Not for traders just now, too long for them. As cheap as chips for those willing to buy and hold for a few months.


Hi lambton,

This is hard to compare...basically you have to do some easy adjustments and some not so easy, i.e. lets start with the easy... PPP has twice as many shares/options on issue over NZO (making each share in NZO twice the exposure to TUI - on a per share basis) and then also factor in NZO holds 10.1% of PPP, then harder... adjust NZO back for KUPE, PRCC, cash and other prospects...

I'd be interested to hear your view, if you wish to share?

J9

tim23
01-04-2006, 12:17 PM
Could NOG take over PPP?

lambton
01-04-2006, 06:54 PM
quote:Originally posted by Jess9


quote:Originally posted by lambton

PPP gives best leverage to Tui. Do the sums. Not for traders just now, too long for them. As cheap as chips for those willing to buy and hold for a few months.


Hi lambton,

This is hard to compare...basically you have to do some easy adjustments and some not so easy, i.e. lets start with the easy... PPP has twice as many shares/options on issue over NZO (making each share in NZO twice the exposure to TUI - on a per share basis) and then also factor in NZO holds 10.1% of PPP, then harder... adjust NZO back for KUPE, PRCC, cash and other prospects...

I'd be interested to hear your view, if you wish to share?

J9


Kupe, PRCC, Cash and other prospects - exactly NZO more diversified PPP has leverage. Then again like any leveraged positions high risk high reward big losses. You watch the traders come in when there is a hint of drill and thrill.

Yes NZO could easily take out PPP if it suits em. Adds more risk I say when investing in PPP. Have some made money in the past and comfortable to hold a few for now.

Onthemoney
02-04-2006, 06:04 PM
NOG used to own more PPP but gave it away to shareholders

tim23
03-04-2006, 06:09 PM
I know they distributed PPP to NOG shareholders (1:1) but have increased stake lately - comments in 1/2 yearly report could provide clue?

troyvdh
03-04-2006, 09:01 PM
tim...i think you are on to it...

Panic E-Button
05-04-2006, 05:36 PM
Volume in trading will increase soon, so on the price. With 400,000,000 of shares it will be hard, but...;)

Sharp737
05-04-2006, 06:26 PM
I think you are right. The closer we get to the Tui development the more and more pressure is going to go on PPP. And with Hector Prospect being drilled in October (all going well), these shares are NOT going to stand still. Hector is a big prospect. Now if that hits oil, Wow.


Whether NOG has a go at PPP is anyones guess. I don't think so myself but could be wrong. NOG once had nearly 60% of PPP years ago. They could but I would be surprised. And if they did, it would be when NOG was higher and a perhaps script offer. Say 1 NOG for 5 PPP. Now this is pure speculation and musing. But of course, PPP could then join in with Kupe and Pike. And NOG would have PPP's Tui share and other Tui prospects and perhaps PPP's 14% in Hector if it comes in.... Still I can't see PPP being taken over by NOG in the short term. My 2c.

Barring a catastrophe, I also can't see PPP staying at these prices for too much longer. Perhaps another month or two at the most?

Kiwi Kev

Panic E-Button
06-04-2006, 04:35 PM
yep, its happening now.

FRED
06-04-2006, 06:50 PM
Someone sure liked them in Aus today with the highest volume traded since 1994. Higher than all thethrill and drills.

Something is going on IMO

FRED

the machine
06-04-2006, 11:46 PM
In local paper today there was a speculative buy put out by broker StockAnalsis (who have never heard of before) advising that about 10c au in value is tied up in Tui, and about another 6c au in exploration = expect will rise to 15c au.

An exploration success could see 45c+ au.

Whilst they did not specify where the success could be, the targets are all in the companies reports.
Certainly hope Hector can be drilled in October, prior to 6 months of Tui development wells.

M

digger
07-04-2006, 07:19 AM
Sharp737 wrote
Barring a catastrophe, I also can't see PPP staying at these prices for too much longer. Perhaps another month or two at the most?

Kiwi Kev


Good call S737. You might like to change the month to day to be closer to the action starting. I do not have a clue of why just now but action with PPP is a very high likehood as you say coming up to the drills. Very high volumn in Aus yesterday so someone has plans.

Seti
07-04-2006, 08:59 AM
I concur.

With PPPs share of Hector at 14% of a potential 50mmbo (AWE have a range of 40>100mmbo) this is possibly a $700M asset (assuming $60US barrel and xrate of 60cNZ) or gross revenue of $1.70 per share.

And this is without TUI!

I.T.Ancient
07-04-2006, 06:06 PM
Comparing investment in heads (@15c) or options(@7.2c)

Assuming .84 exchange rate

Heads @30/6/07..Options.........Heads
<15c............100% Loss.......Loss
15-18c..........100% Loss.......Profit
18-25c..........Loss............Profit
25-34c..........Profit..........Bigger profit
>34c............Bigger profit...Profit

Interesting...

The options bid is at 6.5c, at that level the options come into the money at 32cps.

lambton
07-04-2006, 06:59 PM
quote:Originally posted by digger

Sharp737 wrote
Barring a catastrophe, I also can't see PPP staying at these prices for too much longer. Perhaps another month or two at the most?

Kiwi Kev


Good call S737. You might like to change the month to day to be closer to the action starting. I do not have a clue of why just now but action with PPP is a very high likehood as you say coming up to the drills. Very high volumn in Aus yesterday so someone has plans.


Funny isn't it. No drilling until later this yr yet s/p heading north?

FRED
07-04-2006, 10:08 PM
I.T.A

Never seen such a load of drivel. Get an option model from goggle.

The options are in the money once they pass .15

They were free to the smart.

FRED

lanenz
07-04-2006, 10:15 PM
quote:Originally posted by lambton


quote:Originally posted by digger

Sharp737 wrote
Barring a catastrophe, I also can't see PPP staying at these prices for too much longer. Perhaps another month or two at the most?

Kiwi Kev


Good call S737. You might like to change the month to day to be closer to the action starting. I do not have a clue of why just now but action with PPP is a very high likehood as you say coming up to the drills. Very high volumn in Aus yesterday so someone has plans.


Funny isn't it. No drilling until later this yr yet s/p heading north?
Maybe someone knows something that you dont.;)

Sharp737
08-04-2006, 06:06 AM
Now that's an interesting comment....
PPP have now got that new Middle East prospecting license now... something going on there?
Or is it a drill/development decision in Australia?
Or people just getting in early on the Tui development and upcoming Hector drilling?
Or something else?

Interesting eh.

Kiwi Kev

the machine
09-04-2006, 10:00 PM
reason for increase in price and volume is as per the broker report of speculative buy recomendation as per my posting on the 7th

M

Sharp737
09-04-2006, 10:50 PM
Yes, I think you are right M. But if the volumes stay high, I will have to wonder...

Kev

soletrader
10-04-2006, 02:39 AM
M

Re your post of 07/04. I guess this info will originate from www.stockanalysis.com.au, but I dont subscribe.

the machine
10-04-2006, 11:00 AM
quote:Originally posted by soletrader

M

Re your post of 07/04. I guess this info will originate from www.stockanalysis.com.au, but I dont subscribe.


It was just a report in local newspaper as a broker tip and we just relayed the guts of it since people were wondering about the spike.

Had never heard of stockanalysis before.

As regards if the sp gain can be held onto - time will tell.
At least the quarterly report due on April 28, so that may sustain the gain

M

Sharp737
22-04-2006, 04:59 PM
I see the US$32 million loan facility has just been announced after hours on the Oz. And share price was firming to 12.5/13 on the Oz...
This is good news and it's all on now :)

clearasmud
22-04-2006, 05:33 PM
Have the costs for this project increased considerably?

I'm curious about the oppies needing a15c for conversion in 15 months.
To me it indicates substancial exploration success required later this year.

Wonder how likely that is?

Has anybody spoken to Tattersfield?

Sharp737
22-04-2006, 07:54 PM
Don't know if costs have gone up. They were US$204 for the Tui development as of November 2005
http://www.panpacpetroleum.com.au/pdf/homepage-bulletins/PPP-Tui%20Area%20oil%20project%20to%20proceed_21Nov05. pdf

Around that time they should have had some cash + $3m + some $15m from the cash issue and placement = $18m or thereabouts. And they are going to need a bit of extra cash for the extra exploration drilling I'd say.

The extra prospects beside Tui look promising and Hector is the big wildcard for October all going well. As well as the Tui development which is getting better all the time as oil keeps going up and up.

Sharp737
22-04-2006, 08:04 PM
And big brother New Zeanland Oil and Gas has done similar with the funding. Sounds like the FPSO leasing price has gone up? Wouldn't be surprised. They should have jumped in and bought that ship long ago :-)

http://www.nzog.net/news/2006/Tui%20Oil%20Area%20Development%20Financing.pdf

Sharp737
22-04-2006, 08:09 PM
There's the costs of the FPSO lease which is in addition to the capex of $US204M. Looks ok.

http://www.nzog.net/news/2006/NZOG_Half_Year_Dec_2005.pdf

Panic E-Button
22-04-2006, 10:44 PM
What 5000 barrel a day means to PPP's share price in terms of earnings? What are your thoughts?

