NZ Oil & Gas (NZO)

[Chippie]

Original target zone was expected at approx 2850m with a total depth of 3150m planned

They hit the target zone at 2896m.

They had estimated 51 days to drill Momoho. Started drilling 19 June = 18 days to get to target depth. Does anyone have any theories on the short time it has taken to drill so far, did they underestimate or did they allow 26 days to complete testing and supsend the well for development?

[Oiler]

All good Oiler. Are you referring to news on Momoho?

I can't wait to read the annual report - wonder when it will come out.

I hope everyone topped up today :D The best is yet to come..... go Momoho.
Would be nice to see an update on the flow rates from NZO ;)

Let the good times roll

Oiler

[zorba]

Original target zone was expected at approx 2850m with a total depth of 3150m planned

They hit the target zone at 2896m.

They had estimated 51 days to drill Momoho. Started drilling 19 June = 18 days to get to target depth. Does anyone have any theories on the short time it has taken to drill so far, did they underestimate or did they allow 26 days to complete testing and supsend the well for development?

Chippie,

These big offshore ocean rigs sure drill like the clappers ....

I'm picking that the 51 days also includes time for coring the Farwell formation, to do that they will POOH (pull out of hole) to change drill bit to a coring drill bit, then run in again etc, takes time. Cutting a core will alow the geologists and reservoir engineers to determine the quality of the Momoho reservoir and its ability to produce commercial gas and condensate flows.

Also, if my memory serves me, they are drilling near a fault that cuts across the structure, and I think they want to also test the other side of the fault, to do this they will probably have to back up the main well to a higher level and then kick of sideways to drill a deviated well across to the other side of the fault to test the target strata in that part of the structure.

All this takes time.

Looking at earlier announcemments and old Annual Reports it looks like a successfull Momoho-1 drill into the Momoho structure could indicate a doubling (even trebbling !) in Momoho+Kupe reserves for gas and liquids (oil and condensates) !!

Go Momoho+Kupe ........ Go NZOG ........ Go the Share Price to $2.00 and beyond !!!!

Z

.

[fish]

If it was good news the market didn't react mind you it was a poor day again so understandable?

It is very good news

NZO announced in may that if hydrocarbons were found the p50 level is 200 BCF equivalent.
This qualifies for only 5% royalties and it can be easily developed by tapping into kupe and an onshore production facility being completed.
Oil looks like it has found a new level where it may be for some time so high prices should be achieved for minimal expenses and costs .
I believe a sharebroker report valued momoho at 50 cents a share at the p50 level
Tapis is over us $150
nz dollar below $0.76 us
Tui is producing oil worth many times that initially predicted

The market reacts to many things-successful investors get in before the market moves.
I see nzo is up a bit on the asx .
No idea how nzx/nzo will behave tomorrow and will be too busy to follow it

[leecoker]

Would be nice to see an update on the flow rates from NZO ;)

Let the good times roll

Oiler
http://www.nzog.net/tui/
Production Performance (since 30 July 2007)
Total production for FY08 (to 30 June 2008): Approximately 14.2 million barrels.
NZOG's share of production for FY08: Approximately 1.78 million barrels.

Production since 1 July 2008
Up to 6 July: Approx 150,000 barrels. NZOG's share of production approx 20,000 barrels.

If the above is correct (150,000 barrels) wouldn't that suggest that the production levels have already dropped well under 40,000 barrels a day?

[Corporate]

http://www.nzog.net/tui/
Production Performance (since 30 July 2007)
Total production for FY08 (to 30 June 2008): Approximately 14.2 million barrels.
NZOG's share of production for FY08: Approximately 1.78 million barrels.

Production since 1 July 2008
Up to 6 July: Approx 150,000 barrels. NZOG's share of production approx 20,000 barrels.

If the above is correct (150,000 barrels) wouldn't that suggest that the production levels have already dropped well under 40,000 barrels a day?

Good spotting - Surely that must be wrong.Tui averaged 42,500 every day for 335 days. It seems wierd that it can be as low as 25,000 for the six days of July.

Anyone else got thoughts?

[fish]

At the stage of finding hydrocarbons nzo have said p50 for momoho is
200bcf=166 million tons oil equivalent=1245 million barrels oil
nzo share is 15%=187 million barrels oil

This is far too much and i assume i have been far too optimistic
Have used the definitions below
Barrel
A unit of measure for oil and petroleum products that is equivalent to 42 U.S. gallons.
1 barrel = 35 Imperial gallons (approx.), or 158.978 liters (approx.);
7.5 barrels = 1 tone (approx.);
6.29 barrels = 1 cubic meter.

BBL
Barrel

BCF
Billion cubic feet
1 bcf = 0.83 million tones of oil equivalent
Please could someone do there own calculations and post the P50 level in barrels of oil equivalent

[777]

Good spotting - Surely that must be wrong.Tui averaged 42,500 every day for 335 days. It seems wierd that it can be as low as 25,000 for the six days of July.

Anyone else got thoughts?

Do they pump it 24/7 or is there some down time due maintenance which fell in these six days?

[Corporate]

Do they pump it 24/7 or is there some down time due maintenance which fell in these six days?


Not sure. Good question though. I assume they pump it on weekends?

[Mingeathinaikos]

IT WOULD BE NICE ------BUT THE ANSWER IS NO!!!!:( $1 =TAX@ royalitywill leave ==57cents

Malcolm, the majority of your posts recently I notice you have found the '@' key.......whilst your CAPSLOCK seems to have a mind of its own, I am sure that your keyboard has a '&' on it....

@ = at
& = and

[leecoker]

Do they pump it 24/7 or is there some down time due maintenance which fell in these six days?

One can only assume that there was some down time as production shouldn't drop away that fast. Maybe it could have something to do with a shipment of oil?

[fish]

From the HHG sp valuation
NZO has current upside potential as follows:
• Further Tui upgrades There is scope for further field
upgrades in the coming months
• Momoho gas/liquids commercial discovery – Momoho is
to be drilled in May/June 2008. NZO expressed their
belief that this may hold 200bcf of gas and liquids (120pJ
gas, 8mmbls of oil and 500kT LPG) which we estimate
very approximately to equate to a value of US$120m or
perhaps NZ$0.45 extra on NZO’s share price.
• Kupe upgrades – The Kupe field could be upgraded
following the start of production (mid-09)

[Corporate]

One can only assume that there was some down time as production shouldn't drop away that fast. Maybe it could have something to do with a shipment of oil?

Yeah doesn't seem right. I wonder if we emailed asking NZO whether we would get the answer..

[Chalice]

Yeah doesn't seem right. I wonder if we emailed asking NZO whether we would get the answer..

I e-mailed NZO via thier website - asked Chris R to post an explaination on this site.

[Corporate]

I e-mailed NZO via thier website - asked Chris R to post an explaination on this site.

Great thanks for Chalice. If productions has actually declined that much then 9million barrels for 08/09 is looking very doubtful.

[Wilkins_Micawber]

http://www.nzog.net/tui/
Production since 1 July 2008
Up to 6 July: Approx 150,000 barrels. NZOG's share of production approx 20,000 barrels.

If the above is correct (150,000 barrels) wouldn't that suggest that the production levels have already dropped well under 40,000 barrels a day?

From memory, just before end of June the production rate dropped off and NZO reported on this web site that bad weather had affected production. I don't know what weather off the 'naki has been like lately but judging by what has hit most of the country (except sunny Hawkes Bay :)) I'd say that might be a likely cause for the drop off, rather than what would have to be a rather extreme increase in the water cut. Can only hope :confused: (but it would have been nice if NZO could have included a reason with the production figures :rolleyes:)

[the machine]

Anyone study the latest Director interest notices, released after the NZ market closed? Several directors have increased their interest through the exercise of options. Not large numbers of options held and subsequently exercised by them however.

Radfords disclosure notice is interesting. It relates to his indirect holding interests. Some options were allowed to lapse, others were sold for 2 cents. Last week a super fund in which he has an indirect interest sold NZO shares. Is this a bit of a worry? He may not have had any influence over this fund.

The momoho announcement today has had virtually no impact on the share price - a bit surprising but perhaps current shareholders are too stretched having exercised options, and potential new holders are waiting for a more definitive announcement.

Fish, I would be careful about getting too highly leveraged.



asx price came off its low after the announcement with increased volume.

at one stage was 3c down and finished 1c down

[Unicorn]

The weather has been pretty rough on a number of days lately. That will interfere with both production and offloading. It is winter. They are operating offshore in the Tasman.

[Lion]

Fish,

http://www.onlineconversion.com/energy.htm (http://www.onlineconversion.com/energy.htm) reckons a billion cu ft of gas is about equivalent to 26,000 tonnes of oil. So 200 bcf would be around 5.2m tonnes, and 15% of that about 780,000 tonnes

mIngeathinaikoS, mALCOLM,s TYPoGRAFie @ SPLling????????!!!!! i ThInk it/s dilbrate, misefl

[the machine]

nzo website went missing for a while.

the last 1,000m for momoho went pretty quick.

will they do coring now as drill deeper or drill through the structure, then backup to 2800 m and sidekick, to core the best zones.

will be a week or 2 of interesting reporting.

will it be daily?

M

[temptation]

5.2m tonnes @ 7.5 barrels per tonne = 39 million barrels of oil (equivalent to 75% of current Tui estimate)

[the machine]

http://www.crownminerals.govt.nz/cms/petroleum/conferences/conference-proceedings-1998/resolveUid/f6abb6491b66e223f46f336a4a94b4bb

above link on crown minerals gives some very interesting detail about kupe

M

[bbob]

Reply to an e-mail requesting more frequent posted information on Tui production Chris Roberts (Public Affairs Manager)
"What we are able to do is once or twice a week update our website with the approximate running production total."

After thanking him I have asked when this is likely to begin. Hopefully soon.

Cheers
Bbob

[the machine]

some data from crown minerals re kupe 4 south and kupe 5 south - had to cull it a bit

their website is really good - just wish we understood all the terms.

M

Well Sample
________________________________________

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Showing 1 items of Total Count
Page 1 of 1


Well Name Like KUPE SOUTH-4






Well Name
Core
Unwashed Cuttings
Side Wall Core
Washed Cuttings
Oils Water
Others



KUPE SOUTH-4 4 CORES; 3053.5-3118.1m 180-575 (15m), 580-3800m 3 SETS; NZGS(1), P/C(2) 3 SETS; 1841-3772m 580-1820m (10m), 1820-2840m (5m), 2840-3800m (3m) 3 SETS; NZGS(1), P/C(2) CONDENSATE PALEO 2 SETS; NZGS(2) 220-1605m





Well Name Kupe South-5
Well Type appraisal
Well Operator TCPL RESOURCES LTD
Spud Date 20 Sep 1990
Completion Date 31 Oct 1990
Latitude -39.9135266726
Longitude 174.146590884
Datum WGS84
Confidential N
No of Wellbores 1
Online Well Logs 4
No of Archive Objects 119




Available Petroleum Reports
Well Name Report Number Report Title Report Type

[Bixbite]

Fish,

Based on NZOG 2007 annual report – page 48 (Energy Values)

1,000 standard cubic ft of gas yields approximately 1 gigajoule of heat
1 petajoule (PJ) = 1,000,000 gigajoules (GJ) = approximately 1 billion cubic feet (bcf)


200 bcf = 200,000,000 GJ

1 barrel = 5,800 standard cubic ft of gas = ~5.8 gigajoule of heat (GJ)

200 bcf = ~34.5 million barrels of oil

Wish I'm right.

Cheers

[Bixbite]

Addition


1 PJ = ~1 bcf

1 PJ of Natural Gas = 172,000 barrels of oil equivalent

200 bcf = 172,000 barrels x 200 = ~34.4 million barrels of oil (same as the above)


Cheers

[Lion]

200 bcf = ~34.5 million barrels of oil

Wish I'm right.

Cheers

Sounds encouraging, allright. But let's remember it's gas (well, probably gas & condensate, maybe oil yet to be found!!) and they haven't actually got 30m bbl of oil, just its energy equivalent.

Exciting times

[Chalice]

The weather has been pretty rough on a number of days lately. That will interfere with both production and offloading. It is winter. They are operating offshore in the Tasman.

"Modification of the FPSO to include an innovative swivel production turret, allowing the vessel to swivel for currents and weather whilst maintaining production output"

Be interesting to know the timing of this modification as it should improve output in a rough part of the world.

[Nitaa]

Good spotting - Surely that must be wrong.Tui averaged 42,500 every day for 335 days. It seems wierd that it can be as low as 25,000 for the six days of July.

Anyone else got thoughts?Wasnt the weather not too good a few days ago? 2 days of shut down might explain it. I dont think the workers will be operating in 100k plus winds

[Unicorn]

"Modification of the FPSO to include an innovative swivel production turret, allowing the vessel to swivel for currents and weather whilst maintaining production output"

Be interesting to know the timing of this modification as it should improve output in a rough part of the world.

That modification was made prior to delivery. It allows production to continue as the ship changes direction with the wind. It does not magically allow production, or offloading, to take place in strong winds and high seas.

[shasta]

That modification was made prior to delivery. It allows production to continue as the ship changes direction with the wind. It does not magically allow production, or offloading, to take place in strong winds and high seas.

Update on results of the options conversion

http://www.stocknessmonster.com/news-item?S=NZO&E=ASX&N=301403

[Jess9]

Anyone have handy the cash per share on NZO post conversion? With all the money in the bank I guess it could be a significant sum/share now.

[Lion]

Stocknessmonster says 92.5% of options have been exercised, raising NZ$192,724,465.50

[Xerof]

47 cents for FY08F, according to a recent valuation, based on a 90% oppies conversion rate, so maybe slightly higher, as it came in at 92.5%

You can find oodles of such info if you just research on NZO website under Investor Section/Broker research. I'm referring to John Kidd's June 23 research note - puts the total DCF value at $2.32 with upside....

[Bob C]

With NZO's market cap of around $650m (per this morning's announcement) this places the company as the 14th largest stock on the NZX, ahead of the current 14th and 15th placed; F&P Appliances ($521m) and Nuplex ($413m).

So, surely its just a matter of time until NZO breaks into the Index, leading to a scramble for stock from the Instos/Index funds similar to the recent run up when PRC entered the top 50?

The current numbers are obviously based on "depressed" share prices for all stocks (15% oversold if you believe the report out from Forsyth Barr today) but surely NZO has more potential for a price re-rating once the Annual Report is published, no doubt amongst some rather depressing numbers from other big name NZ companies.

At $2.00 NZO would over-take the next biggest company in the NZ15 Index; AMP NZ Office Trust (at $770m).

Bob C

Disc. Holding NZO and buckled in for lift-off.....

[Corporate]

47 cents for FY08F, according to a recent valuation, based on a 90% oppies conversion rate, so maybe slightly higher, as it came in at 92.5%


I don't think 47cps cash is correct. $192m/383m = 53cps to begin with. Ignoring all the tui cash etc.

[the machine]

any idea if there will be daily reports now that momoho drill into the target?

M

[Xerof]

It's net cash of 47 cents

They do have debt on the other side, and whilst the dosh is flooding in from Tui, doubtless there's a fair bit coming out of Arkwright's till for sundries.

BTW, Energy Index getting trashed here in NYK this morning.....Transport is taking the gains......

[Nitaa]

oil getting wacked a bit over the last 2 days and quite rightly so. The dramatic rise in oil prices is creating a lot of volatility. Im hoping for some stabililty around $100 to $120.

One thing i do no is i dont know the short term of oil prices. Go up $160 plus or sub $110 in the next 4 to 8 weeks or stay somewhere in the middle? Oh for a crystal ball.

[Naylz]

Radfords disclosure notice is interesting. It relates to his indirect holding interests. Some options were allowed to lapse, others were sold for 2 cents. Last week a super fund in which he has an indirect interest sold NZO shares. Is this a bit of a worry? He may not have had any influence over this fund.