Sharp737
23-04-2006, 08:00 AM
5000bbl (PPP's 10% share) per day is huge. Roughly by my calcs, US$32M Gross will be earned by PPP in 5 months.
Let's say it stabilised at 2000bbl per day later on (PPP's 10% share). That means about NZ$80M Gross (2000 x US70 x 1.6 (conversion to NZ$) x 360 days. Say of that, $NZ30M profit?

PPP has 433M shares with options yet to be exercised. Say we get up to 600M shares. Thats 5c earnings per share. PPP would have to be around 50c do you think? This is very rough calculations.

And if neighbouring prospects Tieke, Oi and slightly further out, Taranui and Taranui South strike oil and can be tied back into the Tui development, we have a much longer and ongoing production scenario. And does look quite likely. Not to mention the Hector prospect coming up. Probably in a year to 18 months time, we could be looking at 70c a share? More? :)

clearasmud
23-04-2006, 08:23 AM
Sharp,

the Tui field is only worth Au10c to PPP based on what AWE paid when they bgt Transfields? share in Jan'06.Based on USD$50 bbl?
If the oil price say increases by $20 bbl then perhaps 15c to PPP.

You mustn't apply a PE ratio to an oil field (that in this case only has a short 50% life)

kittydashwood
23-04-2006, 10:10 AM
PPP is a simple equation.

Proven reserves in the ground= .15
Reserves extracted= .45
(cal. @45$ pbb and xrate.70)

As the risk window closes the price goes up.

FRED
23-04-2006, 10:35 AM
Good to see they only had to hedge 250,000 barrels not 448,000 like NOG.

This is a little ripper of a company.

Reminds me of NOG at .33 cents a share.

FRED

Sharp737
23-04-2006, 01:56 PM
I agree Fred. What people perhaps are forgetting is that PPP is going to have so much cash so very quickly. Not to mention the exercise of the options at the end of June 2007. Now what is PPP going to do with all that mounting cash?
Obviously, more exploration for a kick off. And yes, that's speculation alright. Big time. But the closer prospects to the Tui development must be a pretty good bet and being so close to Maui as well. Hector of course is high risk, but if it comes in, a mighty bonus and awesome.

BUT, I'll bet it won't be just more exploration that PPP would be into - they could look around for other projects that they could buy into easily. This could be the making of PPP. If they do the same as AWE and then we are going to have us one heck of a company.

But of course, we are only at the early stages and this is a lot of speculation. I am only looking on the extremely positive side so for those thinking of investing in PPP, do your own homework and YOU make the choice remembering the risks. Like I say, barring a worldwide catastrophe, investors in PPP could do very well. And we don't really want the US dropping a nuclear bomb on Iran as that could happen this year. Or any other country nuking anyone. Dangerous times we are in I think.

Sharp737
23-04-2006, 02:31 PM
Old Owl posted this report back in August 2005

Pan Pacific to focus on NZ prospects
Neil Ritchie, New Zealand
Wednesday, August 24, 2005

DUAL-listed Pan Pacific Petroleum has reported an overall after-tax loss of A$3.99 million for the June year and says it is now concentrating on its oil discoveries in the Taranaki Basin, New Zealand. It has now exited from the almost defunct Tubridgi gas field off Western Australia.

The Sydney-headquartered company told the ASX and NZX yesterday that its A$3,995,000 loss included a full year of revenues and costs from its former interest in the Tubridgi gas field as proceeds from that sale were not received until after the end of the financial year (July 4).

Exploration write-offs during the period were A$2,798,000, mainly related to drilling the unsuccessful Kiwi exploration well in offshore Taranaki licence PEP 38460 and accumulated costs of drilling and evaluating the offshore Western Australian Taunton prospect.

Following the drilling of Blackthorne-1, the TL2 joint venture concluded a Taunton development would be a commercially marginal project, though future development might still be possible if further nearby discoveries were made.

Pan Pacific, which holds a 10% stake in the Tui Area (Tui-Amokura-Pateke) oil discoveries elsewhere in PEP 38460, said a final investment decision on development of these was scheduled for late October.

FID by that date would lead to first oil production in early 2007, with initial flows expected to exceed 30,000 barrels of oil per day (bopd). Rapid payback of the investment in the Tui development was supported by an oil price of only US$35 per barrel (currently US$65).

In addition to the Tui development wells, two exploration wells were proposed for adjacent prospects, which if successful could be tied into the initial development.

Candidates included Tieke, Oi, Matuku, Taranui, and Kahu - with Tieke (updip from Tui and having unrisked potential for 25 million barrels at the Eocene-aged Kapuni F sands) and Taranui (40 million barrels at the F sands) the most likely.

Also interpretation of 2D seismic data acquired over the Hector prospects in nearby PEP38483 (Pan Pacific Petroleum 14.9% interest) was expected to lead to a drilling decision on that acreage before the end of 2005. The Hector area was considered highly prospective, due to favourable reservoir development in the Kapuni F sands and proximity to the hydrocarbon "kitchen" sourcing those reservoir sands.

In the Carnarvon basin several exploration prospects, including Bricklanding in TP7 (PPP 4.16%), were being reviewed as possible drilling candidates.

Several prospects wree being evaluated from recent seismic reprocessing in WA254P (PPP 2.99%). Of these, the Duomonte prospect was a candidate for drilling in late 2005.

clearasmud
24-04-2006, 05:32 PM
Tui field gets funding as oil price surge helps viability
24 April 2006
By SIMON LOUISSON

Pan Pacific Petroleum said today it had secured up to $US32 million ($NZ51m) in funding for its share of the development costs of the Tui oil field offshore from Taranaki.


Commonwealth Bank of Australia is providing PPP the debt facility.

PPP, listed in New Zealand and Australia, owns 10 per cent of the field that includes Tui, Amokura and Pateke.

New Zealand Oil & Gas owns 12.5 per cent of Tui and Japan's Mitsui E&P owns 12.5 per cent while the biggest stake, 42.5 per cent, was bought by Australia Worldwide Exploration (AWE) from Texas-based New Zealand Overseas Petroleum earlier this year.

Production development costs are expected to run to $US300-350 million ($NZ475-550m) including $US100m for the Floating Production Storage and Offloading (FPSO) vessel used for storage and production.

PPP director Allan Tattersfield said that soaring crude prices had greatly assisted the economics of the development but that could improve further if planned new exploration wells hit oil.

Tui was considered viable at $US30 a barrel, so with the price of oil above US70, it looks decided healthy.

AdvertisementAdvertisement"Obviously the kiwi dollar has gone down a bit and oil price has gone up and looks pretty strong," Mr Tattersfield said. Because the field is 40km offshore in relatively deep water, it was a high risk project at exploration stage.

"The lenders take a very conservative view, so do the companies investing. No one knows what the oil price will be in 12 months' time when hopefully we will be close to production."

The three fields are estimated to contain 60 million barrels of oil with 28-30 million recoverable. At $US70 a barrel that would yield around $US2 billion before costs.

PPP has acquired an initial tranche of put options over the first 250,000 of its share of initial production at $US50/barrel.

NZOG has signed up to use the Ocean Patriot semi-submersible rig to drill three of its offshore Taranaki oil prospects as well as drilling four development wells for the Tui fields.

Upon completion of the Tui wells, the Ocean Patriot rig will move several kilometres to drill the Tieke and Taranui oil prospects within the Tui PMP 38158 area.

"Hopefully, if we find something there it will alter the prospects of the Tui field significantly and get a much longer life at it with nominal additional capital costs – that's the exciting part," said Mr Tattersfield.

The partners are optimistic.

"There is a strong likelihood that there is at least one other field there that we will tap into with the drilling rig after we have finished the production wells of Tui."

He said historically, a large gas field such as the nearby Maui field, will have equally large oil fields nearby and to date only small fields had been discovered.

"We have found the gas field but we haven't found any significant oil.

"If we find some additional oil close by – that's between Tui and Maui – this will alter the economics of the project significantly because we will have the infrastructure in place."

The FPSO – an old tanker that had been parked offshore of Vietnam, currently being transformed in Singapore with a boatload of sophisticated equipment – has been designed to handle more production than Tui currently contains.

Mr Tattersfield said AWE principal Bruce Phillips had long expressed confidence in New Zealand exploration. As well, Transworld had demonstrated its confidence by accepting shares in AWE for its New Zealand Exploration stake and was now AWE's largest shareholder with 10 per cent.

"That's quite a good sign of confidence in the project because it shows Transworld still wants to stay with the project at least in the short-to medium term," said Mr Tattersfield.

AWE had grown from a smallish explorer to be capitalised at over $A1.2 billion ($NZ1.4 billion).

Mr Tattersfield said Tui had a big advantage in that its production would come on stream very quickly, w

tim23
25-04-2006, 03:48 PM
Interesting that the options haven't run as hard as the ords; still below their all time high, expect some catch up soon?

FRED
25-04-2006, 07:28 PM
5000 barrels is a lot for a junior.

Watch it fly seriously on the sniff of more oil.

FRED

KentBrockman
25-04-2006, 09:21 PM
quote:Originally posted by FRED



Get an option model from goggle.



I did. (http://www.hoadley.net/options/optiongraphs.aspx)

According to the model, shouldn't the option price be rather in the
2 cent area, and is the actual option price therefore too high?

Or, (asking as an 'option novice'), why would the options have
any value at all, if the strike price is greater than the actual
price?

FRED
25-04-2006, 10:08 PM
On you.

The option model will have a volatility level. Default maybe 30...20. Move that upto the real level of 70 plus and recalculate.

FRED

I.T.Ancient
26-04-2006, 08:19 AM
Option valuation formula's calculate 'fair value'. This can be important to you if you are a shareholder of an entity which owns options or a shareholder of an entity which has issued options and is subject to takeover. However, fair value of options has as much relevance to their market value as does the fair value of a company to it's share price. i.e. not much. Some market participants will calculate fair value to determine if a share can be considered cheap or expensive, but there is much more to market value than that. If you buy or hold PPP options today, you are betting that PPP heads will be trading at NZD.29 or greater on 30/6/07. This could be a very good bet, but like LOTTO players many participants like to play without understanding the odds.

I.T.Ancient
26-04-2006, 08:30 AM
Or, (asking as an 'option novice'), why would the options have any value at all, if the strike price is greater than the actual price?

Imagine if you could buy the options at 1c today. If the heads were trading at NZD.19 at 30/6/07 you would make a profit. If the heads were trading at .29 you would get a tenfold return. Fabulous leaverage - which is why the options are trading at a higher price than that.

Panic E-Button
27-04-2006, 10:33 AM
quote:Originally posted by I.T.Ancient

Or, (asking as an 'option novice'), why would the options have any value at all, if the strike price is greater than the actual price?

Imagine if you could buy the options at 1c today. If the heads were trading at NZD.19 at 30/6/07 you would make a profit. If the heads were trading at .29 you would get a tenfold return. Fabulous leaverage - which is why the options are trading at a higher price than that.

Um?

JoeKing
27-04-2006, 11:22 AM
quote:Originally posted by I.T.Ancient
Imagine if you could buy the options at 1c today. If the heads were trading at NZD.19 at 30/6/07 you would make a profit. If the heads were trading at .29 you would get a tenfold return. Fabulous leaverage - which is why the options are trading at a higher price than that.


HUH!?? wot maths skool did you go to Panike? .29c sure weren't 10 X {1+15}wen I wnt to school? But nearly X 2 is still OK.
:)

I.T.Ancient
27-04-2006, 02:27 PM
Let's just use AUD and ignore opportunity costs for the moment to avoid confusion. If you bought an option for 1c and the heads are trading at 25c on strike day, then the same day you spend 15c you can take 25c out by selling at market. Investment 1c return 10c.

Panic E-Button
27-04-2006, 03:38 PM
quote:Originally posted by I.T.Ancient

Let's just use AUD and ignore opportunity costs for the moment to avoid confusion. If you bought an option for 1c and the heads are trading at 25c on strike day, then the same day you spend 15c you can take 25c out by selling at market. Investment 1c return 10c.

Um??
Have you ever finnished primary school?
1c + 15c =16c
Your 'current price' = 25c less exercised option costs = 9c.
Then 9c represents profit of 56.25% on your effort (16c) selling 'heads' at market.

J R Ewing
27-04-2006, 03:45 PM
quote:Originally posted by Panic E-Button


quote:Originally posted by I.T.Ancient

Let's just use AUD and ignore opportunity costs for the moment to avoid confusion. If you bought an option for 1c and the heads are trading at 25c on strike day, then the same day you spend 15c you can take 25c out by selling at market. Investment 1c return 10c.

Um??
Have you ever finnished primary school?
1c + 15c =16c
Your 'current price' = 25c less exercised option costs = 9c.
Then 9c represents profit of 56.25% on your effort (16c) selling 'heads' at market.



You are wrong. I invest 1c today and have 1c invested for the whole term of the investment. I then sell the option immediately prior to conversion for 10c (25c share price less the 15c exercise price). One might convert the option and sell the reultant head as well, in that case the excercise price has only been invested for a couple of days and can be ignored when calculating the return on investment. I'm with IT Ancient on this one :)

Panic E-Button
27-04-2006, 03:53 PM
Mr. J R Ewing- read I.T.Ancient's statment first b4 you stand up. I did help and replied with quote of his.
Off I go, just time wasting.

JoeKing
27-04-2006, 03:56 PM
tee hee

777
27-04-2006, 04:01 PM
Um?

P E-B.. J R Ewing spelt it out exactly right. For all intents and purposes you can ignore the 15c if you are to sell the heads on the same day as the time invested is so short. I am sure this is where I T Ancient is coming from.

JoeKing
28-04-2006, 08:56 AM
Good God you guys would get lost wandering off getting the teachers apple.


quote:Originally posted by I.T.Ancient

Imagine if you could buy the options at 1c today. If the heads were trading at NZD.19 at 30/6/07 you would make a profit. If the heads were trading at .29 you would get a tenfold return.....


The total INVESTMENT required to get .29c is 16c.
A good profit but certainly not investment X 10.

The REAL is PPPOA today are trading about 7c.
I sold all mine 4.5 and bought head shares at 11c a while ago. (11 - 4.5 = 6.5c)I'm happy ;)
Good luck whatever you do
Cheers
JK

J R Ewing
28-04-2006, 09:19 AM
JoeKing,
I think the issue of the actual conversion of the options is confusing you. Think about the situation where you buy a 1c option today and sell the day BEFORE conversion. The option price on that day should be = share price - conversion price.

This would be a ten fold return in the original example in anyones terms.

JoeKing
28-04-2006, 09:34 AM
JR Thanks for explanation.
TOOOO many if's but's why's wherefores.
I vividly recall the shambles involving NOGOC options. I guess some wise punters did ok, but alot got caught when the head share shot through the roof dragging the op's then crashed. I had to convert 200,000 @ 60c to stay in the running and ended with a head share ave of 98 when the SP fellover to 70 something. Currently hold 1.5 mil. expired NEO options, hope to recoup through pending capital raising.
With PPP heads so "cheap" (11c after rights issue) I could/cannot see why bother with options unless trading. And untill the Ocean Patriot arrives I think PPPOA with remain fairly static.
Cheers
JK

Paint it Black
29-04-2006, 01:05 PM
JoeKing - do you know when the Ocean Patriot is due to start drilling - as you say this is when the real excitement will begin.

lambton
29-04-2006, 07:25 PM
quote:Originally posted by Paint it Black

JoeKing - do you know when the Ocean Patriot is due to start drilling - as you say this is when the real excitement will begin.



Later this year.

JoeKing
29-04-2006, 07:44 PM
PIB hope this helps
https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=1278279
Cheers
JK

kittydashwood
01-05-2006, 04:04 PM
Hector still looks most promising to me for a continuation of Tui like conditions.

Most likely lots of small pockets fractured by faulting from what used to be a large field. PPP need to keep going with the fast moving exploration program and try to tie a few more discoveries back to the Tui infrastructure.

Sharp737
02-05-2006, 05:12 AM
Yes, they are going to. But only two of the four prospects for a start. The other two could possibly come later. And if Hector comes in, that would require a seperate development.

Panic E-Button
09-05-2006, 04:34 PM
Watch this one for next few trading days.

Panic E-Button
10-05-2006, 09:54 AM
It'll get to 19.5c on NZX or 16c on ASX on heavy volumne.

lanenz
10-05-2006, 09:57 AM
quote:Originally posted by Panic E-Button

It'll get to 19.5c on NZX or 16c on ASX on heavy volumne.
based on?

JoeKing
10-05-2006, 10:31 AM
Rumour has it......

Krustytheclown
10-05-2006, 06:38 PM
Yes...give it in Code JK -Minder/Sharebroker code that is..

G.

I.T.Ancient
11-05-2006, 01:01 PM
Ha Ha
I just came back to this thread.
Thanks for the support JR & 777.

At this stage all I will say is that I own heads and not options and I think that you are wise to do the same JK. But then who knows, option owners could get lucky - good luck to them.

trackers
12-05-2006, 04:12 AM
PPP 3rd biggest rise on the NZX today (up 8%)...nice going

Toddy
19-05-2006, 08:25 AM
From bloomberg. Didn't see a coy announcement.

Aminex, Pan Pacific Win Rights to Explore for Oil in Egypt
May 18 (Bloomberg) -- Aminex Plc, an Irish oil and gas exploration company, and Australia's Pan Pacific Petroleum NL won rights to search for oil and gas in southern Egypt, Petroleum Minister Sameh Fahmy said.

Aminex agreed to pay $16 million for the right to drill in a 1,328 square-kilometer plot over a period of eight years, Fahmy told a parliament committee, according to a statement today from his Cairo office. The Dublin-based company will pay a $2 million bonus when it signs the contract with the state-owned Ganoub El Wadi Holding Petroleum Co., or Ganope, that oversees oil operations in southern Egypt.

Pan Pacific agreed to pay $12 million for the right to drill in a 42,291 square-kilometer area over a period of eight years. The Sydney-based company will pay a signing bonus of $100,000 to Ganope, he said.

Al Thani Corp. of the United Arab Emirates won two areas in southern Egypt totaling 28,487 square kilometers. It will pay $21.5 million and a signing bonus of $2.3 million.