Is this a worry at all. Is there something we should know?

[trackers]

Is this a worry at all. Is there something we should know?

See how money he converted, and owns? Not surprised he had to let a small amount lapse. A fund he has a holding in selling $200,000 is neither here nor there imo. (From what I can tell he took up 2,300,000 shares at $1.50 a share, and sold 300,000 oppies but please correct me if I'm wrong!!)

Looks like he has a warchest of about 9million shares...


check out the announcement:
http://www.stocknessmonster.com/news-item?S=NZO&E=ASX&N=301339

file:///C:/DOCUME%7E1/cnwjl1/LOCALS%7E1/Temp/moz-screenshot-1.jpg

[Nitaa]

SP is holding up well. Weakness has been snuffed out and PRC, drop in oil prices made no difference.

[Chris Roberts]

The information on Tui Production provided through the NZOG website has been updated:

Production since 1 July 2008
Up to 8 July: Approx 210,000 barrels. NZOG's share of production approx 26,000 barrels.
NB: Weather issues and testing requirements have temporarily affected production since late June.


The forecast total production for FY09 is 9 mmbbls. Temporary issues do not alter that forecast.

[Chalice]

The information on Tui Production provided through the NZOG website has been updated:

Production since 1 July 2008
Up to 8 July: Approx 210,000 barrels. NZOG's share of production approx 26,000 barrels.
NB: Weather issues and testing requirements have temporarily affected production since late June.


The forecast total production for FY09 is 9 mmbbls. Temporary issues do not alter that forecast.

Thanks for your prompt reply to my e-mail and thanks for posting it on Sharetrader - great to see the 92.5% conversion of options - onwards & upwards!

[trackers]

The information on Tui Production provided through the NZOG website has been updated:

Production since 1 July 2008
Up to 8 July: Approx 210,000 barrels. NZOG's share of production approx 26,000 barrels.
NB: Weather issues and testing requirements have temporarily affected production since late June.


The forecast total production for FY09 is 9 mmbbls. Temporary issues do not alter that forecast.

Thanks Chris, legend :)

[temptation]

There seems to be a lot of attractive oil & gas juniors going cheap in Oz. You would think this could be a good time for a company with a warchest and a steady income to go shopping!
eg; VPE, BOW, MOS, CUE, PPP,

[Bilo]

The information on Tui Production provided through the NZOG website has been updated:

Production since 1 July 2008
Up to 8 July: Approx 210,000 barrels. NZOG's share of production approx 26,000 barrels.
NB: Weather issues and testing requirements have temporarily affected production since late June.


The forecast total production for FY09 is 9 mmbbls. Temporary issues do not alter that forecast.

There should be a formal notice to the NZX re this changed estimate. Hamilton Hinden Green provided the most recent valuation at 218cps But assumed 0.7M barrels in 2009 financial year. From memory this was about the number included in DS's last presentation.

Here we have 1.125M barrels for NZO ex Tui in 2009. A mere USD42M net income higher - some may say NOT significant! But at prospective NZD/USD of sub .75 nearly NZD60M more than estimated. Sure it comes fwd from future years...

Tut Tut NZO, it is supposed to be continuous disclosure...and a forecast should always be best estimate between two numbers - a high and a low - or you will always be wrong.

Thanks anyway for keeping some of us informed!

[fish]

[QUOTE=Bilo;211689]There should be a formal notice to the NZX re this changed estimate. Hamilton Hinden Green provided the most recent valuation at 218cps But assumed 0.7M barrels in 2009 financial year. From memory this was about the number included in DS's last presentation.

nz sharebrokers consistently undervalue nzo by underestimating resources ,price oil and the fall in nz dollar-touching us 75 cents as i write-and tapis around 145.

As you point about Bilo there is a big difference -50% more in the amount of oil predicted in just the space of a month.

Add on MOMOHO, exchange rate fall and increase price oil and the HGG valuation would be around $3-as we have both have estimated several weeks ago

[777]

Business program on TV1 tomorrow morning at 6 am is to include NZOG segment.

[Chalice]

Business program on TV1 tomorrow morning at 6 am is to include NZOG segment.

Now we have a tea lady at TVNZ - thanks for the headsup 777!

[the machine]

expect momoho update first thing tomorrow, after cementing casing and drilling or coring ahead.

all those little hydrocarbons turning into lots of $

bring it on

M

[777]

Now we have a tea lady at TVNZ - thanks for the headsup 777!

I'm not the tea lady. Just saw the trailer on the box tonight.

[Chalice]

I'm not the tea lady. Just saw the trailer on the box tonight.

Thanks anyway - missed it!

[BigBob]

Nothing new really...

Apart from maybe "we are expecting around 1m bbls from TUI in this financial year".... but even that's not really new....

http://tvnz.co.nz/view/video_popup_windows_skin/1899118

[Drone]

US markets getting smashed late in the session, s&p down 2.3%, oil steeadyish though. Could be an interesting session locally.

You've got to say it looks like iran/israel are headed for war, both side's rhetoric leave them with only two option, a humiliating back down or escalation. Both leaders are weak domestically so backing down may not really be an option.

[da puntzda]

Still feels like there is an element of option profit taking going on - and the sp is trading in a very tight range around $1.70

[digger]

Still feels like there is an element of option profit taking going on - and the sp is trading in a very tight range around $1.70

That is about right and will continue into August. Same old story happens every time.Takes a month to 6 weeks to shake off a cash raising of this size and especially in such a frightened market that we are now in.

[Chris Roberts]

There should be a formal notice to the NZX re this changed estimate. Hamilton Hinden Green provided the most recent valuation at 218cps But assumed 0.7M barrels in 2009 financial year. From memory this was about the number included in DS's last presentation.

Here we have 1.125M barrels for NZO ex Tui in 2009. A mere USD42M net income higher - some may say NOT significant! But at prospective NZD/USD of sub .75 nearly NZD60M more than estimated. Sure it comes fwd from future years...

Tut Tut NZO, it is supposed to be continuous disclosure...and a forecast should always be best estimate between two numbers - a high and a low - or you will always be wrong.

Thanks anyway for keeping some of us informed!
Bilo, there WAS a disclosure of the 9 million barrel forecast for FY09. It was in our statement to the sharemarket on 20 June.
If people on this thread want to keep up with what NZOG is saying, they should spend more time on our website and on the NZX website. We will always disclose to the market first.

[clips]

very good comment Mr Roberts.......

[Bilo]

Bilo, there WAS a disclosure of the 9 million barrel forecast for FY09. It was in our statement to the sharemarket on 20 June.
If people on this thread want to keep up with what NZOG is saying, they should spend more time on our website and on the NZX website. We will always disclose to the market first.

Sorry Chris
I missed that one.

[Nitaa]

Chris.

Thanks for your comments on these forums which is highly appreciated by all. The pr machine prior to you coming on board was almost non existant for a couple of years although there were promises made way back then to improve it.

Continue the fabulous work.

side note.. outcome of ssh will be interesting i think

[777]

Stock Exchange announcement.

NZO
10/07/2008
MINE

REL: 1102 HRS New Zealand Oil and Gas Limited

MINE: NZO: Momoho Exploration Well Disclosure Notice

New Zealand Oil & Gas Ltd (NZOG) advises that as at 2.00pm on 9 July, the
following operations have been completed on Momoho 1:
- The 12-1/4 inch section was drilled to a final depth of 2,898m MDRT
(measured depth below rotary table).
- The 9-5/8 inch casing is currently being run.

Over the coming week, the rig is expected to complete running and cementing
the 9-5/8 inch casing, drill the 8-1/2 inch section and acquire wire-line
logs over the primary reservoir target (Farewell Formation).

Momoho is an exploration well 6 kms southeast of the Kupe central field, off
the coast of South Taranaki. Drilling began on 13 June 2008 and progress to
date is summarised as follows:
Well section: 36inch 22inch 17inch 12 1/4inch
8-1/2inch
Planned Depth: 170.5m 550m 1,830m 2,855m 3,142.5m
Actual Depth*: 180m 561m 1,845m 2,898m
-Depths are cumulative and show total well depth measured below the rotary
table (MDRT).

The well is expected to take approximately 51 days to drill.

ENDS.

[trackers]

NZO
10/07/2008
MINE

REL: 1102 HRS New Zealand Oil and Gas Limited

MINE: NZO: Momoho Exploration Well Disclosure Notice

New Zealand Oil & Gas Ltd (NZOG) advises that as at 2.00pm on 9 July, the
following operations have been completed on Momoho 1:
- The 12-1/4 inch section was drilled to a final depth of 2,898m MDRT
(measured depth below rotary table).
- The 9-5/8 inch casing is currently being run.

Over the coming week, the rig is expected to complete running and cementing
the 9-5/8 inch casing, drill the 8-1/2 inch section and acquire wire-line
logs over the primary reservoir target (Farewell Formation).

Momoho is an exploration well 6 kms southeast of the Kupe central field, off
the coast of South Taranaki. Drilling began on 13 June 2008 and progress to
date is summarised as follows:
Well section: 36inch 22inch 17inch 12 1/4inch
8-1/2inch
Planned Depth: 170.5m 550m 1,830m 2,855m 3,142.5m
Actual Depth*: 180m 561m 1,845m 2,898m
-Depths are cumulative and show total well depth measured below the rotary
table (MDRT).

The well is expected to take approximately 51 days to drill.

ENDS.

Looks like a copy/paste job (note, authored by Origin)...Nothing interesting there. Disappointing

[Bob C]

Nita; picking up on your comment regarding ssh, does anyone know what the time limit is for disclosures to be made? Surely all stock from the options take up has been issued now so shareholders know their positions?

Bob C

[Bob C]

With help from Google, I think I've answered my own question; according to the NZ Securities Commission, disclosure must be made when:

* a person becomes a substantial security holder (at the 5% threshold);
* whenever a shareholding changes by 1%;
* when there is a change in the nature of any relevant interest held by a substantial security holder; and
* when a person ceases to be a substantial security holder.

http://www.newsecuritieslaw.govt.nz/overview/holder-disclosure/

This would indicate that all such disclosures for NZO should have already been made?

Bob C

[Nitaa]

With help from Google, I think I've answered my own question; according to the NZ Securities Commission, disclosure must be made when:

* a person becomes a substantial security holder (at the 5% threshold);
* whenever a shareholding changes by 1%;
* when there is a change in the nature of any relevant interest held by a substantial security holder; and
* when a person ceases to be a substantial security holder.

http://www.newsecuritieslaw.govt.nz/overview/holder-disclosure/

This would indicate that all such disclosures for NZO should have already been made?

Bob CIf i am not mistaken, there may be a time frame applied or indication relating on the time when it needs to be disclosed. Keep in mind that with mountains of mail to go through and sort all the option conversions then i suspect that over the next 1 or 2 weeks any ssh changes, new etc will be announced.

[Observer]

I see from the list of top 20 shareholders that the "tea lady" sits at no.11 with >5M shares. No wonder she is able to sometimes give us the "good oil".

Cheers
Observer

[trackers]

If i am not mistaken, there may be a time frame applied or indication relating on the time when it needs to be disclosed. Keep in mind that with mountains of mail to go through and sort all the option conversions then i suspect that over the next 1 or 2 weeks any ssh changes, new etc will be announced.

Current top 20 just received in the mail (though as you mention, I'm sure there are changes to come)... ACC leads the pack with 5.5%. Nothing too interesting in there...

I see "Sik-On Chow" comes in at 6; The only relevant google search I could find to that name was in the PPP top 20 shareholders list circa 2003!

Does show that NZOG is dispersed amongst a very large pool of people (the top 20 only holds 30%-ish, making it ripe for a takeover play imho)

[Nitaa]

Current top 20 just received in the mail (though as you mention, I'm sure there are changes to come)... ACC leads the pack with 5.5%. Nothing too interesting in there...

I see "Sik-On Chow" comes in at 6; The only relevant google search I could find to that name was in the PPP top 20 shareholders list circa 2003!

Does show that NZOG is dispersed amongst a very large pool of people (the top 20 only holds 30%-ish, making it ripe for a takeover play imho)Unfortuntaely the mail will be sent to my nz address. Any chance someone can put the details on a spread sheet and wack it up on the forum?

Watch this space in the next 2 weeks... acc will increase their stake with the oppie coversion.. who are the others? will be interesting

[trackers]

Unfortuntaely the mail will be sent to my nz address. Any chance someone can put the details on a spread sheet and wack it up on the forum?

Watch this space in the next 2 weeks... acc will increase their stake with the oppie coversion.. who are the others? will be interesting

Sure thing Nita

[trackers]

Oh, and check this out!

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=LMP

See any familiar names in there?

[777]

Unfortuntaely the mail will be sent to my nz address. Any chance someone can put the details on a spread sheet and wack it up on the forum?

Watch this space in the next 2 weeks... acc will increase their stake with the oppie coversion.. who are the others? will be interesting

All on the NZO website Nita

http://www.nzog.net/

[airedale]

Oh, and check this out!

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=LMP

See any familiar names in there?

Well spotted Trackers, I was wondering....who is A.G. Loudon?

[Nitaa]

All on the NZO website Nita

http://www.nzog.net/fab... im another one who didnt check first b4 asking

[fish]

Did anyone see tv3 business news this morning ?-I just caught the ending and am not sure if someone said nzo were valued at over $3

[duncan macgregor]

Did anyone see tv3 business news this morning ?-I just caught the ending and am not sure if someone said nzo were valued at over $3 Who cares what value a third person values anything at. Value is in the eye of the beholder. I remember once renovating a house that had a painting on the wall with a value of hundreds of thousands of dollars. I wouldnt have paid five bob for the bloody thing. I value property with a material value, plus adding or subtracting other aspects that influence value, to come up with a realistic valuation.
In this case i would say material value might well be $3-00, but deduct a plunging market, financial uncertainty, and middle east turmoil, to name just a few of the uncertainties. A falling tide takes all ships down, Bears cant count,in bad times people like me batten the hatches down, stick up a storm sail, and throw out the sea anchor. If the value is $3-00 in material value, and the share price is what it is then the punters are either stupid, or running scared. If they are running scared you should be wary, the herd moves in mysterious ways. Macdunk

[zorba]

.

Now, now McDunk, no need to be mean spirited about NZO ......

Compared to rest of market, this year NZO's share price has been udderly sensational !!

McDunk, buy some NZOs while you still have a chance below $2.00, join the happy throng suxing on the teat of the black gold !!!

Check out the price of oil ..... what a bounce !!

http://futures.tradingcharts.com/intraday/CL_/88

.

[duncan macgregor]

.

Now, now McDunk, no need to be mean spirited about NZO ......

Compared to rest of market, this year NZO's share price has been udderly sensational !!

McDunk, buy some NZOs while you still have a chance below $2.00, join the happy throng suxing on the teat of the black gold !!!

Check out the price of oil ..... what a bounce !!

http://futures.tradingcharts.com/intraday/CL_/88

. ZORBA, The way the middle east is going there is every likelyhood that the price of oil reaching $300 a barrel. We only have one glimmer of hope and that is Bush will soon be gone. Hopefully the yanks will go home letting the world settle down into some stability.
I hope you are right its your money you invest with not mine.
If the price of oil goes up it will bankrupt most economies your money might be worth very little if that happens. If that happens the only thing worth having is material things that you can see. GOLD, SILVER, LAND, property, etc. The Macdunks of this world watch with an ever growing interest at your progress and gleefool response to the price of oil going up.
Goodluck with NZO hope you are right just remember bears cant count. Macdunk

[temptation]

Duncan,
Take down the storm sail when you throw out the sea anchor..

[Dr_Who]

Did anyone see tv3 business news this morning ?-I just caught the ending and am not sure if someone said nzo were valued at over $3

Stop having wet dreams.. LOL

Get the average of all the brokers valuation and you have you value for NZO.