Egypt is stepping up exploration to make up for a decline in crude-oil production as energy prices soar. The nation also seeks to double natural gas exports by 2011.

the machine
20-05-2006, 12:02 PM
thanks Toddy.

That explains why PPP has been so active on the markets

M

JoeKing
22-05-2006, 11:35 AM
BUT! Don't forget PPP shares some NOG Directors (including TR). Notorious for their ability to get things done painfully slowly.. except of course when it comes to extras for the boyz and select few...
Cheers
JK

soletrader
22-05-2006, 08:39 PM
Yes Toddy, thanks for that information re. Egypt. It is interesting that Animex have an interest. As you know that co. is on the speculators radar over here.

However, if there are no typos in your figures, it means that Amimex have paid approx $12050 per sq-km, Al Thani $755 and PPP $284.

You can draw your own conclusions.

Panic E-Button
05-06-2006, 05:35 PM
New high price level for Light, Sweet Crude Oil to be expected this week from NYMEX. (Record high was US$77.40/barell last Friday - $73.26) This will re-bust sentiment to oil exploration companies in Pacific region. As more drilling permits on the way smoking in NZ could be banned sooner then expected.
Is also good time to stockpile cigarettes for black market? [B)]

the machine
06-06-2006, 09:37 PM
Interesting annoucement on asx re ppp's permit in Egypt being given the stamp of government approval, yet nothing on nzx.

It explains why keen interest in ppp.

M

Fodder
04-07-2006, 11:28 AM
Up 1.5c this morning...someone real keen on these today...anyone know why?

JoeKing
04-07-2006, 11:39 AM
Fodder
check ann. "Groundstar Increases Working Interest in Block-3 WKO"
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=&asxCode=vol&companyName=&principalActivity=&industryGroup=NO#headlines

Perhaps someone would like to try to explain how...
PPP is a SSH in Volant who own PPPE as a subsidiary?
Looks like the old ever diminishing circle till... "wooo its dark up here"?

Fodder
04-07-2006, 12:11 PM
Cheers for the link JK...
Man these oil and gas exploration coys are getting so incestuous.

Panic E-Button
04-07-2006, 12:58 PM
Anyone got PPP heads for sale? Its gettin low on sale side.
If one do the math PPP trading in AUS for 16c = NZ 19.5c (0.819 exchange rate)

FRED
04-07-2006, 01:06 PM
Is it the new Director that is causing the stir?

FRED

JoeKing
04-07-2006, 01:17 PM
As at 2.15 pn NZ time... NO! sellers PPP-NZX

lambton
04-07-2006, 01:21 PM
quote:Originally posted by JoeKing

As at 2.15 pn NZ time... NO! sellers PPP-NZX


Cannot be the camel riders deal surely - based on a recent private placement @ 10 cents a share 12m shares in VOL worth $1.2m A / 433m shares on issue. Less than third of a cent per share? No closer to home my guess.

duncan macgregor
04-07-2006, 02:01 PM
It is strange the way its happening. PPPOA was last traded at 7c with buyers at 5.9c and sellers at 6.95c. That was the reason i dumpted them in the trader competition. I might have made a wrong call on that this month. I sold my NZOOD and bought into PPP with the money some time back which looks like a right call the way this is shaping up. macdunk

Panic E-Button
04-07-2006, 02:41 PM
Is that normal brokers practice: sold NZX order at 18.5c 41,427 14:02 on ASX exchange at 15.5c 41,427 12:03 (OZ is 2 hours behind)? They made gain on currency exchange.

digger
04-07-2006, 02:50 PM
Good call there DM on selling NZOOD when they were about 30% more valuable than PPP. Now PPP has the higher price. I was thinking of this just the other day and was going to post what a good call it was but you know how things are----the idea was there but i did not get around to it.
In the meantime i have done no trades with my holdings. Just going to wait out the development and drills.

JoeKing
04-07-2006, 03:18 PM
PEB
Looks like NOCASH is back. Correct me if I am wrong but I figure that is a lost of around 250 bucks??
Cheers
JK

Panic E-Button
04-07-2006, 03:25 PM
I found NZ$152.oo gain on exchange rate (0.818). This transaction is existing on both NZX and ASX.

lanenz
04-07-2006, 03:49 PM
Use this site http://www.xe.com/ucc/
then take off about 1% for bank charges.

41427 @ 18.5 cps = $NZ7664
41427 @ 15.5 cps = $AU6421 ...mid point when converted to nz currency is $7848 less about 1% bank fees

It appears you got what you wanted as as there was a sificiant seller at 15.5 cps in aus when converted they were able to cover their cost and have a little extra.

I have noted that ASB chagre quite a bit extra for currency transfer

JoeKing
04-07-2006, 04:28 PM
L.
I used http://finance.yahoo.com/currency and bought/sold via DB subtract about NZD$70 brokerage...= about 250 bucks loss.... mmm one smart trader.

Panic E-Button
04-07-2006, 08:42 PM
quote:
Cannot be the camel riders deal surely - based on a recent private placement @ 10 cents a share 12m shares in VOL worth $1.2m A / 433m shares on issue. Less than third of a cent per share? No closer to home my guess.

I got info that Volant traded at 40c /share.if that's right it looks like AU$4.8 mln[?]

lambton
04-07-2006, 09:34 PM
quote:Originally posted by Panic E-Button


quote:
Cannot be the camel riders deal surely - based on a recent private placement @ 10 cents a share 12m shares in VOL worth $1.2m A / 433m shares on issue. Less than third of a cent per share? No closer to home my guess.

I got info that Volant traded at 40c /share.if that's right it looks like AU$4.8 mln[?]


The placement was done at 10 cents. But even if they have traded at 40c still only 1.2c per share for PPP. So must be something else?

the machine
04-07-2006, 11:08 PM
with all my end of finacial year trading was considering selling 60,000 heads @ .14 au - am glad we resisted temptation and instead going for the ride starting with hector1.

Still do not know why the interest in ppp - someone building a nice interest maybe ahead of the drilling. A week into the drilling they could be more than 20c au - not unrealistic.

m

the machine
05-07-2006, 09:49 AM
Just thought of a reason why ppp are the flavour of the month - their interest in the mothballed oil production facility up the northwest.
Imagine the replacement value compared to what ppp's book value is.

Tap Oil come to mind as a company that might be very interested in this asset.

M

kittydashwood
05-07-2006, 10:30 AM
New Option adjusted high!! Pierced the yearly price channel and of course Money Flow dipped. The profit taking suggetss that the sp could quickly retrace and test the new floor AU.14? NZ .166?
What do posters think?



Book value for PPP is very interesting reading I strongly urge all to do there own research. The technicals suggest accumulation of a sleeper holding by a rival oiler or other smart money. Money Flow and OBV indicators have been rising since the beginning of the year.

hold iftwb ppp pppoa cvt

Panic E-Button
05-07-2006, 06:13 PM
from Stock Analysis today
This may explain the stronger Buy side
The article is much more detailed than the below quote


"Neil Tomkinson Takes a
Pan Pacific Petroleum Stake (PPP)

Canny Perth based mining identity Neil Tomkinson, long time business partner of geologist extraordinaire Josh Pitt, has purchased 33.5 million Pan Pac shares, representing 7.7% of its listed securities and has been invited to join its Board. Stock Analysis believes that Josh is not far behind him in this investment.....


Shareholders of Pan Pac should be cheered by the arrival on Mr Tomkinson on their Board, since he has a strong reputation as a thrifty business manager and a record of making money for himself and the shareholders he represents. "

PPP on ASX finished trading @ AU 16c (NZ 19.5c)

FRED
05-07-2006, 07:01 PM
ARGH....now that is what we need. This will keep things honest.

FRED

Panic E-Button
06-07-2006, 08:10 AM
Crude Oil finished on NYMEX over US $75 / barrel today as well, as NZ $ finished weaker against all other currencies. Ouuuch to the wallet - on the gas pumps.

Tnx to Cullen for no tax cut, no pay raise - but double tax on fuel (such GST and all other crap).

Panic E-Button
14-07-2006, 06:59 AM
I wonder where PPP is chart wise today? Maybe Phaedrus could help with comment on this?

duncan macgregor
14-07-2006, 09:58 AM
Has been on a steep uptrend from 10c in dec to 21c today. Go to direct broking website its free charts are good. Similar price in dec 04 before it downtrended. macdunk

digger
14-07-2006, 02:30 PM
And DM wisely sold out of NZOOD to buy PPP. That decision is looking better by the day. However i am starting to think PPP may have run a little too far. Expect pull back and consolidation me thinks.

duncan macgregor
14-07-2006, 02:40 PM
quote:Originally posted by digger

And DM wisely sold out of NZOOD to buy PPP. That decision is looking better by the day. However i am starting to think PPP may have run a little too far. Expect pull back and consolidation me thinks.

Great minds digger how did you read my mind?. I have pulled out, and made another play this week on HQP but dont tell anyone. I expect to get back in about nov - dec when the fun starts. I missed that cent at the top damit but you cant get it right all the time. macdunk

kittydashwood
14-07-2006, 03:21 PM
Yes. It's gone way too far best everyone start selling next week.
The price can't go any higher until drilling. Right?[}:)]

Onthemoney
14-07-2006, 07:41 PM
There is more to what is happening here than meets the eye watch this space....

the machine
09-08-2006, 12:33 AM
Revisiting Pan Pac Petroleum: Buy now
Exclusively for Premium Subscribers
(Tuesday, 8 August 2006)

CORPORATE developments have prompted PETER STRACHAN of StockAnalysis to take another look at one of his successful picks from earlier in the year, Pan Pacific Petroleum.
Full Story...

above article in energy review

M

Mr Tommy
09-08-2006, 12:48 PM
Heres the article

CORPORATE developments have prompted PETER STRACHAN of StockAnalysis to take another look at one of his successful picks from earlier in the year, Pan Pacific Petroleum.

Earlier this year, I recommended Pan Pacific Petroleum, valuing it at 22c and placing a price target of 15c on the company.

I added to my portfolio at 11c and sold it at 14c despite my strongly held view that the company represents good long-term value. Now there is new information in the market and we should not get fixed views on value.

Canny Perth-based mining identity Neil Tomkinson, long-time business partner of geologist extraordinaire Josh Pitt, has emerged with 33.5 million Pan Pacific Petroleum shares representing 7.7% of its listed securities and has been invited to join its board.

StockAnalysis believes Pitt is not far behind him in this investment. Clearly Tomkinson and Pitt agree with StockAnalysis, and have backed their judgement with their own "hard earned".

Shareholders of Pan Pac should be cheered by the arrival of Tomkinson on the board, since he has a strong reputation as a thrifty business manager and a record of making money for himself and the shareholders he represents.

Pan Pac is gearing up to drill its 50-80 million barrel Hector prospect in September. Success at this prospect, in which it has a 14.1% interest, would double my valuation for the company.

Recent work by Australian Worldwide Exploration (AWE) and its JV partners in the Taranaki Basin has led to a deeper understanding of its regional geology, and this experience has led to a more sophisticated use of seismic anomalism to detect the presence of hydrocarbons.

Based on this understanding, StockAnalysis expects that the risks associated with ongoing drilling work in the Taranaki will be reduced. Development drilling at its 10% held Tui/Amokura project is scheduled for December/January, which should see this 29 million barrel project in production by mid-2007 and ramping up to 50,000 barrels of oil per day.

At the same time, the JV partners will test two additional prospects within tieback distance from the Tui development in the Taranaki Basin. Additional success at the Taranui and Tieki prospects would take my valuation for the company to over 50c per share.

Pan Pac retains minor interests in several Carnarvon Basin permits, where some exploration drilling is imminent, and which add some risk-adjusted value.

Pan Pac is estimated to have only about $3 million in cash, but it has deposited security of $13.6 million for the Tui development and it has a debt facility to cover its remaining share of Tui development costs.

In addition, Pan Pac has 157.7 million 15c options expiring in June 2007. Underwriting these options would guarantee $24 million for the company. In the interim, success at Hector would render their exercise a lay-down misère in any case.

Discounting options exercise, Pan Pac is valued at 14cps for Tui oil and cash plus 9c for risked exploration upside. The arrival of Neil Tomkinson at the board, which was previously not noted for its ability to talk the talk, should improve the company's visibility in the financial community.

StockAnalysis recommends the stock as a buy ahead of exciting drilling and possible corporate rejuvenation with an initial target of 16c and short-term upside to 18c.

lambton
09-08-2006, 01:02 PM
Thanks Mr Tommy. That was interesting stuff.

FRED
09-08-2006, 01:16 PM
Yes good article and ongoing ana lysis from Mr Straun.

The .16 to .18 is in $A

Fred

trackers
18-08-2006, 12:36 PM
Quiet bunch lately huh? Any thoughts on this Libris drilling programme?

KentBrockman
18-08-2006, 08:03 PM
quote:Originally posted by trackers

Quiet bunch lately huh? Any thoughts on this Libris drilling programme?


Not sure what the likelyhood for success at Libris is, perhaps lower than that for Hector or Tieke.

If there is a find at Libris that would hopefully lift PPP well above 20c, and it would be a great kick off for the drilling campaign. Bring on Bricklanding and the Taranaki drills!

the machine
18-08-2006, 10:46 PM
Not sure what the likelyhood for success at Libris is, perhaps lower than that for Hector or Tieke.

If there is a find at Libris that would hopefully lift PPP well above 20c, and it would be a great kick off for the drilling campaign. Bring on Bricklanding and the Taranaki drills!

[/quote]

success @ bricklanding is the key to restarting operations on Airlie island where ppp have 22% interest in production facility.

the production facility has been mothballed for years but a restart will see the asset brought back into play and its probably worth au$10m to ppp.

M

M

KentBrockman
19-08-2006, 09:24 AM
quote:

success @ bricklanding is the key to restarting operations on Airlie island where ppp have 22% interest in production facility.

the production facility has been mothballed for years but a restart will see the asset brought back into play and its probably worth au$10m to ppp.



Machine, can you elaborate on this a little more? While Airlie Island was mentioned in earlier reports, I cannot see this asset mentioned in the latest report anymore. Are you sure it still exists?

the machine
19-08-2006, 01:55 PM
quote:Originally posted by KentBrockman


quote:

success @ bricklanding is the key to restarting operations on Airlie island where ppp have 22% interest in production facility.

the production facility has been mothballed for years but a restart will see the asset brought back into play and its probably worth au$10m to ppp.



Yes - will take a few aud$m to bring out of mothballs, but an asset of PPP that can hopefully be brought to bear [better] in the sp

M

Machine, can you elaborate on this a little more? While Airlie Island was mentioned in earlier reports, I cannot see this asset mentioned in the latest report anymore. Are you sure it still exists?

JoeKing
06-09-2006, 06:45 PM
Any comments on todays announcement?
Seems strange, yesterday 5th. was going to take up to 7 days to complete td (220 odd meters). Then did it in 24hrs?.
Also, would it be normal to case an exploration hole to 3220 metres?
Your thoughts......
Cheers
JK

trackers
06-09-2006, 06:59 PM
Not sure about this one either...I do know that I'm in TAP who's got interests in this hole, and they were down 4c today.

Not holding my breath tbh

FRED
06-09-2006, 09:26 PM
It does not take 7-10 days to evaluate a dry hole.

FRED

trackers
06-09-2006, 09:30 PM
Mm yeah I agree with that, but like old Joe says, they took 1 day to complete drilling they'd predicted would take 7 days....

and sheit lets face it, if they'd found something decent wouldn't they be shouting it to the world...i would be...

JoeKing
07-09-2006, 10:15 AM
Trackers... OLD JOE???? whoa
"if they'd found something decent wouldn't they be shouting it to the world"
Not necessarily, when SAE drilled Nth Yowlumne earlier this year there was NO excitement till after wirelog testing... about a week, then SP went 18c to about 80.Pity the hole buggered up and they have to redrill to complete tests, which makes me wonder about casing 2 miles of hole at Libris. Thats a lot of casing, unless they were pretty confident there was something at the bottom... guess we'll have to wait and see.
Cheers
JK
FRED, neighbor pulled 3 kg 'bait outta Kaituna yesterday...

trackers
07-09-2006, 10:48 AM
quote:Originally posted by JoeKing

Trackers... OLD JOE???? whoa
"if they'd found something decent wouldn't they be shouting it to the world"
Not necessarily, when SAE drilled Nth Yowlumne earlier this year there was NO excitement till after wirelog testing... about a week, then SP went 18c to about 80.Pity the hole buggered up and they have to redrill to complete tests, which makes me wonder about casing 2 miles of hole at Libris. Thats a lot of casing, unless they were pretty confident there was something at the bottom... guess we'll have to wait and see.
Cheers
JK
FRED, neighbor pulled 3 kg 'bait outta Kaituna yesterday...


Sorry JK just messing with ya.. My point was that theres two sides to the coin...On the one hand, like Fred says, they wouldn't spend a week evaluating a dry hand.

But on the other hand, oil companies are normally quite forthcoming when it comes to announcements re oil field discoveries even if there are complications

FRED
07-09-2006, 02:00 PM
Joeking....a good haul...hope he was nieghbourly.

Interesting it is PPP ,the junior partner that is commenting on this alone.

Do we have an attempt at a change of perception company wise?

I still think PPP will be throwing all positives at the market ASAP....to foil any gobbling prior to the upcoming action. NOG is relatively safe because of the coal thing confusion.

Note they are calling it a well and not a hole.

Interesting about the casing also.

FRED

kittydashwood
07-09-2006, 03:05 PM
I feel an upgrade coming on[8)]
Anybody follow Volant's progress?

Sharp737
07-09-2006, 07:44 PM
Bit of speculation here now. May or may not be successful. Running the casing down a long way is the norm I think. And that is so that wire logging can take place and also, if they strike hydrocarbons, they can perforate the casing and do flow testing if so desired.
However, they only took 1 day to do the last 200 or so metres. Usually, if they strike decent hydrocarbons, they will slow right down and take core samples which they have not done this time. That doesn't mean they havn't struck it but it does keep us in suspense. They did this with the Tui wells where no core samples or flow testing was recorded. But the well was a success. Flow testing would increase the expenses considerably as well so....the jury is out for the time being. Be great is she is a winner!