ZORBA, We only have one glimmer of hope and that is Bush will soon be gone. Hopefully the yanks will go home letting the world settle down into some stability.


Dont be too optimistic. There is a likely chance McCain may get in. If he does, then all hell will break lose. McCain is a loose cannon, worst than Bush. Gold will be $2k and oil will be $400.

[Casa del Energia]

Who cares what value a third person values anything at. Value is in the eye of the beholder. I remember once renovating a house that had a painting on the wall with a value of hundreds of thousands of dollars. I wouldnt have paid five bob for the bloody thing. I value property with a material value, plus adding or subtracting other aspects that influence value, to come up with a realistic valuation.
In this case i would say material value might well be $3-00, but deduct a plunging market, financial uncertainty, and middle east turmoil, to name just a few of the uncertainties. A falling tide takes all ships down, Bears cant count,in bad times people like me batten the hatches down, stick up a storm sail, and throw out the sea anchor. If the value is $3-00 in material value, and the share price is what it is then the punters are either stupid, or running scared. If they are running scared you should be wary, the herd moves in mysterious ways. Macdunk


I feel the same frustration, as others appear to hold - well actually, I oscillate between at annoyance and pity. The NZX 50 is 20% undervalued - but it is the usual situation heading into the final phase of a downturn. And yes, it is annoying the NZO is even more grossly 'undervalued'. The NZ dollar is set to drop, Bollard (probably) wont raise interest rates - in short, NZ equities will rise to it's more normal 5% undervalued. Along with the general market sentiment - NZO will do the same. In the mean time - patience and assurance that the cycle will complete and hundreds of panic mongers will kick themselves over bailing out on a soggy market - either because they had to because they didn't pay attention to their risk profile or because of itchy trigger fingers.
Anyway - the art work comparison is fallacious. Oil and Oil paintings are two different things - Oil in itself is useless and has no human use value whereas an oil painting is an end product of the consumption of oil (or more broadly resource) to provide a consumable product for direct personal benefit. The painting is an end consumer product and is entirely subject to human perception of worth, the input consumables can have metrics applied to derive a costing.
(Addendum: putting gas in your tank to make you car go is does not make motor spirit a direct human benefit - the transportation of goods or persons is the benefit - therefore gasoline is an input to that benefit. Remember - you can't drink petrol - well, not for very long.)

[bermuda]

Stop having wet dreams.. LOL

Get the average of all the brokers valuation and you have you value for NZO.



Dont be too optimistic. There is a likely chance McCain may get in. If he does, then all hell will break lose. McCain is a loose cannon, worst than Bush. Gold will be $2k and oil will be $400.

McCain is a real party man. Given to singing the Beach Boys number

"Bomb,bomb,bomb,bomb Iran".

This could be one of the biggest disasters of all time.

Go home America and let Obama sort it out.

America, they just have to feed their war machine. It improves the economy

[upside_umop]

Did anyone see tv3 business news this morning ?-I just caught the ending and am not sure if someone said nzo were valued at over $3

I think he said NZO $2 soon and some brokerage houses have $3 on PRC. He emphasised PRC should not be related to thermal coal and that coking coal remains in hot hot demand.

[tim23]

Just watched it, above comment is correct, $2 NOG & $3 PRC, Warren Head from the Headliner.

As for the art on the wall v oil comment - gee Duncan you are clutching at straws now, its tragic.

[Nitaa]

I remember once renovating a house that had a painting on the wall with a value of hundreds of thousands of dollars. I wouldnt have paid five bob for the bloody thing. MacdunkWas it an OIL painting. You may find that valuation was done when oil was at $30 per barrel. If so i suggest you go right back and pay them the couple of thousand for it.

[zorba]

ZORBA, The way the middle east is going there is every likelyhood that the price of oil reaching $300 a barrel. We only have one glimmer of hope and that is Bush will soon be gone. Hopefully the yanks will go home letting the world settle down into some stability.
I hope you are right its your money you invest with not mine.
If the price of oil goes up it will bankrupt most economies your money might be worth very little if that happens. If that happens the only thing worth having is material things that you can see. GOLD, SILVER, LAND, property, etc. The Macdunks of this world watch with an ever growing interest at your progress and gleefool response to the price of oil going up.
Goodluck with NZO hope you are right just remember bears cant count. Macdunk

McDunk,

You are right in one sense, it could easily end up in huge catastrophic mess ......

If things get out of hand in the Gulf, and I think there is strong chance of that happening, then yes $300 oil price is possible followed by major world recession and collapse of oil price.

If this scenario looks like happening and the price of oil is north of $200, then I will be looking to get out of NZO and into bonds.

In the meantime I hope sanity prevails and that the world can get through the current financial mess, brought on by our illustrious American friends and their shonky banking systems, if we can get past this fraudulent banker/rating agency scam mess then I am hoping for calmer waters next year ......

IMOH current price of oil reflects genuine supply - demand pressures and not speculumation, current contango oil pricing is reflecting arrival of Peak Oil .... will the world oil industry be able to put in place new production to the extent of 4 to 5 new Saudi Arabias ove the next 10 years ??

I doubt it and the oil futures are responding to that unlikely scenario.

For more discussion on the need for 4 to 5 new Saudi Arabias, see my posts 32 and 33 on:

http://www.sharetrader.co.nz/showthread.php?t=6144&page=3

Z

[POSSUM THE CAT]

Zorba I believe inflation adjusted bonds are no longer available. And if oil gets above $200.00 per barrell in the short term you will inflation rates similar to Zimbabwe your bonds will be practically worthless or the bank or whatever that issued them no longer exists

[Drone]

McDunk,

You are right in one sense, it could easily end up in huge catastrophic mess ......

If things get out of hand in the Gulf, and I think there is strong chance of that happening, then yes $300 oil price is possible followed by major world recession and collapse of oil price.

If this scenario looks like happening and the price of oil is north of $200, then I will be looking to get out of NZO and into bonds.

In the meantime I hope sanity prevails and that the world can get through the current financial mess, brought on by our illustrious American friends and their shonky banking systems, if we can get past this fraudulent banker/rating agency scam mess then I am hoping for calmer waters next year ......

IMOH current price of oil reflects genuine supply - demand pressures and not speculumation, current contango oil pricing is reflecting arrival of Peak Oil .... will the world oil industry be able to put in place new production to the extent of 4 to 5 new Saudi Arabias ove the next 10 years ??

I doubt it and the oil futures are responding to that unlikely scenario.

For more discussion on the need for 4 to 5 new Saudi Arabias, see my posts 32 and 33 on:

http://www.sharetrader.co.nz/showthread.php?t=6144&page=3

Z

Zorba why if things got out of hand in the gulf would you get out of NZO? It would be the one thing worth owning in that scenario, (apart from defence stocks) asumming it could survive the general market carnage of course..

[foodee]

Zorba why if things got out of hand in the gulf would you get out of NZO? It would be the one thing worth owning in that scenario, (apart from defence stocks) asumming it could survive the general market carnage of course..

D
Care to share your ideas on these 'defence stocks'

cheers

[zorba]

Zorba why if things got out of hand in the gulf would you get out of NZO? It would be the one thing worth owning in that scenario, (apart from defence stocks) asumming it could survive the general market carnage of course..

Drone,

You make a good point ..... NZO would initially be a good bet should oil run up to $200 - $300 .....

But what happens after that, does the world head into a serious economic meltdown ?

If so will the demand for oil collapse, or at least fall way below current supply capability ?

If that happens oil price should also collapse or seriously reduce and take many oilers with it. Its all a huge landscape of uncertainty, and coking coal miners will also be hit, so no doubt NZO and PRC would both take some serious hits ......

So if oil is heading for $200 - $300, then maybe one should be starting to cash up and get out before a global meltdown.

Maybe since it seems that inflation adjusted bonds no longer available (see Possum's post above), maybe then best option as McDunk suggests is GOLD BARS !!

Alternatively if deep recession and monetary deflation is the outcome then just having the funds sitting in Kiwi Bonds earning interest may also be safe and useful, maybe along with a stash of gold bars for diversification.

Lots of "maybes", its all very unpredictable, where will it all end ....

If the Iranians keep on firing rockets and the Israeli keep up their war games, its going to be a serious bloody mess, and if the Strait of Hormuz gets blocked for any length of time then the global economy is stuffed, and no doubt huge numbers of pension funds and and individual savings will go down the dunny !!

Z

.

[duncan macgregor]

Zorba why if things got out of hand in the gulf would you get out of NZO? It would be the one thing worth owning in that scenario, (apart from defence stocks) asumming it could survive the general market carnage of course.. I think what most people dont understand is what actually happens when things get out of hand. During the second world war money in the bank was taken over as defence bonds in some instances never paid back. Other countries inflation takes over making your savings worthless. When things get out of hand as is looking more than likely, the idea is to move away from money, and into material assets that hold its value.
When i lived in Zimbabwe in the sixties the price of a beautifull big farm wouldnt buy you a hamburger today.
Luck would have it i moved on after shagging the mans daughter. When it all hits the fan keep right out of shares, money in the bank, bonds or whatever. Buy a block of land that will feed you and your family or some other material asset. keep away from paper money. Macdunk

[Drone]

D
Care to share your ideas on these 'defence stocks'

cheers

Heres a good starting point mate

http://finance.google.com/finance?catid=62652827

and yep that should have been defense ;-)

[Drone]

Drone,

You make a good point ..... NZO would initially be a good bet should oil run up to $200 - $300 .....

But what happens after that, does the world head into a serious economic meltdown ?

If so will the demand for oil collapse, or at least fall way below current supply capability ?

If that happens oil price should also collapse or seriously reduce and take many oilers with it. Its all a huge landscape of uncertainty, and coking coal miners will also be hit, so no doubt NZO and PRC would both take some serious hits ......

So if oil is heading for $200 - $300, then maybe one should be starting to cash up and get out before a global meltdown.

Maybe since it seems that inflation adjusted bonds no longer available (see Possum's post above), maybe then best option as McDunk suggests is GOLD BARS !!

Alternatively if deep recession and monetary deflation is the outcome then just having the funds sitting in Kiwi Bonds earning interest may also be safe and useful, maybe along with a stash of gold bars for diversification.

Lots of "maybes", its all very unpredictable, where will it all end ....

If the Iranians keep on firing rockets and the Israeli keep up their war games, its going to be a serious bloody mess, and if the Strait of Hormuz gets blocked for any length of time then the global economy is stuffed, and no doubt huge numbers of pension funds and and individual savings will go down the dunny !!

Z

.

Fair enough, its all about timing eh

This is a good website for noggers to keep up with the geopolitical developments in the gulf, which could be a primary driver of oil prices over the next year or so IMHO

http://www.globalsecurity.org/

Cheers and have a good wkend all.

[Lion]

and yep that should have been defense ;-)

Nope, you were right first time, it's defence, unless you're a yank (& not a good time to admit to that right now)

[Sideshow Bob]

More positive publicity...... :D

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10521132

NZ Oil & Gas finds black gold in a sea of red
5:00AM Saturday July 12, 2008
By Grant Bradley
Just over a year ago, New Zealand Oil & Gas barely had any analysts taking a regular interest, it hadn't paid a dividend for a decade and money was gushing out the door.

And then, unlike much of the rest of New Zealand business hammered by soaring commodity prices, the planets started lining up the other way.

Like Pike River Coal, in which it has a 31 per cent stake, it's a relatively simple proposition - commodity price booms flow straight to the bottom line. As seen by Pike River being close to production is good enough in redhot commodity markets so that what are normally regarded as speculative stocks are now easily outperforming traditionally defensive stocks.

When oil started flowing from the Tui oil field at the end of July the 27-year-old NZOG was transformed. With a 12.5 per cent stake in the field and it suddenly had revenue which has grown from original forecasts of $300 million for the life of the field to over $1 billion, given reserve upgrades and doubling of oil prices over the year.



It now has seven analysts following it, will this year pay a 5c dividend and has during the past 12 months seen its shares climb from 99c to as high as $1.91c. And in what is shaping as the biggest capital raising of the year NZOG has just raised $192.7 million through the take-up of options by its shareholders.

Just under 139 million options were on issue, 92.5 per cent of which were exercised giving it a market capitalisation of about $650 million and propelling it into the top 20 stocks.

The capital injection provides the company with big opportunities - and huge challenges.

As with the rest of the world, the easy oil and gas has been taken so the company is aggressively looking for new ventures. It is sticking to oil and gas and not interested in downstream business, such as electricity. It is not looking at any onshore Taranaki acreage which it has identified as high risk for low return, likewise is not involved in the Great South Basin and says the scale of opportunity may not be here in New Zealand.

This means the company is looking further afield and not necessarily in Australia.

Analysts are now awaiting the next move.

Hamilton Hindin Greene's Grant Williamson says the company is well positioned.

"You would hope they'd make the right decisions when they spend the money they've got in - that's probably the big question if they look at buying producing assets or oil in the ground - how much are they going to pay for it on the current oil price? That's my concern, (but) they've got some very experienced people."

McDouall Stuart's John Kidd says in a June 23 research note: "NZO will need to demonstrate purpose and balance in defining its forward strategy to justify investors' confidence."

He ascribes above average risk to the company and a target share price of $2.32. Other analysts' reports over June put the 12-month target from a low of $1.98 from ABN Amro to $2.48 from First NZ Capital.

The other shining star of the market has been Pike River Coal. Although it has retreated from its recent high of $2.45, the record contract prices of US$300 a tonne for its hard coking coal are attracting investors even though they have not yet hit the seam

The company is on target to sell 20,000 tonnes within the 2009 financial year.

Concern that international coal prices had over-reached themselves led to a sell-off of stocks in the sector last week but Kidd says the long-term demand, driven by China and India, is still strong.

Tunnellers are now boring into another potentially tricky part of the Paparoa Range, the Hawea fault, where badly fractured rock and the presence of methane could pose problems. Analysts over the past six weeks have put target prices of between $2.56 to $2.75.

As with NZOG, a fall in the value of the New Zealand dollar will help balance rising development and running costs.

Investors have flocked to oil and other commodities this year as a hedge against rising inflation and the weak greenback.

But the International Energy Agency forecast pressure on oil markets could ease next year as demand growth slows, cutting the need for crude from Opec.

[the machine]

expect momoho is drilling ahead now without any coring, so come Monday will start the wireline logging.

hopefully will be a status report on Monday

price of oil back up again overnight so nzo should see a good sp increase on Monday even without any news on momoho

M

[Chippie]

The following extract from the NZ Hearald article is interesting. Has NZOG announced this previously? I assume it is a statement from the company. How they invest the money will be possibly the most important decision and also the measure of its management.



"As with the rest of the world, the easy oil and gas has been taken so the company is aggressively looking for new ventures. It is sticking to oil and gas and not interested in downstream business, such as electricity. It is not looking at any onshore Taranaki acreage which it has identified as high risk for low return, likewise is not involved in the Great South Basin and says the scale of opportunity may not be here in New Zealand.

This means the company is looking further afield and not necessarily in Australia."

[LIO]

NZO gets positive coverage in another NZ Herald Business article today, "Searching for Diamonds in the Rubble" as one of the "TOP STOCK PICKS" at the conclusion of the article.
I'll have to leave you to seek it out, because I don't know how to post the link. ( I must be on the "wrong" side of thirty ! ).

[Jay]

Hopefully this may work

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10521129&pnum=5

Just tried it and it seems to!
And I'm on the wrong side of 30 too:)

[LIO]

Thanks Jay. I think it's past time I did a course with Senior Net.

[Drone]

More positive mentions in the SST on the weekend. Reasonable open today on back of $152 tapis I suppose.

Momoho progress report today?

[Chalice]

While bankers are crying into their Krug and sharemarkets sink at every turn, one group can smile amid the wreckage - oil investors.
For several years oil prices have performed strongly, but particularly in the past six months oil has soared as sharemarkets fell. Having oil in your investment portfolio would therefore ease the pain of the current bear market considerably.

So how do you get some oil exposure in the New Zealand market?

The most direct way is by mimicking the professionals and investing in oil futures, available through Auckland-based broker OM Financial.

Futures are not for the faint-hearted or the uninformed, requiring a disciplined approach and careful risk management, but they give investors a first-hand experience of the oil market and a way to make money when shares are not doing well.

OM Financial has hundreds of clients trading oil futures and a related security, futures options. The firm offers advice on whether to buy or sell and charges a fee per contract of about $25.

It works something like this. An oil futures contract is a bet on what the price of oil will be on a specified time in the future. Each contract is for 1000 barrels of oil and requires the investor to place an initial margin set by the exchange, currently $US12,000 ($15,800). At a price of $US136 per barrel of light sweet crude, that $US12,000 initial margin covers a position of $136,000.

If you bought a future at $US136, say, and the price moved to $US140 within the specified time (giving a contract value of $US140,000), you would sell a future with the same expiry to close the position and pocket $US4000, a return of 33% on your initial margin.

Similarly, if you sold a future at $US136 and the price moved to $US132, you would buy a matching contract to close the position and pocket $US4000.

Of course, those returns would be losses if the price moved against you.

OM Financial head of derivatives Kevin O'Sullivan says investors don't have to stay up all night watching the markets, but care is required.

"Obviously with the volatility you need a strong stomach for it," he said. "It comes down to your money management and discipline, your stop-loss, take-profit deals."

Although futures allow you to take a view on the price of crude out to 2016 (the market currently says $US137.50 a barrel), there are fewer people taking positions on those contracts (less "open interest" in the jargon), so O'Sullivan advises clients to trade contracts where there is plenty of open interest, which makes it easier to close positions.

A useful alternative to futures is the market in contracts for difference, or CFDs. The main provider of CFDs in New Zealand is Auckland-based CMC Markets. It offers a contract, based on market- traded futures, of 100 barrels of crude - West Texas and Brent are the main contracts used - and a 1% initial margin. At $US136, that means the contract is worth $US13,600 and requires margin of $US136 - a less capital intensive way for small investors to play the market. CMC's offer differs from OM Financial futures in another way - it has no expiry so does not require closing out within a particular timeframe. But the buy/sell process is similar.

CMC Markets general manager Sargon Elias said crude oil CFDs had risen in popularity as the commodity had surged in price. "Since the drive in oil six to eight months ago it has often been in our top five traded instruments," he said. "There is a lot of interest. That whole debate about whether oil is driven up by speculators is quite close to our hearts. I still believe a lot of it is driven by fundamentals."

While CFDs offer a cheaper alternative to futures and can be traded online in real time, CMC offers no advice on what positions to take.

Aside from the futures and CFD markets, another way to gain exposure to crude prices is to trade shares in oil production companies. Two such investments currently on the radar for sharebroker First NZ Capital are New Zealand-listed NZ Oil & Gas and Australian-listed Oil Search, Papua New Guinea's largest oil and gas producer.

First NZ head of research Barry Lindsay said the firm's view was oil would fall from its current peak, "but will be sustained at a high price above $US100 for some time to come".

Firms such as NZ Oil & Gas and Oil Search were clear beneficiaries of high oil prices, he said.

No doubt that takes some of the pain away from filling up at the bowser

[Casa del Energia]

Wotsup? Sp is going gangbusters. Is there an announcement imminent?

[Xerof]

http://www.energybulletin.net/node/45872

From Friday's Fast Money program - click on the headliner item to get to the article and Youtube replay

Casa - not a response to your question, just a contribution to the cause

[Casa del Energia]

http://www.energybulletin.net/node/45872

From Friday's Fast Money program - click on the headliner item to get to the article and Youtube replay

Casa - not a response to your question, just a contribution to the cause

Had me puzzeled for a 'mo :)

[Drone]

Wotsup? Sp is going gangbusters. Is there an announcement imminent?

My guess is that supply from people who leveraged to convert options and then sold down to reduce leverage is trailing off, but probably more importantly the next week will see very interesting announcements on the momoho drill, and people will want to be on board for that one.

[Casa del Energia]

My guess is that supply from people who leveraged to convert options and then sold down to reduce leverage is trailing off, but probably more importantly the next week will see very interesting announcements on the momoho drill, and people will want to be on board for that one.

Yeah, you're probably on the mark. (And the sp seems to have gone off the boil a little as well).

[trackers]

My guess is that supply from people who leveraged to convert options and then sold down to reduce leverage is trailing off, but probably more importantly the next week will see very interesting announcements on the momoho drill, and people will want to be on board for that one.

Yup thats how I see it too... In addition, tapis price is holding up well, and financials (which are going to be spectacular) are imminent. Oh and while we're at it, PRC is closing in on the finish line too.

[Casa del Energia]

Yup thats how I see it too... In addition, tapis price is holding up well, and financials (which are going to be spectacular) are imminent. Oh and while we're at it, PRC is closing in on the finish line too.

Yes, end of year coming up. Any picks for a dividend - here's my neck going out; I select a more conservative dividend cover and run 10c up the flag pole.

(Stand back, and wait for acerbic comments about my credibility and general financial nous)

[manxman]

The dividend for the year was declared and paid yonks ago. So my pick is 5 cents. Lots of shareholders would prefer that they used their (our) cash for getting into good exploration and development projects.

The only problem is the ability to use the imputation credits arising from the royalties.

Don't give the cash back to me. Last time I spent quite a bit of it on booze and women, then squandered the rest.

[bermuda]

http://www.energybulletin.net/node/45872

From Friday's Fast Money program - click on the headliner item to get to the article and Youtube replay

Casa - not a response to your question, just a contribution to the cause

Xerof,
Well done for making this post.

It is time for everyone to wake up. I hope Skol takes the time to listen to it.

PS NZO goes a lot higher.

[bermuda]

The dividend for the year was declared and paid yonks ago. So my pick is 5 cents. Lots of shareholders would prefer that they used their (our) cash for getting into good exploration and development projects.

The only problem is the ability to use the imputation credits arising from the royalties.

Don't give the cash back to me. Last time I spent quite a bit of it on booze and women, then squandered the rest.

That's a George Best quote. lol

[Nitaa]

Wasnt that a special dividend? I am quite certain another healthy dividend (for all you dividend hungry people) will be paid later this year. Also a possibility of a share buy back but not for the sake of it.

[tim23]

A interim dividend but the only one to be paid in this fy, so we will have to wait another 12 onths for next dividend .I think they have stated there will be an annual pay out if there is to be a dividend in respect of that fy.

[fish]

The dividend for the year was declared and paid yonks ago. So my pick is 5 cents. Lots of shareholders would prefer that they used their (our) cash for getting into good exploration and development projects.

The only problem is the ability to use the imputation credits arising from the royalties.

Don't give the cash back to me. Last time I spent quite a bit of it on booze and women, then squandered the rest.

Manxman

Are you sure imputation credits arise from royalties ?

[Corporate]

http://www.energybulletin.net/node/45872

From Friday's Fast Money program - click on the headliner item to get to the article and Youtube replay

Casa - not a response to your question, just a contribution to the cause


Xerof - I can't work out which article in particular you are talking about?

[Ripping]

Xerof - I can't work out which article in particular you are talking about?

The referring headline on that page is:

Peak Oil Media: Matt Simmons gets more pessimistic on CNBC, Heinberg, and others...
The Oil Drum

[Mr Tommy]

From 10 July report - Over the coming week, the rig is expected to complete running and cementing the 9-5/8 inch casing, drill the 8-1/2 inch section and acquire wire-line
logs over the primary reservoir target (Farewell Formation).

Shouldnt we be on daily reporting by now, with a sniff of gas already announced, and about to drill thru the target zone ?

[the machine]

From 10 July report - Over the coming week, the rig is expected to complete running and cementing the 9-5/8 inch casing, drill the 8-1/2 inch section and acquire wire-line
logs over the primary reservoir target (Farewell Formation).

Shouldnt we be on daily reporting by now, with a sniff of gas already announced, and about to drill thru the target zone ?


expect they have already drilled through the target zone as previous report based on 1400 nz time july 9 - 5 days and 8 hours ago.

no news is good news!

expect nzo would be keen to keep the market fully informed on a daily basis, but as origin control when information is released then nzo have to tow the line.
drilling reports for kupe being fine examples of origin's reporting.

M

[Corporate]

"Production since 1 July 2008
Up to 13 July: Approx 400,000 barrels. NZOG's share of production approx 50,000 barrels.
NB:
"
I wonder if this includes the 13th? None the less, I've been keeping track of production on my NZO spreadsheet and it looks like production is back on track

Barrels since BD 150000 210000 400,000
July 6 8 13
Daily Av 25000 26250 30769.23077


They probably stopped work and had a mighty piss up on the night of the 30th of June to celebrate, then no one was available to pump oil for the next day or so :D

[Anubis]

The late big move up today looks to me clearly to be in anticipation of positive Momoho news being imminent (maybe tomorrow?). I initially thought it was being at least partly driven by Friday night's rise in oil price, but this seems less likely having looked at the Aussie oilers, which were all either down or flat today.

[Anubis]

The chart has also now well and truly done a technical bounce off support at $1.67-68, which was the previous (pre-option exercise) resistance level. Just an observation of a classic recurring pattern in TA - resistance becoming support...

[Oiler]

expect they have already drilled through the target zone as previous report based on 1400 nz time july 9 - 5 days and 8 hours ago.

no news is good news!

expect nzo would be keen to keep the market fully informed on a daily basis, but as origin control when information is released then nzo have to tow the line.
drilling reports for kupe being fine examples of origin's reporting.

M

I agree with you Machine.....no news is good news in this case and origin do have control of the drilling news updates.

Today should be the day everyone has been waiting for :D:D

Oiler

[Drone]

OK what are people's picks for SP +ve and -ve movements depending on the news?

Just pulling a figure out of the air if there was say 5mb of condensate (or equiv) @ a net recovered price of say $100/b USD say $132 NZD is approx $100m to NZO, now discount that back and take off a bit for project risks etc and I'd say you'd have about 15c per share. So if there was probable reserves of 15mb equiv.... it would be a good day.

Downside? If it comes in dry I'd say 10-15c also, but recovered over time, the stock is cheap even with existing projects/cashflows IMHO.

Cheers

[manxman]

Manxman

Are you sure imputation credits arise from royalties ?

I'm not an expert, but the divvy we got carried imputation credits and I didn't think that NZO had paid income tax at that point.

Bermuda - you are right, it was George Best, shortly before his (transplanted) liver sought refugee status. Thanks for reminding me.

Mx

[Xerof]

Mx, they had c/f losses to utilise, and did so before the cash machine began printing money :p:p

[trackers]

Stock of the week - New Zealand Oil and Gas (NZO)


Company: New Zealand Oil & Gas
Code: NZO
Recommendation: Buy
Market Cap: $515m

The last few weeks have seen oil continue to break new highs above the $140/bl mark. Record high oil priceshave been blamed for the market’s slide to new lows, however they are proving a boom for up and coming oil producers such as New Zealand Oil and Gas (NZO).

The cash has started flowing through the doors following the start of production at the Tui Oil fields off the coast of New Zealand in July last year. The Tui oil fields project is the first stand-alone offshore oil development in New Zealand, and was fast-tracked into production only 4 years after its initial discovery. NZO has a 12.5% stake in the field which has thus far been producing well ahead of expectations. The field was originally estimated to contain reserves of 27million barrels, however the latest reassessment has upgraded the figure to over 50million. The higher than expected field size has been accompanied by stronger than expected production rates. Tui was originally forecast to produce 10m barrels in its first year, however by mid June 13.9m barrels had been filled.

For the six months to December these strong production numbers allowed the company to produce a net profit of $41.4m on the back of $95.5m in revenue. Tui revenues had advanced to $141.8m by the end of March, and with oil continuing to trade near record levels, we expect a ‘bumper’ full year earnings result.

In the oil game you’re only as good as your last discovery, because once an oil field is tapped, production typically declines as time progresses. NZO has factored in a sharp decline in production from Tui in 2009 followed by a gradual easing, but thus far, month on month production has shown no signs of decline.

However, in preparation, the company is advancing its solid pipeline of development assets such as the Kupe project. NZO originally discovered this gas and condensate field in 1986, however development was considered uneconomic until recently. New Zealand in the past has attained its gas supply from the rival Maui field, which brought large volumes and a relatively low, contract based domestic pricing regime. The potential for Kupe was recently invigorated as the Maui field entered into its decline, with the investment decision made in mid 2006.

NZO now has a 15% interest in the project, which is on track to begin production in mid 2009. The company’s share of 2P Reserves stands at 38PJ gas, 165 000 tonnes of LPG, and 2.2million barrels of light oil. In oil equivalent terms, production is forecast to offset the decline of Tui.

NZO's other significant asset is its 31% stake in ASX listed Pike River Coal (ASX code: PRC). Pike River is an emerging producer of high quality hard coking coal in New Zealand. First shipments are expected to commence in the first quarter of 2009, and the company recently locked in a record price of US$300/t for deliveries made up until the end of March 2009. Deliveries during FY09 are expected to total 200,000 tonnes, ramping up to 1m tonnes in 2010. At Pike River’s recent share price of $1.70, NZO’s shareholding is valued at just over $100m.

Strengthening the balance sheet even further in recent weeks has been a highly successful option conversion. The company had 139m options expiring at the end of June at a strike of $1.50. Despite the exercise price being a slight premium to the share price range of $1.20-$1.40 over recent months, shareholder support was very strong, with 92.5% of the options exercised to raise $150m – a significant capital injection indeed.

Given this strong cash position and asset backing, we favour the outlook for the stock and rate it a buy. From a technical perspective the share price appears bullish, teetering near record highs. A correction in the oil price is a key risk, as are production problems at Tui or Kupe. However, should the price of ‘black gold’ remain any where near current levels, we expect the stock to be re-rated. This will be as a result of its earnings capacity from Tui, developmental milestones at Kupe, and a ramp up in production at Pike River Coal.

Tim Morris is an analyst at wise-owl.com (http://www.wise-owl.com/entry.asp?component_id=372), one of Australia's leading independent stockmarket research houses.



http://www.compareshares.com.au/wise62.php

[Bob C]

When was the article published Trackers? $1.70 for PRC is a bit out of date...

The market cap is closer to $700m than the $515m they quote.

Or are those AU$?

Bob C

[tim23]

It refers to PRC as ASX listed so its $A I assume, the researcher is Australia based too.

[clips]

thanks to Digger, and my dart landing on 178,
i am in receipt of a liquor voucher which is burning a hole in my pocket -
open to suggestions , have in mind a bottle or two of Montana Camshorn Pinot Noir,
to put away to celebrate the next Nzo success, and perhaps a bottle of Glenfiddick
12yr old single malt to calm the nerves until then.... (surely duncan will approve)

thanks again Digger..... good bloke that bloke......

[the machine]

still nothing on momoho, 6 days and 10.5 hours since 1400 nz time on 9th.

still expect no news is good news, even though both org & nzo a bit lower today on asx.

M

[Rabbi]

still nothing on momoho, 6 days and 10.5 hours since 1400 nz time on 9th.

still expect no news is good news, even though both org & nzo a bit lower today on asx.

M

I imagine that if Origin are giving the Press release, they will give a comprehensive detailed report. The cost of having rigs on site suggests to me that they would have reported and returned the rig if the reservoir gas was not commercial.:D

[da puntzda]

Morning all

Although headline price of oil down I see Tapis up acouple of dollars to $154.02. Is this the price NZO and PPP always get?

http://www.upstreamonline.com/market_data/?id=markets_oil

[BigBob]

Morning all

Although headline price of oil down I see Tapis up acouple of dollars to $154.02. Is this the price NZO and PPP always get?

http://www.upstreamonline.com/market_data/?id=markets_oil

It's because Tapis hasn't traded since yesterday, so no update to the price... It'll be down accordingly later today....