Kev

zorba
07-09-2006, 09:35 PM
Sharpie,

Zeus and his mates at the Oracle advise that Amokura was cored, but for Delphic certainty check old ASX drilling announcements .... they no doubt also did RFT and got oil samples and pressures and along with the laboratory core testing results they have ended up with projected initial productivity of 50K barrels/day using horizontal wells.

Given that its all so deep in the earth, very liberal libations will need to be poured down the gullet of good old Hades to ensure that he lets the black stuff up the invading pipes.

Check out the new Tui area map on the PPP website, it shows the location of the drill positions for the start of the Tui area horizontal wells (but note the map legend has confused the symbols used for exploration and development holes).

Also plotted is the Takapou-1 well to the north which was drilled by the Shell JV and its clear that they found significant oil and gas shows, no wonder AWE has boughtinto that permit and the next door permit as well. The Takapou-1 results add weight to the evidence supporting the Kahurangi Trough as the source kitchen area for oil in Tui, Maui and elsewhere like the shows in Pukeko-1.

This all adds momentum to the prospectivity for drilling the Hector structure, sitting as it does between two arms of the Kahurangi Trough !!

the machine
09-09-2006, 11:20 AM
Should know on Monday about Libra having oil.

Drilling reports have read over the years in this area show that coring into a prospect is not really done, instead side cores are later aquired

M

Sharp737
09-09-2006, 11:45 AM
Yeah, thanks for pointing that out Zorb & M. Appreciated. They may well be doing side cores. But even if this well does not come in, we have the Tui development on track along with the Tui prospects and Hector. Any of you guys watching BOW energy as well?

Kev

Tok3n
09-09-2006, 02:25 PM
I am, sold down a small % NZO at $1.0x a few months ago to pick up some BOW (been holding heaps since 2002 so figured time to take a profit). Looks like some interest picking up in that too in the past few days.

Hope there's not going to be major delays with Tui development like other oilers are experiencing at the moment.

Tok3n - Nervous PPP and PPPO holder

Sharp737
10-09-2006, 07:19 PM
Yeah, thanks for that. Could pay to start up a thread for BOW too and that is an interesting company with a lot of good prospects.
And go PPP!

Kev

JoeKing
11-09-2006, 08:24 AM
Sharp737
There are a couple of existing BOW threads in ST ASX forum and a few holders who frequent these pages... Mick100? Unfortunately Aussie stocks are not popular on ST. There is a good thread on Hotcopper http://www.hotcopper.com.au/post_thread.asp?fid=1&tid=361129#1245242
gotta wade through some annoying ramping though.
Banff due to be spudded this week....
Cheers
JK

the machine
11-09-2006, 09:58 AM
So Libris is a dud.

M

JoeKing
11-09-2006, 10:39 AM
Great.
Law of averages says every failure is one step nearer to a success. Just ONE GOOOD ONE! outta 5 I'll be happy. :-)))Of corse both Hector AND Tui would be very nice.
Cheers JK

Snow Leopard
11-09-2006, 10:47 AM
quote:Originally posted by JoeKing

Great.
Law of averages says every failure is one step nearer to a success. Just ONE GOOOD ONE! outta 5 I'll be happy. :-)))Of corse both Hector AND Tui would be very nice.
Cheers JK

I flip an ordinary coin nine times and each time it comes down heads.
Now what is the probability that on my next flip it will come down tails?

JoeKing
11-09-2006, 10:53 AM
MMM PT don't you have better things to do??
The answer in reality is 50% but a little positeveness never goes astray..
Cheers
JK

Snow Leopard
11-09-2006, 11:06 AM
no more than you it seems ;)

J R Ewing
11-09-2006, 11:20 AM
quote:Originally posted by Paper Tiger


quote:Originally posted by JoeKing

Great.
Law of averages says every failure is one step nearer to a success. Just ONE GOOOD ONE! outta 5 I'll be happy. :-)))Of corse both Hector AND Tui would be very nice.
Cheers JK

I flip an ordinary coin nine times and each time it comes down heads.
Now what is the probability that on my next flip it will come down tails?


I'd be starting to suspect that the game was rigged after 9 unlucky calls ;)

I.T.Ancient
11-09-2006, 02:27 PM
Precisely; After 9 heads in a row, the chances are increased that the coin is not as ordinary as it appears to be. Therefore 'tails' is a less than 50% chance. NB Does this have anything to do with PPP?

Snow Leopard
11-09-2006, 03:20 PM
http://pc59te.dte.uma.es/cdb/series/press/pics/hobbes.gif

I.T.Ancient
12-09-2006, 12:57 PM
Hmm. Too cryptic for me. Cats need to loose that enigmatic thing if they want to be man's best friend.

JoeKing
14-09-2006, 12:43 PM
OUCH! why the king hit!?

JoeKing
14-09-2006, 12:44 PM
Oh I see someone has just needed some milk money... whew :-)
Cheers
all
JK

KentBrockman
18-09-2006, 06:39 PM
http://www.scoop.co.nz/stories/BU0609/S00301.htm

Progress is being made.

But, more importantly, it looks like Nexus will hand over the OP this Wednesday:

http://stocknessmonster.com/news-item?S=NXS&E=ASX&N=334641

FRED
19-09-2006, 09:25 PM
Hope you are correct....suspect a slowdown with another drill prior.

A solid supply of sharp bits would be a should ask from the JV.

Bring on the Patriot.

FRED

Romer
21-09-2006, 06:03 PM
Quite a down jump today.
OP further away than we thought????

[8)]

J R Ewing
21-09-2006, 06:47 PM
Romer, I think this is just a belated reaction to the dry well. The share is so thinly traded that the reduction in buyer interest once Libris was over took a few days to come through.

I expect a nice lift once the OP gets in position :)

Sharp737
25-09-2006, 11:41 AM
Uh oh.... somebodies making a move on the options on the Oz....
6.3c... Do they know something?

Kev

clearasmud
25-09-2006, 05:32 PM
quote:Originally posted by Sharp737

Uh oh.... somebodies making a move on the options on the Oz....
6.3c... Do they know something?

Kev

I believe its just a reaction to the 2.02 per share(1.43billion$) Hardman Resources takeover offer.HDR was only trading around 1.30
Tap oil for example is also well up.

CAM
31-10-2006, 11:02 AM
You gotta be in to win.....

"If successful, Tieke and Taranui could more than double total Tui Area reserves, currently estimated at 27.9 million barrels, with Tieke delivering up to 15MMbbl."

"Discovery at Hector, which had potential recoverable oil of 50-60MMbbl, would trigger drilling of follow-up targets. The Ocean Patriot is scheduled to drill Hector-1 following Tui and Taranui."


Tui (PMP 38158) - Pan Pacific Petroleum (10%).

Hector PEP 38483 - Pan Pacific (14.091%).

CAM
31-10-2006, 11:17 AM
SEPTEMBER 2006 QUARTERLY ACTIVITIES REPORT

HIGHLIGHTS

o Tui oil development on schedule - drilling of Tieke prospect aims to
increase Tui project reserves.
o Bricklanding Carnarvon prospect to be drilled.

Tui Oil Area (PMP 38158) PPP 10%

The Ocean Patriot semi-submersible drilling unit is now in New Zealand waters
and will be mobilised to Taranaki for the Tui Joint Venture in about one
month, following drilling of a well in the Canterbury basin.

Tui project detailed design was largely completed during the September 2006
quarter and construction is well advanced for all components of the project,
including in particular the Floating Production, Storage and Offloading
vessel ("FPSO") that is being refurbished by Prosafe in Singapore. The
reservoir development plan has also been finalised. PPP is currently
reviewing the operator's proposals to increase the revised Tui construction
budget from the JV-approved US$204 million to US$225 million including
contingencies. The development is on target to meet the projected mid 2007
date for first oil production.

Tui Area proven and probable reserves are 27.9 million barrels of which PPP's
share is 2.8 million barrels.

Prior to drilling the wells to access these reserves, the Tui Joint Venture
operator has advised the rig schedule may allow a window for the Tieke
prospect, which is about 7 kilometres from the proven fields, to be drilled
which will maximise the rig availability and co-ordination with subsea
installations. Tieke has the potential to deliver up to a further 15 million
barrels and a discovery could significantly enhance the Tui Area project. A
decision on whether Tieke can be drilled at this time is expected to be made
in mid to late November 2006.

At 30 September 2006 PPP has utilised US$8.3 million (AUD$11.1 million) of
its US$22 million Tui development cash advance facility. The associated
US$10.0 million letter of credit facility has been drawn to US$8.6 million at
30 September 2006.

Hector Prospects and Hector South Sub-block (PEP38483)

While it had been expected that the first Hector-1 exploration well could be
drilled this year, it has been deferred in favour of giving priority to
potentially drilling the Tieke prospect this year within the Tui Area
petroleum mining permit. The Hector-1 well is therefore now likely to be
drilled after the Tui development wells, which would therefore be around June
2007.

The Hector prospect is a dip-closed structure at the Kapuni-C level (as
mapped on the 3D seismic survey of 2005) that has potential recoverable oil
of at least 50-60 million barrels.