TUI oil is "benchmarked" against Tapis...

BB

[duncan macgregor]

NZO down 5% so far this morning only goes to show that a falling tide takes all ships down regardless of fundamentals. All that cash rolling in still makes no difference when the herd makes a dash for the door. If the market crashes this will turn into one of the better road kills to pick up at bargain prices. PRC down 3.8% might be worth a punt in a few months time. Macdunk

[Crypto Crude]

Mackdunk,
last night Oil had its biggest one day Dollar term fall in 17 years...
NZO's fall was not to be totally unexpected...


a falling tide takes all ships down regardless of fundamentals.


NZO fell today on fundamentals mate, NZO has been blanketed by much of the market risk to date... many other oilers have also....
invest in the right sector, and in a Stable falling market you wont lose...
Id say DOW falling 100 points in a day is stable...
500pt fall is different...
:cool:
.^sc

[Crypto Crude]

stable falling markets are most welcome... its better than the alternative which is a market crash...
Only use the words 'Market Crash' when we have one...
Theres no need to needlessly spread fear...
thanks mackdunk...
;)
.^sc

[Nitaa]

NZO down 5% so far this morning only goes to show that a falling tide takes all ships down regardless of fundamentals. All that cash rolling in still makes no difference when the herd makes a dash for the door. If the market crashes this will turn into one of the better road kills to pick up at bargain prices. PRC down 3.8% might be worth a punt in a few months time. MacdunkOil down approx 5% and nzd is up. Fundamentally this has affected nzo at least on a daily basis. Not to forget that smallish volume chucked the sp down over 10 cps this morning.

nzo is now a producer so any direct changes in oil peices will have a direct effect to its revenue. However anything over $100 per barrel and nzo is smiling all the way to the bank. Oil will be voaltile for a long time to come. Just the other day oil rose $9. If you are day trader better to stay out otherwise you will be catching falling knives everytime the market opens.

MD. Where are you putting your money.. In housing the general market is falling, into fund managers? they are getting beaten up. Try nzo. I told you earleir this year to buy when the sp was nearly at $1.00 Look at what you have missed out. Invest where you are most likely to get a positive return. You can forget the banks as inflation will eat away any interest you make.

Good luck big guy

[Crypto Crude]

nita,
mackdunks been getting right in behind his favourie pumping little oiler...
He's been buying up on APX, austral pacific...he went one step further and tipped it off in the NZX stock picking competition this year as a screamer...
:D
.^sc

[Lion]

Only use the words 'Market Crash' when we have one...
.^sc

Yeah, I heard some "expert" on the radio yesterday talking about us having a "slow motion crash"

What a wally

[ericlin10]

nita,
mackdunks been getting right in behind his favourie pumping little oiler...
He's been buying up on APX, austral pacific...he went one step further and tipped it off in the NZX stock picking competition this year as a screamer...
:D
.^sc

is it too late if I want buy APX now

[Rabbi]

is it too late if I want buy APX now

The stock that went from $4.60 in 2004 now languishes at 75c due to bad management, bad luck, a horrific hedging deal at $65 a barrel, and debt up to their eyeballs. They had to sell all their assets in Papua New guinea to keep their head above water. This Co. will be running very fast to stay in the same place for a while yet. I should know, I bought a pile at over $4.00 a share in 2004, when they looked poised for stardom.
Then the wheels fell off, and there's a fair way to go before they get them back on again and are back on track.

[Chippie]

I imagine that if Origin are giving the Press release, they will give a comprehensive detailed report. The cost of having rigs on site suggests to me that they would have reported and returned the rig if the reservoir gas was not commercial.:D

I hope you folks are correct and that no news is good news. Can anyone add any logic to why no news is good (I am hanging out for news)

[sideline]

I hope you folks are correct and that no news is good news. Can anyone add any logic to why no news is good (I am hanging out for news)

So far all the drilling progress reports have been on Thursday in a weekly pattern - why should this
week be different? Granted they should be drilling through the good stuff, but they will need to evaluate
what they found in any case and that will take time.

[duncan macgregor]

The shares went up by 15% today on about $12000 traded. its a penny dreadfull that i took for the competition with the hope of a strike. i also had PPP and NZO. I wonder if SHREWDY spent $12000 bucks today boosting the price. Macdunk

[Crypto Crude]

I apologise for bringing up APX...
I want nothing to do with "knick knack paddy wack, give the dog a bone",stock... Lets get back to NZO, Its Still the most undervalued NZX stock, and thats with the biggest one day drop of oil prices in 17 years...
sometimes my sense of humor gets the better of me...
mackdunk knows im just stirring...
I would, and do expect nothing less from him...
haha.. later... see you around you big cat....
:cool:
.^sc

[duncan macgregor]

NZO dropped 4.5% yesterday. PPP dropped 3% yesterday. Last night the price of oil dropped again which should send the markets up today. With normal fundamental thinking the NZO share price should follow the price of oil rather than the markets, and drop slightly.
This will be a rather interesting day to see if market perception or company fundamentals comes out on top. I expect the markets to bounce up today taking the NZO share price with it. Market perception even if it goes against company fundamentals will always dictate the trend. Macdunk

[trackers]

NZO dropped 4.5% yesterday. PPP dropped 3% yesterday. Last night the price of oil dropped again which should send the markets up today. With normal fundamental thinking the NZO share price should follow the price of oil rather than the markets, and drop slightly.
This will be a rather interesting day to see if market perception or company fundamentals comes out on top. I expect the markets to bounce up today taking the NZO share price with it. Market perception even if it goes against company fundamentals will always dictate the trend. Macdunk

Lets not forget the Momoho drilling report either!

[sweaa277]

Hi Guys,
first time obviously that I have posted on here, but have been reading for a few months now with interest..
Was just wondering, NZO sells its oil on the Tapis standard does it not?
This is still over $140 as far as I can tell, and it will probably drop a bit this morning, but it is still higher than it was 4 weeks ago, and NZO must still be creaming it.
A little bit of consolidation in the oil price MUST be a good thing anyways, sure NZO would love to sell it at the highest price possible, but if it gets too high then the rest of the market crashes, bringing NZO down with it..
When will the market realise how much money NZO is making right now?? When the quarterly report is announced, when the annual report is announced??
Cheers for the blog guys it makes great reading..

[AMR]

Does the latest Momoho report indicate an uneconomical gas find?

[777]

Hi Guys,
first time obviously that I have posted on here, but have been reading for a few months now with interest..
Was just wondering, NZO sells its oil on the Tapis standard does it not?
This is still over $140 as far as I can tell, and it will probably drop a bit this morning, but it is still higher than it was 4 weeks ago, and NZO must still be creaming it.
A little bit of consolidation in the oil price MUST be a good thing anyways, sure NZO would love to sell it at the highest price possible, but if it gets too high then the rest of the market crashes, bringing NZO down with it..
When will the market realise how much money NZO is making right now?? When the quarterly report is announced, when the annual report is announced??
Cheers for the blog guys it makes great reading..

Expect the quarterly report about the end of July and the annual report about the end of August. Last year it was released on 29/8/07.

[Dr_Who]

Lets not forget the Momoho drilling report either!

When is Momoho report out?

Anyone factored into the numbers how much the sp will fall if Momoho comes out dry?

[blockhead]

Does the latest Momoho report indicate an uneconomical gas find?

Blockheads laymans diagnosis of the announcement says "we have found some gas which might be economical but of greater interest is the significance this may have for nearby gas,fluid accumulation"

In other words its a positive find.

Who concurs with these thoughts ?

[Drone]

When is Momoho report out?

Anyone factored into the numbers how much the sp will fall if Momoho comes out dry?

Its out, and I'm not an expert but I dont think its good.

NZO
17/07/2008
MINE

REL: 0957 HRS New Zealand Oil and Gas Limited

MINE: NZO: Momoho Exploration Well Disclosure Notice

New Zealand Oil & Gas Ltd (NZOG) advises that the Momoho 1 exploration well
has discovered a small gas condensate pool within thin, good quality
sandstones of the Palaeocene Farewell Formation, the third indication of
hydrocarbons along this structural trend.

Previously reported good gas indications recorded from the top of the primary
reservoir, the Farewell Formation (2896 metres measured depth from rotary
table (MDRT)), have now been confirmed by wireline logging and pressure and
fluid sampling.

Preliminary Interpretation indicates that the well has intersected a gross
gas condensate column over the interval 2896 to 2921 metres MDRT. The
accumulation is located on the crest of the Momoho anticline, on the
southwestern side of a central fault.

Given the presence of gas condensate at Momoho 1, gas nearby at Kupe South 4
(2.5 kilometres to the northeast) and oil at Kupe South 5 (1.2 kilometres to
the south), potential remains for hydrocarbons to be trapped within a large
closure on the northeastern, downthrown side of this fault. Evaluation of
this portion of the Momoho anticline will be considered at a future date by
the Joint Venture once the full implications of Momoho 1 have been
considered. Further studies will be undertaken to determine whether it may be
possible to contemplate a development combining these existing and potential
hydrocarbon accumulations.

Momoho 1 reached a total depth of 3145 metres MDRT on 14 July and upon
completion of the current evaluation programme, will be plugged and
abandoned. It is expected the rig will be released early next week, subject
to a suitable weather window.

Momoho is 6 kms southeast of the Kupe central field, off the coast of South
Taranaki. Drilling began on 13 June 2008 and progress is summarised as
follows:
Well section: 36inch 22inch 17inch 12 1/4inch
8-1/2inch
Planned Depth: 170.5m 550m 1,830m 2,855m 3,142.5m
Actual Depth*: 180m 561m 1,845m 2,898m 3,145m
*Depths are cumulative and show total well depth measured below the rotary
table (MDRT).

ENDS.

Partners in the Kupe permit PML38146 are:
Origin Energy Limited (through its subsidiary Origin
Energy Resources (Kupe) Limited)
50% (Operator)
Genesis Energy (through wholly owned subsidiaries)
31%
New Zealand Oil & Gas Limited (through wholly owned subsidiaries)
15%
Mitsui E&P Australia Pty Ltd
4%

[bermuda]

Does the latest Momoho report indicate an uneconomical gas find?

Good question. They confirmed good gas shows and the potential for something even bigger . It is up for evaluation.

Oiler, what is your view?

[trackers]

Blockheads laymans diagnosis of the announcement says "we have found some gas which might be economical but of greater interest is the significance this may have for nearby gas,fluid accumulation"

In other words its a positive find.

Who concurs with these thoughts ?

Thats my thoughts too.... Not surprised to see the sp down a couple, but if anyone looks at the depth they'll see about 70,000 shares for sale between 1.67 and 1.80.... Miniscule amount really

[Chalice]

Blockheads laymans diagnosis of the announcement says "we have found some gas which might be economical but of greater interest is the significance this may have for nearby gas,fluid accumulation"

In other words its a positive find.

Who concurs with these thoughts ?

Yep + I presume gas condensate is more valuable than gas? I like the sound of the "large" part of "for hydrocarbons to be trapped within a large closure on the northeastern, downthrown side of this fault.

I would imagine it will take a while for all the analysis to be completed.

[Anubis]

It sounds to me like it's "interesting" but not what they originally expected/hoped for.

[Drone]

Thats my thoughts too.... Not surprised to see the sp down a couple, but if anyone looks at the depth they'll see about 70,000 shares for sale between 1.67 and 1.80.... Miniscule amount really

Short term though, I don't think this is what the market was looking/hoping for. That combined with price drops for crude will see this sold down, until the quarterly report comes out in next week or two whch will spark a rally IMHO.

[Anubis]

Reading this again - they have clearly decided not to incur the cost of holding the rig at this stage to drill the other side of the fault - they are releasing it instead. This signals that they aren't confident enough in the current results to risk the additional drilling investment.

[Casa del Energia]

A 'positive' is that the gas/condensate is at the top of an anticline, also it is in 'good quality' sandstone (assume good porosity). Unless there are more isolating faults between the M1 & the other shows - could be ok. Have to wait for full analysis I guess.

[blockhead]

Reading this again - they have clearly decided not to incur the cost of holding the rig at this stage to drill the other side of the fault - they are releasing it instead. This signals that they aren't confident enough in the current results to risk the additional drilling investment.

Or it might signal it takes a fair while to analyse the results and then make a decision based on research rather than luck.
Now NZO stands on its own feet, no options hanging around and no drilling going on, we get true value now imho

[neopole]

IMO, i think that this is good news, as it seems that where ever they drill in that area, they are getting small but positive readings. so the stuff is definately there, but spead out. they just need to find the best place to suck it out from.
as for the share price falling to a drop in poo...... i would of thought that a return to a more stable price would be good news as it makes for a more stable global energy using economies.
as it is..... NZO is way under valued for the relative price in oil now!
so a price drop is only putting shares into the big boys pockets.
i guess this is how the rich get richer.........

[bermuda]

Reading this again - they have clearly decided not to incur the cost of holding the rig at this stage to drill the other side of the fault - they are releasing it instead. This signals that they aren't confident enough in the current results to risk the additional drilling investment.

Anubis,
I think you will find that this rig has been booked by others. Additionally, a huge amount of analysis is required before any further drilling could be done.

[the machine]

as driilled in the crest then unlikely to find oil as the gas [condensate rich gas]has filled the void - oil will be lower down the structure.

the crest may not be the thickest part of the structure either.

thought they were drilling both sides of the fault though and disappointed they are not drilling otherside now.

remember this discovery falls into the "lower royality discovery time frame" so in effect the tax man helps pay for any development through lower royalities.

M

[Anubis]

Anubis,
I think you will find that this rig has been booked by others. Additionally, a huge amount of analysis is required before any further drilling could be done.

I agree that it is the most prudent thing to do the analysis first. My comment was based on my understanding of the original (pre-drill) intent - that they were going to hold the rig for a total of 51 days in order to drill both sides of the fault. I assume they would have continued to drill the other side now if the results in the primary target had been significantly more positive.

[Casa del Energia]

IMO, i think that this is good news, as it seems that where ever they drill in that area, they are getting small but positive readings. so the stuff is definately there, but spead out. they just need to find the best place to suck it out from.
as for the share price falling to a drop in poo...... i would of thought that a return to a more stable price would be good news as it makes for a more stable global energy using economies.
as it is..... NZO is way under valued for the relative price in oil now!
so a price drop is only putting shares into the big boys pockets.
i guess this is how the rich get richer.........

And falling oil price may hit the sp but considering the broad hints that NZO is actively looking at acquiring existing production/reserves - it will surely help to make for more 'favourable terms'. Also - falling oil will take competition pressure off obtaining a rig should the number crunching come out ok for Mohomo - but then - at the present time there is no hurry - Kupe will supply a very adequate revenue stream for more than a decade.
No hurry to even bring the remaining reserve well on Tui in.

[Bilo]

These results from Momoho all seem very positive to me. When Tui started we were talking hydrocarbon columns of 12m and here we have 24m in what have been found to be productive reservoir formations. With the accumulations adjacent north and south which we understood to be marginally commercial given the POO and existing Kupe infrastructure, finding 24m of condensate and gas in by far the largest of the three mapped areas must in all probability, tip the balance.
If I knew I had a “probable” development (and an associated further drilling program) with what I already knew then it makes sense to develop and cost a conceptual development before further drilling - as they are already doing – stepping out from Kupe. The Harriet JV off Western Australia (Apache and Tap Oil) has been very successful with this incremental approach to profitably develop what seem like smaller accumulations of hydrocarbons. Much better than elephant hunting for a company the size of NZO, IMO.
The potential in the “large” anticline to the north – closer to Kupe - is perhaps in the too exciting to contemplate category and dismissed for share valuation purposes, until further information. Finding more gas and condensate has to be very positive for future exploration in the area and will confirm interpretation of geology from existing 3D seismic data. AWE would have given plenty for a discovery like this last summer. :)
Lets face it seeing the fantastic side of anything to do with investing in NZ at the moment is very difficult. And NZO is....:D

[zacman]

When I first read the report I was left with a feeling of lots of "maybes". Having now reread it I believe it is very good. They have identified a 25m column of gas condensate on the SW side of the fault. There maybe more on the NE side but surely that column by itself is significant.

zacman

[Bilo]

Anubis,
I think you will find that this rig has been booked by others. Additionally, a huge amount of analysis is required before any further drilling could be done.

I think not by just any "others" but by DS's old mates at OMV to drill production wells at Maari to get another 50Mbo flowing. Not very far away and a favour done now must be all good for healthy cooperation next time.:)

[peterfindlay]

Bilo, you have hit the nail on the head. It is the development of the 3 discoveries - KS4, KS5, & Momoho 1 - that now is more likely given what has been found in Momoho 1.

Today's ASX release by Origin is headed up "PML 38146 Exploration Well Momoho 1 - third small discovery along structural trend (Offshore Taranaki Basin, New Zealand). I have highlighted the most relevant part.

So, it appears that as the condensate column of up to 25m is considered small, it is confirmed as condensate (i.e. high value given the product content of condensate), but is likely to be of a lower magnitude than the JV expected to find. However, it certainly is not a dry well. So perhaps the negative market reaction to the media release and the lower oil price is overstated.

As the "smell" of a larger pool of hydrocarbons has been detected, the JV is on the right track as it now has further reason to follow the "scent". The prospectivity of the formation has again been validated, and the development potential reaffirmed. The economics of developing the 3 known discoveries (as opposed to two) ought to have improved, and given the structural trend, further potential hydrocarbon accumulations await discovery.

[blockhead]

And we don't have to shudder and wait for a cash issue to fund further drilling, there is enough loose change lying around to do the job.

[Bob C]

By Jonathan Underhill
Thursday 17th July 2008

Shares of New Zealand Oil & Gas (NZOG) declined after the company said the Momoho-1 exploration well didn't yield commercial quantities of hydrocarbons.

The stock fell 2.3% to NZ$1.67 on the NZX. It has soared almost 50% this year while the NZX 50 Index slumped 25%. The well, which will be plugged and abandoned, was being closely watched because it is about five kilometers south of Kupe, the nation's largest undeveloped field.

"We would've hoped Momoho was large enough to be standalone," said company spokesman Chris Roberts. Taken together with two nearby wells, there "remains potential that the small accumulations taken together could amount to something worth developing," he said.

NZOG's shares have surged this year, tracking the rising price of crude, as oil flowed from its 12.5% owned Tui oilfield and investors flocked to take up options to buy shares at less than their market price. The stock reached a record NZ$1.86 on July 1.

Crude oil was recently quoted at US$134.60 a barrel and has retreated from the record US$147.27 reached June 11.

Roberts said it is too soon to predict when further exploration may take place.

Australia's Origin Energy owns 50% of the Kupe permit PML38146, with Genesis Energy owning 31% and NZOG 15%. Mitsui E&P Australia owns 4%.

www.businesswire.co.nz

[Chalice]

By Jonathan Underhill
Thursday 17th July 2008

Shares of New Zealand Oil & Gas (NZOG) declined after the company said the Momoho-1 exploration well didn't yield commercial quantities of hydrocarbons.

The stock fell 2.3% to NZ$1.67 on the NZX. It has soared almost 50% this year while the NZX 50 Index slumped 25%. The well, which will be plugged and abandoned, was being closely watched because it is about five kilometers south of Kupe, the nation's largest undeveloped field.

"We would've hoped Momoho was large enough to be standalone," said company spokesman Chris Roberts. Taken together with two nearby wells, there "remains potential that the small accumulations taken together could amount to something worth developing," he said.

NZOG's shares have surged this year, tracking the rising price of crude, as oil flowed from its 12.5% owned Tui oilfield and investors flocked to take up options to buy shares at less than their market price. The stock reached a record NZ$1.86 on July 1.

Crude oil was recently quoted at US$134.60 a barrel and has retreated from the record US$147.27 reached June 11.

Roberts said it is too soon to predict when further exploration may take place.

Australia's Origin Energy owns 50% of the Kupe permit PML38146, with Genesis Energy owning 31% and NZOG 15%. Mitsui E&P Australia owns 4%.

www.businesswire.co.nz

Why can't NZO/Chris Roberts put forward announcements in laymans terms i.e. Momoho-1 exploration well didn't yield commercial quantities - such as above - in NZX/ASX announcements? I'm not sure - are NZO holders (65%+ non institution) expected to be experts in analysing technical data/jargon or have consultants who can/do?

Chris, have a look at the last few pages and see the confusion the announcment caused.

Do you agree there needs to be a change in policy to ensure a level playing field for everyone...?

Not all doom and gloom, atleast it wasn't dry + the fundamentals should drive the SP up to analysts valuations before long, but a more pragmatic approach to announcements would be appreciated.

[Chalice]

Chalice Their Is No Confusion-- Chris Is More Than Helpfull -- If You Can,t Pick Up Enough Info From This Thread Go Back To Kindy

Malcolm - you may want to post the "go back to kindy" reply to many other posters who were unsure about about the announcement which was the point of my post - and not all NZO shareholders view this site. You'll also note that the production update on the NZO website includes explaination on the tempoary decrease in expected production due to my query to Chris.
I am not questionuing Chris's valuable PR input - just asking for a clearer explanation on imporatant announcements. Anyway, if you read the post properly..,.

[777]

Chalice just ignore Malcolm. He is a loose canon. Launches into replying without understanding the post he is commenting on.

[Woody51]

I agree, punters left guessing and plain English saved for the journalists. Makes no sense to me.

[bermuda]

Why can't NZO/Chris Roberts put forward announcements in laymans terms i.e. Momoho-1 exploration well didn't yield commercial quantities - such as above - in NZX/ASX announcements? I'm not sure - are NZO holders (65%+ non institution) expected to be experts in analysing technical data/jargon or have consultants who can/do?

Chris, have a look at the last few pages and see the confusion the announcment caused.

Do you agree there needs to be a change in policy to ensure a level playing field for everyone...?

Not all doom and gloom, atleast it wasn't dry + the fundamentals should drive the SP up to analysts valuations before long, but a more pragmatic approach to announcements would be appreciated.

Chalice,
I agree. Not a very straightforward announcement at all.

And I agree again with others. Chris is doing a very good job. This just needed something a liitle more straightforward.

[Chalice]

I agree, punters left guessing and plain English saved for the journalists. Makes no sense to me.

Thanks Woody51, 777 & bermuda!! Woody, your "plain english" comment is a much more succinct (that's understandable for Kindy Grads) way of putting my point across!

[digger]

Well drilling in the last 12 months has been a big letdown.Momoho is little better than Tieke.At Tieke we were left with small traces but a possible sidetrack after more tests are done.The conclusion given was that maybe oil was there somewhere but deeper. Haven't heard any more about Tieke
Several things come to my mind about Momoho.With the other two wells it will probable get developed.Also conserative estimated are the order of the day and as with TUI it will probably be twice as large after it gets going[if it gets going].
The other thing about momoho was that it was always going to be down the track development anyways. The central field area will take up the main action for the coming years so regardless if Momoho had been a big winner it would still be on the back burner for some time.That time can be used to poke around a bit more and see how extensive the field is. Maybe it will turn out like TUI and be shallow but cover a large ares and with future price rises will become economic.
What i would like to see NZO do now is to put the talk of a big spendup [acquistions]on the distant back burner.We need that money to find and develop more oil and gas fields right where we are,where we know most about what we are doing.Get over committed trying to take on the big boys and that money could soom evaporate and then we are back looking for shareholder injections to develop any future finds here.Our base is not secure enough for distant acquistions.Note i leave out the possibility of a move on PPP here as with this company we probably have access to near as you can get info on that target. But the going outside even Aus looking for opportunities scares me,and it shoud scare the rest of you.
Momoho has shown we have much to still look for here.

[bermuda]

Well drilling in the last 12 months has been a big letdown.Momoho is little better than Tieke.At Tieke we were left with small traces but a possible sidetrack after more tests are done.The conclusion given was that maybe oil was there somewhere but deeper. Haven't heard any more about Tieke
Several things come to my mind about Momoho.With the other two wells it will probable get developed.Also conserative estimated are the order of the day and as with TUI it will probably be twice as large after it gets going[if it gets going].
The other thing about momoho was that it was always going to be down the track development anyways. The central field area will take up the main action for the coming years so regardless if Momoho had been a big winner it would still be on the back burner for some time.That time can be used to poke around a bit more and see how extensive the field is. Maybe it will turn out like TUI and be shallow but cover a large ares and with future price rises will become economic.
What i would like to see NZO do now is to put the talk of a big spendup [acquistions]on the distant back burner.We need that money to find and develop more oil and gas fields right where we are,where we know most about what we are doing.Get over committed trying to take on the big boys and that money could soom evaporate and then we are back looking for shareholder injections to develop any future finds here.Our base is not secure enough for distant acquistions.Note i leave out the possibility of a move on PPP here as with this company we probably have access to near as you can get info on that target. But the going outside even Aus looking for opportunities scares me,and it shoud scare the rest of you.
Momoho has shown we have much to still look for here.

I am with you Digger, always am.

Have a look at the British Open. You would need your best wet weather gear Digger.

[Casa del Energia]

Reading the above posts; Come to think of it – more information would be a welcome thing.
When it comes down to it – If you or I were to present a proposal to an investor with as little detail of business strategy, proposed development and analytical detail as is often served up so far - - then I suspect I would get thrown out of the meeting room or at least sent off with a ‘please prepare a detail plan by tomorrow or get out’.
Personally – I don’t really have the time to go fishing around the Crown minerals site to get a handle on what is really going on – and it is a nark to have to do that.

[Sideshow Bob]

I am with you Digger, always am.

Have a look at the British Open. You would need your best wet weather gear Digger.

As a sidetrack Bermuda, the British Open is always great viewing. Great to watch pro's hacking it around in tough conditions!!

[Chalice]

What a fantastic post Digger - can't say more..

[Nitaa]

I agree wih Digger and co. Concentrate on oil exploration not on aquisition. I dont want to see a best deal in town done like DPC did with St Laurence.

[CAM]

Momoho field failure costs explorers $50m
http://www.stuff.co.nz/4621965a13.html


and in the Herald.........
GUSHING OVER OIL
http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10522152

[Bob C]

Good post Cam - interesting to see opposing reports in the NZ media on the same day. I wonder what oil price Aspect Huntley are using to come up with their $1.83 (NZD or AUD) valuation? I believe most of the other analysts covering NZO have used $100 - still around $30 lower than the current price, even after the "correction" of the last few days.

No selling on my part for sure - not at these prices!

Bob C

[Bilo]

Oil for August delivery now appears to be under someone's control. Poacher turned game keeper, perhaps?
Is this a result of the President taking some lads behind the bike shed the other day?
We may or may not have speculation but we do have manipulation.
When will it end? :eek: Obviously a good thing for the free world but sets up the shorters to excrete all over the productive side of the industry.
Now it wouldn't be the same organisation(s) responsible, or would it?

[Chris Roberts]

Chalice and others: Drilling announcements are very carefully worded. There is certain terminology that has to be used to align with internationally agreed definitions. In this particular case, the announcement was drafted by the operator and then agreed to by the joint venture partners. We try to use 'plain language' when we can, but it is not always possible.
Our plain language Quarterly Activities Report will be out at the end of July.

[777]

Thank you Chris. However these announcements are meant to keep the market informed. To write them so they can't be easily interpreted by those that are meant to be informed is unacceptable. NZOG is not alone on this.

[digger]

Oil for August delivery now appears to be under someone's control. Poacher turned game keeper, perhaps?
Is this a result of the President taking some lads behind the bike shed the other day?
We may or may not have speculation but we do have manipulation.
When will it end? :eek: Obviously a good thing for the free world but sets up the shorters to excrete all over the productive side of the industry.
Now it wouldn't be the same organisation(s) responsible, or would it?

My thoughts on why it is so hard for many to understand Peak Oil is the play of politics around the issue. Take todays third big drop in crude to just below 130.For some time i had the idea this would happen about now.In fact i say it will fall to 120.Why?? Because of the olympics. The Chinese have the ability to single handly do this.Firstly they certainly know when the olympics are being held so simply stock up on fuel before hand.This stocking up is in the previous six months and will send the fuel price up as it did.With a month before the olympics pull out of the market and the price will fall. Presto--the feel good factor---business as usual---we can all relax and be happy.
So peak oil will be put off until after the olympics and the US might even try to stall it until after the elections. Come 2009 and the sh-it will really hit the fan.
I am so sure of this i will be stocking up on diesel shortly for next summers digger work.

So peak oil has been postponed for a few months.Can we revisit this topic then.?
__________________
digger

In summary that is where the manipulation is.

[Chalice]

Chalice and others: Drilling announcements are very carefully worded. There is certain terminology that has to be used to align with internationally agreed definitions. In this particular case, the announcement was drafted by the operator and then agreed to by the joint venture partners. We try to use 'plain language' when we can, but it is not always possible.
Our plain language Quarterly Activities Report will be out at the end of July.

777
Thank you Chris. However these announcements are meant to keep the market informed. To write them so they can't be easily interpreted by those that are meant to be informed is unacceptable. NZOG is not alone on this.
-------

Thanks for the reply Chris, but I still am experiencing some dissonace:

There are variations to the announcments by the various JV partners in this instance and have been in the past.

Why should "plain language" be allowed in almost syncronstic media handout/reports?

The stock exchange should and must be the forum where every shareholder can easily understand important announcements rather than having to surf the web.

Wait till end July for a plain language report - yeah right!

[Dr_Who]

My thoughts on why it is so hard for many to understand Peak Oil is the play of politics around the issue. Take todays third big drop in crude to just below 130.For some time i had the idea this would happen about now.In fact i say it will fall to 120.Why?? Because of the olympics. The Chinese have the ability to single handly do this.Firstly they certainly know when the olympics are being held so simply stock up on fuel before hand.This stocking up is in the previous six months and will send the fuel price up as it did.With a month before the olympics pull out of the market and the price will fall. Presto--the feel good factor---business as usual---we can all relax and be happy.
So peak oil will be put off until after the olympics and the US might even try to stall it until after the elections. Come 2009 and the sh-it will really hit the fan.
I am so sure of this i will be stocking up on diesel shortly for next summers digger work.

So peak oil has been postponed for a few months.Can we revisit this topic then.?
__________________
digger

In summary that is where the manipulation is.

What makes you so sure that the Chinese are manipulating the oil market? Do you have any hard evidence or just a gut feeling?

[remy]

I am so sure of this i will be stocking up on diesel shortly for next summers digger work.



nice idea, how long can you keep deisel and petrol for without it going off?

[Woody51]

Chris, I think you have done a good job at NZO, but you have lost me on this. Next time you publish a vague report. that has most holders confused to a point that they do not know whether it's good or bad, I'll be ringing you. Don't see why journos should have the inside running.

[duncan macgregor]

DR WHO, You and i both know the markets are manipulated in all sorts of different ways. perfect example is a share price dropping for no other reason than a bad announcement the following day. The people in the know selling to the suckers that dont know.
That example is the signal for traders to load up or sell out of stocks in advance of the event. If you think that countries are immune to taking advantage of situations or indeed create situations of advantage, then you are in for some rude financial shocks. China is manipulating the resource sector at this moment, buying up to a position of control for future political and financial gain.
It will all hit the fan after the olympics so enjoy the dead cat bounces in the short term the price of oil will sky rocket after that. Macdunk

[digger]

What makes you so sure that the Chinese are manipulating the oil market? Do you have any hard evidence or just a gut feeling?

about 3 and 4 months ago i read that the chinese had upped their imports and then i got that feeling,so the answer to your question is both gut and some evidence.I have not seen that in the last week they have dropped it but probably will not until after the games.