Bricklanding Prospect (TP/7 1,2 & 3) 4.157%

Bricklanding is expected to spud late November 2006, and to test a large
downthrown three-way dip closure against a major basin boundary fault along
the Flinders fault zone. The two primary reservoir objectives at
Bricklanding are Middle/Late Jurassic sandstones (Calypso/Lower Dingo) and
Early Jurassic North Rankin Formation Sandstones. The structure relies on
cross fault seal against Early Permian/Late Carboniferous for the North
Rankin Formation.

The well is proposed 21.7km north east of Black Ledge-1 and 9.3km southwest
of Cadell-1. The location is 13km south of the Airlie Island facilities and
13km east of the Thevenard Island facilities and as such could be quickly
developed and at relatively low cost.

Libris Prospect (WA246-P) 10%

The Libris prospect drilled during September 2006, resulted in a
sub-commercial oil discovery in the Upper and Lower Angel formation targets.
The well has been plugged and abandoned.


PPP's drilling programme

Well Name PPP share Potential
Reserves Timing
Bricklanding-1 4.157% 100 m bbls Q4, 2006
Tieke-1 10% 15 m bbls Q4,2006
Tui development 1-4 10% Q4, 2006 to Q2, 2007
Hector-1 14.1% >50-60 m bbls Q2,2007
Taranui-1 10.0% 5-15 m bbls Q1, 2007

JoeKing
31-10-2006, 12:45 PM
Looks all good to me...

the machine
01-11-2006, 11:07 AM
IMO if there is a discovery @ Tieke then ppp s/p could increase by 20 cents - that is almost double.
Being an add on for Tui, with low cost to develop then most of any earnings go straight to bottom line.

Go Tieke.

M

lambton
01-11-2006, 12:07 PM
quote:Originally posted by JoeKing

Looks all good to me...



me too but is the market overlooking this little gem or has looked and doesn't like? [?]

JoeKing
01-11-2006, 12:37 PM
TM "..most of any earnings go straight to bottom line." Don't forget there are some hungry sharks at the top of the chain, maybe more crumbs might slip through to the patient minnows below..

Lambton... maybe with such good weather the market has gone fishing...like me.. I'm off >>> :D :D
Cheers
JK

Paddy
02-11-2006, 03:25 PM
OK, newbie question: Why trade 100 ppp shares @ 0.25? To give the appearance of a big lift and stimulate demand in people who didn't notice?

lambton
02-11-2006, 03:32 PM
quote:Originally posted by Paddy

OK, newbie question: Why trade 100 ppp shares @ 0.25? To give the appearance of a big lift and stimulate demand in people who didn't notice?


Probably - but pulled a few sellers out of the workwork.

J R Ewing
02-11-2006, 03:33 PM
quote:Originally posted by Paddy

OK, newbie question: Why trade 100 ppp shares @ 0.25? To give the appearance of a big lift and stimulate demand in people who didn't notice?


My guess is that this was an off-market transaction and that $25.00 was just a nice round number to put on the form. I would expect anyone clever enough to be manipulating the market would be a little more cunning :D

A few funny things happen from time to time - Like why would anyone pay $1.50 to convert an NZOOD to an NZO when they could have bought an NZO for less than $1.00 at the time (yes this really happened). I suspect this sort of thing happens mostly when estates are being settled.

lambton
02-11-2006, 03:46 PM
quote:Originally posted by J R Ewing


quote:Originally posted by Paddy

OK, newbie question: Why trade 100 ppp shares @ 0.25? To give the appearance of a big lift and stimulate demand in people who didn't notice?


My guess is that this was an off-market transaction and that $25.00 was just a nice round number to put on the form. I would expect anyone clever enough to be manipulating the market would be a little more cunning :D

A few funny things happen from time to time - Like why would anyone pay $1.50 to convert an NZOOD to an NZO when they could have bought an NZO for less than $1.00 at the time (yes this really happened). I suspect this sort of thing happens mostly when estates are being settled.


Why would an off market transaction be recorded on the market?

You don't have to put an amount (consideration) on the form anymore.

CAM
02-11-2006, 03:54 PM
Maybe they did it to win a sharetrading competition :D

JoeKing
02-11-2006, 05:20 PM
Or kill off some oldie diehard holders...
The sudden increase in market value of my portfolio sure caused a heart flutter for a short time...:D:D
edit: perhaps a better question might be "why would anyone be selling PPP at all with drill program so close"?
Cheers JK

Paddy
03-11-2006, 05:45 AM
quote:Originally posted by JoeKing

edit: perhaps a better question might be "why would anyone be selling PPP at all with drill program so close"?
Cheers JK


Very true...

lambton
03-11-2006, 07:56 AM
quote:Originally posted by JoeKing

Or kill off some oldie diehard holders...
The sudden increase in market value of my portfolio sure caused a heart flutter for a short time...:D:D
edit: perhaps a better question might be "why would anyone be selling PPP at all with drill program so close"?
Cheers JK


To take a profit. :D

J R Ewing
03-11-2006, 08:10 AM
Perhaps we should agree to sell 100 shares at $10.00 each and see if the banks will let us use the rest of our shares as security on some large loans :D[}:)]:D

JoeKing
05-11-2006, 09:59 AM
Check PPP depth.......
sellers = 0
bids = 0
AND I'M SITTING ON ALL OF MINE :D:D:D:D:D

KentBrockman
05-11-2006, 11:02 AM
quote:Originally posted by JoeKing

Check PPP depth.......
sellers = 0
bids = 0
AND I'M SITTING ON ALL OF MINE :D:D:D:D:D


And so you should.

The pending off-market takeover of Volant will bring some more cash into PPP's kitty, and it looks that shortly after Tieke spud Bricklanding will be drilled. While Bricklanding POS may be lower than Tieke, it is potentially quite large [8D]

Taijon
05-11-2006, 10:48 PM
Options currently selling for 8.8 cents each. Exercise price is $A 15 or $NZ 17.3 at the current exchange rate. For options to be in the money the share price needs to be 26 cents. If exchange rate fell back to 0.80 price would then need to be $NZ 27.5 CENTS Could well be that by June 2007. What do others think?

Discl: Hold PPP options

Sharp737
06-11-2006, 05:28 AM
Just bought some more.... :-)

Kev

lambton
06-11-2006, 08:28 AM
quote:Originally posted by Taijon

Options currently selling for 8.8 cents each. Exercise price is $A 15 or $NZ 17.3 at the current exchange rate. For options to be in the money the share price needs to be 26 cents. If exchange rate fell back to 0.80 price would then need to be $NZ 27.5 CENTS Could well be that by June 2007. What do others think?

Discl: Hold PPP options


35 cents for the heads somewhere between now and 30/6/07 is my guess. What the s/p is at 30/6 I haven't a clue.

JoeKing
06-11-2006, 10:47 AM
Looks like OP will not be lingering too long at Cutter, so could be spudding Tieke within a week maybe?
IF! Tieke/Taranui proves up and added Tui, AND Hector fits into OP timetable AND Bricklanding is half successful, PPP SP could well be pushing $1 imo.I C there are some more hopeful buyers this morning.
Cheers all holders
JK

Sharp737
06-11-2006, 11:45 AM
She's going...

Yep, cutter 1 a failure and rig getting ready for move to Tieke 1

http://www.asx.com.au/asxpdf/20061106/pdf/3zfh15r2x3ldl.pdf

Kev

Mr Tommy
06-11-2006, 02:31 PM
quote:Originally posted by Sharp737

She's going...

Yep, cutter 1 a failure and rig getting ready for move to Tieke 1

http://www.asx.com.au/asxpdf/20061106/pdf/3zfh15r2x3ldl.pdf

Kev


The PPP quarterly last week still said "A decision on whether Tieke can be drilled at this time is expected to be made in mid to late November 2006" but from the above AWE annoucement (they are TUI operator) it looks like the decision has been made.

bermuda
08-11-2006, 10:59 AM
PPP up 4 today to 25 cents.Looks like a few are loading up prior to Tieke.

Sharp737
08-11-2006, 11:37 AM
And the Tui development. Just a matter of time before it is blasted across the TV and newspapers...."NEW OFFSHORE OIL DEVELOPMENT STARTS...."

milker
08-11-2006, 12:17 PM
Could the timing of this(if a move on ppp is in the wind ) be anything to do with imminent government moves to thwart takeovers that avoid the 90% shareholder acceptance rule.

J R Ewing
08-11-2006, 12:38 PM
quote:Originally posted by milker

Could the timing of this(if a move on ppp is in the wind ) be anything to do with imminent government moves to thwart takeovers that avoid the 90% shareholder acceptance rule.


Can you elaborate on this - for the sake of those that are not up to speed on these moves :)

milker
08-11-2006, 12:54 PM
nzo has blocking 10% holding of ppp. Recent moves by aus companies on nz targets have only had to target 75% by schemes of arrangement under nz companies act. Such loopholes are shortly to be blocked.

J R Ewing
08-11-2006, 01:00 PM
quote:Originally posted by milker

nzo has blocking 10% holding of ppp. Recent moves by aus companies on nz targets have only had to target 75% by schemes of arrangement under nz companies act. Such loopholes are shortly to be blocked.


Thanks for that - I was aware of NZO's 10.1% holding but not the current loophole. No doubt TR will be pleased to see that loophole closed of in due course :D

Unicorn
08-11-2006, 03:21 PM
quote:Originally posted by milker

Could the timing of this(if a move on ppp is in the wind ) be anything to do with imminent government moves to thwart takeovers that avoid the 90% shareholder acceptance rule.