[ericlin10]

Phaedrus can you TA a chart on NZO look like it is going to break soon

[Crypto Crude]

mackdunk-DR WHO, You and i both know the markets are manipulated in all sorts of different ways. perfect example is a share price dropping for no other reason than a bad announcement the following day. Macdunk

Thats called inside information, You got some mackdunk?
what about AGM.......;)....
Now Im not going to speculate on What Chinese officials are doing.,... What I can say is Pollution is very bad in China, so many cars have been taken off the road... heres an article http://www.china.org.cn/olympics/news/2008-07/02/content_15922169.htm
One thing for sure is that Rising oil prices lead to the downturn of oil prices through a recession and less consumption....
If nothing is done, in the future we will have ravenous price hikes in any sort of market...
we have been warned...
NZO is well positioned to take advantage of this...
My favourite NZX stock...
:cool:
.^sc

[Billy Boy]

Chris
I am of the same opinion as most others. I would like the readable !!
I put it to you :- I/WE are the shareholders of the company. Why
should Jurno's, Institutions, Stock Brokers etc etc. get the readable
info before those who own the bloody company ??.:confused:
You have most email addz's, why not a quick abreviated email in
good old plain english??. After all it's time you should be very careful
about the shareholders as well :mad:
BB

[bermuda]

about 3 and 4 months ago i read that the chinese had upped their imports and then i got that feeling,so the answer to your question is both gut and some evidence.I have not seen that in the last week they have dropped it but probably will not until after the games.

The Chinese are very astute planners and are about 5 years ahead of the US. They have been building a strategic reserve as well. They know oil is going to get very tight.

Pity about Momoho. Not all bad news but the oilers of the world had me all excited.

At least the Kupe drills delivered on the high side so now let us accumulate the $$$$ from Tui and get ready to roll out Kupe.

The oil price will rise again and NZO will also.

[duncan macgregor]

Phaedrus can you TA a chart on NZO look like it is going to break soon Go to Direct Broking site get into super charts look it up yourself. The sp is down to the thirty day moving average. It might not be as good as the charts that PHAEDRUS produces but it gets you up to date as required. Hope that helps. Macdunk

[Chris Roberts]

Chris
I am of the same opinion as most others. I would like the readable !!
I put it to you :- I/WE are the shareholders of the company. Why
should Jurno's, Institutions, Stock Brokers etc etc. get the readable
info before those who own the bloody company ??.:confused:
You have most email addz's, why not a quick abreviated email in
good old plain english??. After all it's time you should be very careful
about the shareholders as well :mad:
BB

What was so unreadable about the release? It clearly told you that:
Momoho-1 discovered a small gas condensate pool, with a gross column between 2896 - 2921 metres.
This is the third indication of hydrocarbons in the area (the others being Kupe South 4 and Kupe South 5).
Potential remains for hydrocarbons within a large closure to the northeast.
This northeast area will be evaluated further.
Further studies will be done to determine whether a combined development might be possible.

Journalists and stockbrokers have not been treated any differently than shareholders - anyone can send us a particular question and we will do our best to answer it.

[AMR]

Go to Direct Broking site get into super charts look it up yourself. The sp is down to the thirty day moving average. It might not be as good as the charts that PHAEDRUS produces but it gets you up to date as required. Hope that helps. Macdunk

Unfortunately it has broken down, but there is a large congestion zone around 150-160 which should help support the price.

[temptation]

Chris is doing a fine job. Oil exploration is a complicated business and they can only just have started analysing the data from Momoho. They haven't given up on Momoho/Kupe South. Don't expect Chris to give us the kind of 1 sentence idiot sound bites that the media use to distort the facts.

[dumbass]

Phaedrus can you TA a chart on NZO look like it is going to break soon

testing support at 1.64 and up trend line

current price on chart may change as closing price will be entered

i have draw trend lines and support a little different to mr p as i use candlesticks but its pretty much the same

dont forget to look at these lines as being a bit elastic so not confirmed yet

[dsurf]

Chris - Thank you and the NZO management for actively engaging in PR. This has single handedly reduced some of the discount in the shareprice. Keep up the good work!

[Phaedrus]

Ericlin, the NZO "medium-term" uptrend ended yesterday when it made a lower low after a lower high. This is easier to see if you look at the "zig-zag" indicator (dotted magenta line) which filters out market "noise" (moves of less than 5%). The confirmed trendline was broken yesterday, giving a Sell signal and an exit at $1.66.
You can see that todays fall has now broken below the trailing stop and moving average as plotted.
These Sell signals have not as yet been confirmed by the break of the OBV trendline, but keep in mind that this indicator plots the total daily volume traded and since it is not yet mid-day, we can expect the OBV to be lower by the end of trading today. Volume today would have to be greater that yesterday's 1,200,000 for the OBV to break its trendline. Right now, the volume is at 500,000.

http://h1.ripway.com/Phaedrus/NZO718.gif

Duncan, Supercharts don't really "get you up to date as required" - they are a day behind. The current NZO Superchart plots the latest NZO price as $1.66 rather than $1.61 for example.
While the "The sp is down to the thirty day moving average", this means nothing in the context of NZO's 6 month uptrend, in that it has been broken before while the uptrend continued.

[Billy Boy]

What was so unreadable about the release? It clearly told you that:
Momoho-1 discovered a small gas condensate pool, with a gross column between 2896 - 2921 metres.
This is the third indication of hydrocarbons in the area (the others being Kupe South 4 and Kupe South 5).
Potential remains for hydrocarbons within a large closure to the northeast.
This northeast area will be evaluated further.
Further studies will be done to determine whether a combined development might be possible.

Journalists and stockbrokers have not been treated any differently than shareholders - anyone can send us a particular question and we will do our best to answer it.

Thankyou Chris:)

[duncan macgregor]

PHAEDRUS, coming from a man that sticks a lump of 4x2 up to the screen to get trend lines i then take the latest price and nail it to the end. It really depends on how critical the price is for buying or selling. Keep it simple to your own level of understanding is the important thing to get right. Macdunk

[Dr_Who]

Looks like $1.50 is the next support? I recall $1.50 was a strong support during the options expiring.

Digger, thanks for your comments on China. The reason I ask is that I was fascinated by the conspiracy theory. Do you have any links to read further?

[Casa del Energia]

Looks like $1.50 is the next support? I recall $1.50 was a strong support during the options expiring.

Digger, thanks for your comments on China. The reason I ask is that I was fascinated by the conspiracy theory. Do you have any links to read further?

Just to make you sleep really well at night. Don't forget the military modernistion that has been taking place for some time e.g.

http://www.voanews.com/english/archive/2006-08/ChinaMilitary2006-08-21-voa48.cfm

Economic empires don't come without a military that can project power accross oceans.

[Hoop]

Interesting but not surprising that NZO medium trend line broke at a similar time of the medium trend line break on the Crude oil chart.

Hmmmm...kinda makes you wonder if NZO is no more special than the other oilers at the moment...

[Dr_Who]

Just to make you sleep really well at night. Don't forget the military modernistion that has been taking place for some time e.g.

http://www.voanews.com/english/archive/2006-08/ChinaMilitary2006-08-21-voa48.cfm

Economic empires don't come without a military that can project power accross oceans.

I understand that the US will spend $15 billion building one of the largest US military base in Guam. Guam is a few hours flight to China. $6 billion of that is coming from Japan. If I was the Chinese, I would naturally assume this to be a sign of war from the US and Japan. I just cant believe the arrogance of the US and the Japanese. The US are not making any friends around the world.

[Chalice]

What was so unreadable about the release? It clearly told you that:
Momoho-1 discovered a small gas condensate pool, with a gross column between 2896 - 2921 metres.
This is the third indication of hydrocarbons in the area (the others being Kupe South 4 and Kupe South 5).
Potential remains for hydrocarbons within a large closure to the northeast.
This northeast area will be evaluated further.
Further studies will be done to determine whether a combined development might be possible.

Journalists and stockbrokers have not been treated any differently than shareholders - anyone can send us a particular question and we will do our best to answer it.

Chris,

You are not listening.

Have another read of the debate on this website about this announcement and tell me its so.

Whether or not you agree there is obvious indication that there was an issue.

We all have commented on and think you are doing a great job, don't take the comments as a personal attack - but don't dismiss them either - they are real.

All we are asking for, which I might say on the body of evidence is justified, is some reasonable clarity for future announcements to spell out the obvious.

PS Your summary above + the addition of " non commercial" would have been perfect....

[Dr_Who]

Why dont NZO merge or buyout PPP? NZO will have over 20% of the Tui revenue with PPP on board. You can recover the T/O cost of PPP in one year and after that is pure profit. Management team can be under one umbrella, and cost significantly reduced.

Also with PPP on board, NZO will be in the NZX20. I really cant see why there is PPP and NZO. One entity brings so much benefit.

disc: shareholder

[zorba]

.

QUOTE from Chalice:

"Chris,

You are not listening.

Have another read of the debate on this website about this announcement and tell me its so.

Whether or not you agree there is obvious indication that there was an issue.

We all have commented on and think you are doing a great job, don't take the comments as a personal attack - but don't dismiss them either - they are real.

All we are asking for, which I might say on the body of evidence is justified, is some reasonable clarity for future announcements to spell out the obvious.

PS Your summary above + the addition of " non commercial" would have been perfect.... "

END QUOTE


Chalice,

I disagree with your view.

Three cases:

1. The well encounters no hydrocarbons and the well is a dud. Simplest announcement -- the well is a dud.

2. The well encounters 100s of meters of hydrocarbons and the well is a success. Annoucement is more complicated -- but might say well is a success but more studies and more drilling is required to reliably determine potential reserves, and even more studies are required to see how best to commercialise the discovery.

3. The well is neither a failure nor an obvious success. Now the JV operator has to be carefull not to give the wrong impression, either way the annoucement could move the share price unjustifably up or down.

In the case of Momoho-1 the announcement tells it how it is ....... the main conclusion is that further studies are required to see if a development could be viable by combining the hydrocarbons from the three adjacent wells.

In the case of the Momoho structure it also looks like the JV would need to drill another hole on the other side of the dividing fault to test the presence and size of the potential hydrocarbon reservoir indicated by seismic surveys on the north-eastern side of the fault.

But before commiting to another test drill, the JV wants to evaluate the results from Momoho-1 well and no doubt redo the seismic modelling now that they have additional depth control for the seismic reflections. If the further studies are encouraging then another test well could be drilled at considerable expense. In the meantime the JV is being prudent with your investor funds.

Momoho-1 is clearly not a failure nor is it rip roaring success.

Of course investors / traders want the latter.

No point in being peeved if the well does not produce a bonanza.

Z

.

[Casa del Energia]

I understand that the US will spend $15 billion building one of the largest US military base in Guam. Guam is a few hours flight to China. $6 billion of that is coming from Japan. If I was the Chinese, I would naturally assume this to be a sign of war from the US and Japan. I just cant believe the arrogance of the US and the Japanese. The US are not making any friends around the world.

I wasn't aware of the expenditure on Guam (and not to trivialise it - that's 'only' equivalent to a handful of B2s).
But that does give me some comfort. All (or many?) NZO holders have cottoned to the fact that oil is going to be a resource that will be squabbled over when the going gets tough - and it will. Keep in mind that the Pacific war was triggered by oil embargo on Japan and always remember what human nature is like - I am comforted by a refurbishment at Guam.. especially if the Great South Basin is ever a goer.
The conspiracists probably won't believe me: but Iraq wasn't actually about oil, however Darfour is - proof: note who vetoed in the security council.
So - what if NZO discovers a field off Taranaki that is big enough to propel NZ into OPEC - Then I say 'build another 10 Guams' - I prefer coca cola to anything else.

[duncan macgregor]

[QUOTE=Casa del Energia;- what if NZO discovers a field off Taranaki that is big enough to propel NZ into OPEC - Then I say 'build another 10 Guams' - I prefer coca cola to anything else.[/QUOTE] If they did it would probabely raise the price of oil to the level it is in Scotland at the moment. look at the great ammount of good that the north sea oil fields did the average punter in the streets there. The chinese are smart enough to let the yanks bankrupt themselves then pick up the road kill. I only hope for all our sakes that they discover oil some where other than NZ. I can just see a bush like war monger attacking us to save us from HELEN and her cronies. Macdunk

[Bob C]

NZO
18/07/2008
MEETING

REL: 1453 HRS New Zealand Oil and Gas Limited

MEETING: NZO: NZOG Annual General Meeting

New Zealand Oil & Gas Limited (NZOG) is pleased to advise that the company's
Annual General Meeting will be held on Wednesday 29 October 2008.

The venue is the Grand Room, Holiday Inn, 75 Featherston St, Wellington, with
the meeting commencing at 10.30am. Additional investor briefings will be held
in Auckland and Christchurch on the day following the AGM.

AGM
Date: 29 October
Time: 10.30am
Venue: Holiday Inn
75 Featherston Street
Wellington

Auckland Investor Briefing
Date: 30 October
Time: 10am
Venue: Crowne Plaza
128 Albert St
Auckland

Christchurch Investor Briefing
Date: 30 October
Time: 6pm
Venue: The George
50 Park Terrace
Christchurch

Directors Nominations
New Zealand Oil & Gas Ltd advises pursuant to NZSX Listing Rule 3.3.2 that
the closing date for director nominations is Friday 29 August 2008.
Nominations should be addressed to:

The Chairman o
f the Board
New Zealand Oil & Gas Ltd
PO Box 10 725
Wellington.

The Notice of Meeting will be sent to shareholders in September.
End CA:00167577 For:NZO Type:MEETING Time:2008-07-18:14:53:10

[Nitaa]

.

QUOTE from Chalice:

"Chris,

You are not listening.

Have another read of the debate on this website about this announcement and tell me its so.

Whether or not you agree there is obvious indication that there was an issue.

We all have commented on and think you are doing a great job, don't take the comments as a personal attack - but don't dismiss them either - they are real.

All we are asking for, which I might say on the body of evidence is justified, is some reasonable clarity for future announcements to spell out the obvious.

PS Your summary above + the addition of " non commercial" would have been perfect.... "

END QUOTE


Chalice,

I disagree with your view.

Three cases:

1. The well encounters no hydrocarbons and the well is a dud. Simplest announcement -- the well is a dud.

2. The well encounters 100s of meters of hydrocarbons and the well is a success. Annoucement is more complicated -- but might say well is a success but more studies and more drilling is required to reliably determine potential reserves, and even more studies are required to see how best to commercialise the discovery.

3. The well is neither a failure nor an obvious success. Now the JV operator has to be carefull not to give the wrong impression, either way the annoucement could move the share price unjustifably up or down.

In the case of Momoho-1 the announcement tells it how it is ....... the main conclusion is that further studies are required to see if a development could be viable by combining the hydrocarbons from the three adjacent wells.

In the case of the Momoho structure it also looks like the JV would need to drill another hole on the other side of the dividing fault to test the presence and size of the potential hydrocarbon reservoir indicated by seismic surveys on the north-eastern side of the fault.

But before commiting to another test drill, the JV wants to evaluate the results from Momoho-1 well and no doubt redo the seismic modelling now that they have additional depth control for the seismic reflections. If the further studies are encouraging then another test well could be drilled at considerable expense. In the meantime the JV is being prudent with your investor funds.

Momoho-1 is clearly not a failure nor is it rip roaring success.

Of course investors / traders want the latter.

No point in being peeved if the well does not produce a bonanza.

Z

.You are totally correct. Anything more would be speculation which has the ability to falsely alter the SP.