PPP is essentially an Australian company, so is unlikely to be asignificantly affected by any legistative changes here.

PPP closed last night on ASX at 20c (=23c NZ), so it should be no surprise for it to lift to around that level today.

Sharp737
08-11-2006, 05:14 PM
AWE's Cutter 1 well now being plugged and abandoned.
New stop would be Tieke 1 I would say :-)

http://www.asx.com.au/asxpdf/20061108/pdf/3zgp5wkr5j2ln.pdf

You little beauty!

milker
08-11-2006, 08:24 PM
thanks unicorn for trampling on a perfectly good conspiracy theeory

Sharp737
13-11-2006, 02:05 PM
JV to drill Tieke 1 once rig arrives in about 5 days!

http://www.asx.com.au/asxpdf/20061113/pdf/3zjxds79qs70l.pdf

Shares rising...

Oh Goodie :-)

Kev

kittydashwood
13-11-2006, 03:43 PM
Roll on Hector.
14% near the kitchen lovely


The Ocean Patriot will also drill the high potential Hector structure in
PEP38483 and then the Taranui prospect also within PMP38158 to finsh the six
month drilling campaign.

PPP's drilling programme

Well Name PPP share Potential
Reserves Timing
Tieke-1 10% 15 m bbls Q4,2006
Tui development 1-4 10% Q4, 2006 to Q2, 2007
Hector-1 14.1% >50-60 m bbls Q2,2007
Taranui-1 10.0% 5-15 m bbls Q1/Q2, 2007

lambton
13-11-2006, 05:41 PM
quote:Originally posted by kittydashwood

Roll on Hector.
14% near the kitchen lovely


The Ocean Patriot will also drill the high potential Hector structure in
PEP38483 and then the Taranui prospect also within PMP38158 to finsh the six
month drilling campaign.

PPP's drilling programme

Well Name PPP share Potential
Reserves Timing
Tieke-1 10% 15 m bbls Q4,2006
Tui development 1-4 10% Q4, 2006 to Q2, 2007
Hector-1 14.1% >50-60 m bbls Q2,2007
Taranui-1 10.0% 5-15 m bbls Q1/Q2, 2007



I love the leverage of this one. Go u good thing [8D]

the machine
13-11-2006, 10:03 PM
With recent appreciation in the sp then ppp now capitised at nz$100m.

This places them higher than at least one other company in the top 50 index.

In due course would that maybe entitle ppp to become a member of the top 50 index, bearing in mind majority of holding is on the asx and not nzx.

M

CAM
14-11-2006, 07:53 AM
Starting to turn up in the media.....probably get some TV of it going through the Cook Strait soon.


Oil drilling due to start off Taranaki coast

Tuesday November 14, 2006


The largest ever continuous drilling programme will start soon off the Taranaki coast, say New Zealand Oil & Gas and Pan Pacific Petroleum.

They say the Ocean Patriot drilling rig is under tow from the Canterbury Basin and it will take about five days to move it up the east coast of the South Island and through the Cook Strait to the Taranaki Basin.

"It's an exciting time for the company and for the industry with the start of this, the largest continuous offshore drilling programme ever undertaken in New Zealand," NZOG executive chairman Tony Radford said.

Drilling of Tieke-1, which has a potential recoverable volume of 15 million barrels, is expected to start late next week.

Tieke-1 is located in the Tui petroleum permit PMP 38158 and lies 40km offshore and about 8km from the Tui oilfield. The well will be drilled to 3600m in a water depth of 122m, which is expected to take 18 days.

Exploration in the Taranaki Basin by NZOG and its joint venture partners has resulted in three commercial discoveries from only five exploration wells in the past four years.

These discoveries - Tui, Amokura and Pateke - are currently being developed as part of the Tui area oil development within PMP 38158.

The development drilling for this project, consisting of four horizontal development wells, will start immediately after Tieke-1.

The Ocean Patriot will also drill the Hector structure and then the Taranui prospect to finish the six-month-long drilling campaign.

Pan Pacific Petroleum and NZOG are participants in Tieke-1 and PMP 38158. Others are AWE New Zealand, New Zealand Overseas Petroleum, and Mitsui E & P New Zealand.

NZOG shares closed up 1c at $1.03 yesterday.

- NZPA

Tok3n
14-11-2006, 08:00 AM
This article is less optimistic

"Gas exploration drilling begins" instead of oil

http://www.stuff.co.nz/stuff/0,2106,3859760a13,00.html

Sharp737
14-11-2006, 10:20 AM
Very poor heading by stuff.co.nz

Nevermind, all will be revealed :-)

KentBrockman
17-11-2006, 03:38 PM
TAP has finished the drilling of South Gibson and the Ensco67 is now on its way to Bricklanding-1:

http://stocknessmonster.com/news-item?S=TAP&E=ASX&N=342285

So it looks like Tieke and Bricklanding will both be spudded next week.

Hopefully, Tap's involvement in Bricklanding won't jinx it!

[:o)]

Sharp737
22-11-2006, 01:34 PM
Bricklanding 1 well has just spudded as well as Tieke 1 well....

http://www.asx.com.au/asxpdf/20061122/pdf/3zq45nxj1vy1m.pdf

Kev

lambton
22-11-2006, 03:54 PM
quote:Originally posted by Sharp737

Bricklanding 1 well has just spudded as well as Tieke 1 well....

http://www.asx.com.au/asxpdf/20061122/pdf/3zq45nxj1vy1m.pdf

Kev


Last chance to climb aboard in the low 20,s. [8D]

lambton
22-11-2006, 06:27 PM
Come on JK, PPPOA is a quick buck and thrown in u get another Thai meal on the house. :)

JoeKing
24-11-2006, 08:41 AM
Lambton, I already have a heap fpo's from cashed in nzoods/pppoas, rights issue etc. if any combination of extra holes are positive. perhaps buy Thai tuckershop! (in Bankok)
First update must be close??
Cheers
JK

Paddy
25-11-2006, 05:30 AM
PPP Closed up one on NZX, down one on ASX. Hmmmm. A little irrational exuberance on the NZX perhaps

lambton
27-11-2006, 08:22 AM
quote:Originally posted by Paddy

PPP Closed up one on NZX, down one on ASX. Hmmmm. A little irrational exuberance on the NZX perhaps


And you make this erudite comment based on final 2 sales of 10,000 shares?

Paddy
27-11-2006, 08:32 AM
quote:Originally posted by lambton


quote:Originally posted by Paddy

PPP Closed up one on NZX, down one on ASX. Hmmmm. A little irrational exuberance on the NZX perhaps


And you make this erudite comment based on final 2 sales of 10,000 shares?


Sure do - it's in line with my "can't learn anything unless you put it out there" policy

lambton
27-11-2006, 09:39 AM
quote:Originally posted by Paddy


quote:Originally posted by lambton


quote:Originally posted by Paddy

PPP Closed up one on NZX, down one on ASX. Hmmmm. A little irrational exuberance on the NZX perhaps


And you make this erudite comment based on final 2 sales of 10,000 shares?


Sure do - it's in line with my "can't learn anything unless you put it out there" policy


Fair enough :)

JoeKing
27-11-2006, 09:47 AM
Paddy fyi, while the sky might be falling in OZ, PPP is going thru the roof NZ. Up nearly 4.5% today already!!!!

Paddy
27-11-2006, 10:42 AM
JK - yes, glad the majority of my PPP is on NZX. Just interested to see if PPP.AU represents better value right now. Surely once the ACTUAL results of the current drilling program are known, there will be little difference in value between the 2 exchanges

kittydashwood
27-11-2006, 11:00 AM
PPP on the nzx is a nice currencey hedge for nz investors as the asx listing drives the price imho.

clearasmud
27-11-2006, 08:48 PM
Whos still holding their shares and their options thru the drill?
I am and its my 2nd biggest investment mostly because its almost doubled.:)

digger
27-11-2006, 10:04 PM
Me,and the other drills as well.

lambton
28-11-2006, 08:06 AM
Me 3 [8D]

bermuda
28-11-2006, 08:22 AM
Me holding.Have waited 2 years for this drill....but it is amazing how I am so confident when in reality the chances are 1 in 4.

Sharp737
28-11-2006, 09:21 AM
Here's hoping that Tieke 1 will be a gusher. Ok, some may not be too optimistic but it does appear that Tieke 1 is the next logical drilling choice for the Tui development and for a layman like me, for these reasons:

1. If you look at the map, Tieke continues in a line down towards the Maui field.

2. It's close to Tui and even closer to Maui. Chances have to be good although there is always a risk.

Now whether or not Tieke 1 is a success, there is the Tui development to start immediately after Tieke 1. That must produce some publicity as New Zealands first genuine offshore oil field development (excluding the Maui oil leg).

Also, Bricklanding 1 in Australia is interesting with two targets. After the first taget is hit, the well will be deviated to the second target according to the TAP oil report. If this well is successful, then development can proceed quickly and quite cheaply because of nearby facilities of which I believe PPP has a stake in.

So all in all, pretty darn exciting! IMHO PPP is a No Brainer. It MUST go up, if not now, then certainly later.

Sharp

Kev