As much as I would like 100% clarification just like the rest of you since the JV doesnt know 100% then how can they give more accurate info. In short, further evaluation is required

[Paddie]

NZO
18/07/2008
MEETING

REL: 1453 HRS New Zealand Oil and Gas Limited

MEETING: NZO: NZOG Annual General Meeting

New Zealand Oil & Gas Limited (NZOG) is pleased to advise that the company's
Annual General Meeting will be held on Wednesday 29 October 2008.

The venue is the Grand Room, Holiday Inn, 75 Featherston St, Wellington, with
the meeting commencing at 10.30am. Additional investor briefings will be held
in Auckland and Christchurch on the day following the AGM.

AGM
Date: 29 October
Time: 10.30am
Venue: Holiday Inn
75 Featherston Street
Wellington

Auckland Investor Briefing
Date: 30 October
Time: 10am
Venue: Crowne Plaza
128 Albert St
Auckland

Christchurch Investor Briefing
Date: 30 October
Time: 6pm
Venue: The George
50 Park Terrace
Christchurch

Directors Nominations
New Zealand Oil & Gas Ltd advises pursuant to NZSX Listing Rule 3.3.2 that
the closing date for director nominations is Friday 29 August 2008.
Nominations should be addressed to:

The Chairman o
f the Board
New Zealand Oil & Gas Ltd
PO Box 10 725
Wellington.

The Notice of Meeting will be sent to shareholders in September.
End CA:00167577 For:NZO Type:MEETING Time:2008-07-18:14:53:10



At least they can afford to put on a few more sausage rolls this year!!!

Paddie

[fish]

[13/7/08QUOTE=malcolm;212007]nzog has now all the credentials of a top stock but just SHAKE your head fellows and remember market sentiment will sink the best and it will hapen shortly-be carefull

was $1.92 16 days ago now$1.60 those bright eyed who;; margin bought ;;are so quite--how things change may be they are out fishing:)[/QUOTE]

I dont pretend to have a crystal ball like you malcolm but I do love it when market sentiment over-reacts.
Bought more yesterday-at 1.67 and have a buy order in for more at $1.60 today .
Havnt got time to explain why-suggest you read Warren Buffet-am off fishing -west coast Northland looks very good for fishing .

cheers

[digger]

[13/7/08QUOTE=malcolm;212007]nzog has now all the credentials of a top stock but just SHAKE your head fellows and remember market sentiment will sink the best and it will hapen shortly-be carefull

was $1.92 16 days ago now$1.60 those bright eyed who;; margin bought ;;are so quite--how things change may be they are out fishing:)[/QUOTE]

I refused to margin buy at the recent option conversion for this very reason.I raised a morgage on the farm instead.The reasoning was that if Momoho came up like it did it would give big pockets the opportunity to force the SP down and trip out the margin holders.This is what i think is going to happen.Note the fundamentials stay the same but it make a low SP.The old story big pocket buys back in after forceing margin trader out,then SP rerates. I wonder if Noah operater under margin trading as it would have occurred then as well.Very old play

[foodee]

was $1.92 16 days ago now$1.60 those bright eyed who;; margin bought ;;are so quite--how things change may be they are out fishing:)


Havnt got time to explain why-suggest you read Warren Buffet-am off fishing -west coast Northland looks very good for fishing .

cheers[/QUOTE]

Fish -weather forecast NW -W and rough seas and poor visibility.
Looks like you are heading into rough patches both in the market and the sea.

Good luck



Cheers

[Casa del Energia]

If they did it would probabely raise the price of oil to the level it is in Scotland at the moment. look at the great ammount of good that the north sea oil fields did the average punter in the streets there. The chinese are smart enough to let the yanks bankrupt themselves then pick up the road kill. I only hope for all our sakes that they discover oil some where other than NZ. I can just see a bush like war monger attacking us to save us from HELEN and her cronies. Macdunk

Totally agree vis a vis Scotland/north sea oil. The rig workers are generally not from Partick let alone the shareholders/benefactors. NZO is largely NZ/Aussie held but if experience is anything to go by - that will change (I used to hold Waste Man, Flect Engergy, Montana all gone overseas now - and I am quietly amazed I haven't been squeezed out of NZO… yet). And it is good that NZ has nothing strategic that anyone really wants (yet) (Although - wide open spaces is becoming a 'commodity' that is in world wide short supply).
However - I doubt that the description of US and US leaders as warmongers is all that accurate.
Both Mexico and Canada hold pot loads of oil - Whilst you could argue the annexation of Texas was a bit dodgy and Canada/US had a duff up in 1812(?) - you can definitely say that the odds off US troops going across either boarder today is pretty low.
Contrast the Indian/Sino boarder, Sino/Soviet boarder, Korean/Sino boarder, Vietnamese/Sino boarder not to mention the 'T' word -- going by that, it appears that it is not a case being smart enough to wait for road kill, they just haven't had the car to make their own road kill yet.

Lobby Bush to station F22s at Guam.

[Chalice]

.

QUOTE from Chalice:

"Chris,

You are not listening.

Have another read of the debate on this website about this announcement and tell me its so.

Whether or not you agree there is obvious indication that there was an issue.

We all have commented on and think you are doing a great job, don't take the comments as a personal attack - but don't dismiss them either - they are real.

All we are asking for, which I might say on the body of evidence is justified, is some reasonable clarity for future announcements to spell out the obvious.

PS Your summary above + the addition of " non commercial" would have been perfect.... "

END QUOTE


Chalice,

I disagree with your view.

Three cases:

1. The well encounters no hydrocarbons and the well is a dud. Simplest announcement -- the well is a dud.

2. The well encounters 100s of meters of hydrocarbons and the well is a success. Annoucement is more complicated -- but might say well is a success but more studies and more drilling is required to reliably determine potential reserves, and even more studies are required to see how best to commercialise the discovery.

3. The well is neither a failure nor an obvious success. Now the JV operator has to be carefull not to give the wrong impression, either way the annoucement could move the share price unjustifably up or down.

In the case of Momoho-1 the announcement tells it how it is ....... the main conclusion is that further studies are required to see if a development could be viable by combining the hydrocarbons from the three adjacent wells.

In the case of the Momoho structure it also looks like the JV would need to drill another hole on the other side of the dividing fault to test the presence and size of the potential hydrocarbon reservoir indicated by seismic surveys on the north-eastern side of the fault.

But before commiting to another test drill, the JV wants to evaluate the results from Momoho-1 well and no doubt redo the seismic modelling now that they have additional depth control for the seismic reflections. If the further studies are encouraging then another test well could be drilled at considerable expense. In the meantime the JV is being prudent with your investor funds.

Momoho-1 is clearly not a failure nor is it rip roaring success.

Of course investors / traders want the latter.

No point in being peeved if the well does not produce a bonanza.

Z

.

Is there an inherent inability to actually understand what the objection is???

Its not about being peeved about the result.
Its not about the fact it will take time to assess the results and hence make a statement to market about the future viability of the 3 structures.

Its about the CLARITY of the announcement and it's implications - first, second and last!

Its about shareholders being able to readily decipher the statement to the NZX and properly assess what the implications are.

This forum is about debate, discussion and information sharing and ability to express concern, delight, thoughts etc.

If others could immediately interpret the announcement congradulations, but myself and others couldn't - and that's the point we were trying to get across.

Get It??

[fish]

Fish -weather forecast NW -W and rough seas and poor visibility.
Looks like you are heading into rough patches both in the market and the sea.

Hi Foodee,

I always watch the weather closely but then add my own interpretations for local conditions .
The fishing trip was very successful- spearing for flounder ,sole and herring with an underwater light-the west coast was calm and the wind and rain havnt arrived yet.
Dark nights are always the best-somehow the moon came out for all to see-and thats when I stopped fishing !

Cheers

P.S-my buy order at 1.60 wasnt filled but suspect there will be more opportunities to pick up more nzo in the next 2 weeks

[Sideshow Bob]

Directors Nominations
New Zealand Oil & Gas Ltd advises pursuant to NZSX Listing Rule 3.3.2 that
the closing date for director nominations is Friday 29 August 2008.
Nominations should be addressed to:

The Chairman of the Board
New Zealand Oil & Gas Ltd
PO Box 10 725
Wellington.


OK, so who are we nominating????

[tim23]

Charts - what about fundamentals? Has anything changed much from a week or so back, Tui, Pike & Kupe, Momoho was always a bonus so thats the change!

[NOCASH]

i brought some more at 1.89, this brings me back to in the past while i brought in at 1.15 and sold out at 1.01 cents... so i learn my lesson and going to hold on for the ride.

[BigBob]

Charts - what about fundamentals? Has anything changed much from a week or so back, Tui, Pike & Kupe, Momoho was always a bonus so thats the change!

Absolutely nothing has changed!!

In fact this little pull-back is quite healthy in IMHO as it's shaking some of the weaker hands out.... just be patient & wait.. well I am anyway.... still sitting on the bulk of my holdings, but must admit to some profit taking....

[tim23]

Me too - haven't sold any although the hindsightists should have got me out @ $1.90 and back in today but then again they should have helped me win lotto last week and of course I didn't.

[foodee]

Fish -weather forecast NW -W and rough seas and poor visibility.
Looks like you are heading into rough patches both in the market and the sea.

Hi Foodee,

I always watch the weather closely but then add my own interpretations for local conditions .
The fishing trip was very successful- spearing for flounder ,sole and herring with an underwater light-the west coast was calm and the wind and rain havnt arrived yet.
Dark nights are always the best-somehow the moon came out for all to see-and thats when I stopped fishing !

Cheers

P.S-my buy order at 1.60 wasnt filled but suspect there will be more opportunities to pick up more nzo in the next 2 weeks


Fish
Great work. I see you too like the 'bottom feeders' - nice.
Great fishing in the far north. Will be up there for a couple of months
after Labour W/E - fishing of course!

cheers

[Crypto Crude]

tim23
Charts - what about fundamentals? Has anything changed much from a week or so back, Tui, Pike & Kupe, Momoho was always a bonus so thats the change!

big bob
Absolutely nothing has changed!!

In fact this little pull-back is quite healthy in IMHO as it's shaking some of the weaker hands out.... just be patient & wait.. well I am anyway.... still sitting on the bulk of my holdings, but must admit to some profit taking....

Are you two being serious...?
Correct me if im wrong, but Oil prices just had the biggest 3 day Drop in dollar terms of all time... If that aint fundamentals then I dont know what is...
No cash, You have the best avatar Ive seen... Real real good... and thankyou for being honest....
:cool:
.^sc

[QOH]

Could we come up with enough votes?

[Mingeathinaikos]

Are you two being serious...?
Correct me if im wrong, but Oil prices just had the biggest 3 day Drop in dollar terms of all time... If that aint fundamentals then I dont know what is...
No cash, You have the best avatar Ive seen... Real real good... and thankyou for being honest....
:cool:
.^sc


NOCASH, that is sensational. Certainly more entertaining than the dribble on the last 5 pages....

[fish]

Are you two being serious...?
Correct me if im wrong, but Oil prices just had the biggest 3 day Drop in dollar terms of all time... If that aint fundamentals then I dont know what is...
No cash, You have the best avatar Ive seen... Real real good... and thankyou for being honest....
:cool:
.^sc

SC

I would suggest you reconsider the above interpretations
To me it seems you are somewhat gullible .
Facts are- No Cash is not being completely honest-to say the least
Tapis dropped brifly below us 140 yesterday but when you posted was back above .
Prices above $130 and current production around 40000 barrels per day mean that nzo is earning more than any analyst predictions .
Oil price volatility is expected-I doubt if you will find anyone here that expected Tapis to remain over $150-so for most of us the fundamentals are little changed and remain the best of any nz company .
The next quarterly report out very soon is likely to show fantastic results.

[Dr_Who]

P.S-my buy order at 1.60 wasnt filled but suspect there will be more opportunities to pick up more nzo in the next 2 weeks


You maybe right. From my own observation the market usually sell down an oiler aggressively if they fail a drill, with or without good oil production. This is evident with BPT and other oilers in Aussie.

If it goes below $1.60 the next support is $1.50.

[foolme]

Well i slept alot better last night now that i have sold my NZO.I'm not a smart person like most of you guy's.I don't know much so i look for advice in different places,like here.What i like about these sites how no one's ego's get in the way and how honest everyone is.But what would i know i'm easly fooled.
p.s sorry about the spelling.

[Excelsior]

Well i slept alot better last night now that i have sold my NZO.I'm not a smart person like most of you guy's.I don't know much so i look for advice in different places,like here.What i like about these sites how no one's ego's get in the way and how honest everyone is.But what would i know i'm easly fooled.
p.s sorry about the spelling.

The most important thing is to get a good nights sleep. Never forget that most here are speculators - speculating that the price of oil will hold well above $100 and that NZO will find more oil, possible but not probable. Site is full of ramp when shareprice is rising but will go very quiet if SP drops heavily - then punters will slink back into their holes and suffer their losses quietly. This share may do very well but is not for the fainthearted. Look at the disappointment over the Momoho result - blaming the wording in the announcement. Oil is the classic short term bubble and it may just have popped. Long term it will rise but who wants to halve their investment and wait years.

Disc: hold NZO

[Billy Boy]

Excelsior...
Good post :)
Disc: hold NZO
BB

[corporateraider]

Unless Excelsior's post is with tongue firmly in cheek then its a nonsense

[temptation]

The sp is still higher than it was when the options stopped trading
The sp is still higher than 150+final NZOOD price
Tui is still pumping 40000 bopd
The poo is still around US$130 (similar level to 6 weeks ago)
PRC is still over NZ$2.00 and pushing through the fault
Kupe ever closer
Lots of cash in the bank from NZOOD conversion
More analysis of Momoho/Kupe South to be done

:)

[Crypto Crude]

FIsh,
I agree with you on one thing... NZO is the best NZX company...


excelsior- Site is full of ramp when shareprice is rising but will go very quiet if SP drops heavily .then punters will slink back into their holes and suffer their losses quietly. This share may do very well but is not for the fainthearted. Look at the disappointment over the Momoho result - blaming the wording in the announcement. Oil is the classic short term bubble and it may just have popped. Long term it will rise but who wants to halve their investment and wait years.

excelsior,
I think yourve been abit unfair with your post...
Who is suffering losses?... Only those that got in at the top suffer, this applies to all stocks... If you got in at the top you are still matching the index return anyway...
Yes Momoho was a dissapointment, It was drilled in a proven region where investors took on a well with low SP downside, with a shot at big SP upside... It was a good investment...
There are lots of posters here who truely know there stuff and Probably dont mean to intentionally ramp, They just come accross real excited and understand where NZO is headed... NZO has been on an extended run from just under $1...
Its having abit of a breather, and soon it will have its next leg up and track past $2... When Kupe is in full production NZO will be above $3....

Ramping is only a bad thing when you get it wrong...

NZO has demolished the index average and is a very good long term stock that has trended up for the whole of 2008...
Whats the problem?
:cool:
.^sc

[temptation]

NZO revenue in quarter to 31/3/08 was NZ$58,200,000, most of which comes from Tui (say 55 mill). NZO share of production was about 510,000 barrels, so NZO received an average of just below NZ$110 per barrel in the third quarter.

[Crypto Crude]

excelsior-Long term it will rise but who wants to halve their investment and wait years.

Disc: hold NZO

Nobody is forcing you to hold on for years...
:cool:
.^sc

[Corporate]

Looks like NZO have a new website. I have just opened the first page, but it looks very good:)

[Corporate]

Date Barrels Days Daily Average
6/7/2008 150000 6 25000
8/7/2008 210000 8 26250
13/7/08 400000 13 30769
17/7/08 550000 17 32352


Production since 13/7/08 is averaging at 37,500 BOPD.

Tui is quite simply outstanding.

[fish]

Tui is quite simply outstanding.[/QUOTE]

Beyond doubt-and with tapis still at $140 the spectacular profits should continue and then we have PRC and KUPE to look forward in addition . The big cash flow fall originally predicted for this year looks as if it will be avoided .
Hopefully this will enable nzo to pay a big dividend !