NZ Oil & Gas (NZO)

[Stu]

What is worse is that you use your ignorance to insinuate that the dead miners were actually the perpetrators of the tragedy which killed them.
Well, enough written - your posting speaks volume of the sort of person you are.
It is impossible from a moral point of view to stoop lower than to blame the victims of a tragedy for the tragedy.


It seems Balance considers that the suggestion that those most involved in the operations were least involved, and to suggest otherwise would be heresy? Which punishment would Balance mete for such a heretic as I? I, by my posting, being so obviously the person I am.
I would not wish you to stoop from your lofty height of morality oh moral one, but pray enlighten your lowly servant of what pennance I should serve for my sins?

[minimoke]

[QUOTE=Balance;444984]
But let's take the obvious hypothetical question, what if the disaster was primarily caused not by public or private sector regulators, or by the company's failures to comply with regulations, but by failures of the minors themselves to comply with regulations, either with suggestions that they were, for example, deliberately blocking sensors or failing to report problems, or continuing to work in what they knew were unsafe conditions (perhaps in order to maximize their returns).
Hypothetically, if this were the case, what action would you wish to take against the sponsors and beneficiaries of the perpetuators (ie their families) and regardless of their responsibilities under the law?
Hypothetically Stu, you might want to look at what motivated the Miners to do such things. Hypothetically you might find that management provided sensors that weren’t accurately calibrated. Hypothetically the sensors may have given inconsistent readings and were unreliable. You hypothetically might find not too many sensors were provided. You may hypothetically find the miners were under immense production pressures that management put them under. Hypothetically their owners might have been looking for some exports to generate cash to pay back the loans they had given. Let’s say the miners reported 100’s of incidents but management did nothing about them Hypothetically you might find that Christmas bonuses were promised by management, and approved by directors based on high production and the bonuses got significantly reduced for every level not achieved.

But lets move to the real world where all these things actually happened in real life. Not in some off shore mine but at Pike. You really need to become better informed about Pike and what its owners were up to. You’ll find your hypothesis easily explained.

In Pikes case you’ll find, on the whole, the sponsors and perpetuators were management and owners. I think I would like to see these parties accept some degree of responsibility. An apology might be in order and some kind of atonement. You know the standard 3A’s when things go wrong. They aren’t that hard to do.

[minimoke]

I.
I would not wish you to stoop from your lofty height of morality oh moral one, but pray enlighten your lowly servant of what pennance I should serve for my sins?
You know, its not often I get P#ssed but your post really F%cks me off. The miners for their sins paid with their lives and their families will forever pay the price. Pike is one of the country's worst industrial accidents which you just seem to fail to grasp teh implications. Heaven help New Zealand companies if they have a board of Directors with attitudes like yours - you might want to check out the proposed new safety legislation which puts a huge onus on a Director as a Person In Control of a Business or Undertaking. These kind of attitudes are a sure way of eroding investor value

[stanace]

I just don't get it. What do you mean, the shareholders? There are none, now. Should we look at the books the day of the explosion and see who held shares? Or how about the day before? Or when?

[Balance]

You know, its not often I get P#ssed but your post really F%cks me off. The miners for their sins paid with their lives and their families will forever pay the price. Pike is one of the country's worst industrial accidents which you just seem to fail to grasp teh implications. Heaven help New Zealand companies if they have a board of Directors with attitudes like yours - you might want to check out the proposed new safety legislation which puts a huge onus on a Director as a Person In Control of a Business or Undertaking. These kind of attitudes are a sure way of eroding investor value

Sadly, Mini - some seriously sick-in-the-head individuals around who take morbid delight in aggravating the agony and misfortunes of the victims' families.

A damning Royal Commission report,

A scathing judgement ('total lack of remorse'),

An investigative book which exposed how safety was blatantly disregarded by Pike River management and safety warnings ignored,

And two exNZOG directors cowardly refusing to testify to help ascertain what happened.

We still have Noggers here trying to shift blame to the victims of the tragedy - a tragedy brought about due to the total disregard for safety by Pike River.

[Balance]

Well put Stu. In bits and pieces it has all been said many times before but it is a good summary.
I see on to nights news that 8 forest workers are killed each year. At that rate it takes less than four years to equal the PIKE tragedy in this industry alone.. Every one of those deaths in the timber industry is just as important and deserve as much attention and financial support as the 29 pike men. Balances vindictive mission against NZO to pay up must never be allowed to win as it will change the limited liability structure of this country--a point I have made several times before.


Stu your comment that the failure of the workers to comply with regulations is spot on and probably a leading cause of the accident. Clearly they were daily on the premise and would have had first hand knowledge of the dangers. I fully expect that the forest workers would have less deaths each year if regulations were followed.

After the explosion, you tried to shift the blame to the Greens, the Dept of Conservation and then, the Labour Dept.

Have you for ten seconds thought about the management and directors?

Especially after the Royal Commission Report?

Now you are trying to shift the blame to the victims themselves.

Shame on you, Digger, for stooping so low.

[arjay]

Not sure I agree with Stu's earlier remarks about Al Gore - sure he was a trailblazer and said a few things that turned out to be not correct, however nowadays the evidence is overwhelming that anyone who doesn't believe that humans contribute to global warming are right up there with those flat-earthers stoning Galileo. Then again, there aren't many of those about - I suspect most people who question the human contribution are just business-as-usual types trying to convince themselves they won't have to change their ways anytime soon.

Stu, your comment about the miners is interesting. There is an attitude out there that because they paid the ultimate price for going to work that day then anything they may have personally done to cause the accident doesn't get counted. Even if they find the bodies holding onto cigarettes the blame will still reflect back onto PRC for all the reasons we already know about.

[Balance]

Stu, your comment about the miners is interesting. There is an attitude out there that because they paid the ultimate price for going to work that day then anything they may have personally done to cause the accident doesn't get counted. Even if they find the bodies holding onto cigarettes the blame will still reflect back onto PRC for all the reasons we already know about.

FACT : If safety features to drain the methane were in place, there would have been no built up of methane.

FACT : If safety precautions were in place and warnings were heeded, there would have been no miners in the mine.

FACT : Shortcuts were made by Pike River to circumvent safety features and safety precautions.

FACT : Pike River was warned about potential explosions and the warnings were ignored.

Who was responsible for incorporating safety features and safety precautions in the development of the mine?

Answer that question and we all know who is really responsible for the tragedy.

Everything else is speculation, raised to divert attention away from the cowards who hide behind the corporate cloak of invisibility.

[fish]

If safety features to drain the methane were in place, there would have been no built up of methane.

If safety precautions were in place and warnings were heeded, there would have been no miners in the mine.

Who was responsible for incorporating safety features and safety precautions in the development of the mine?

Answer that question and we all know who is really responsible for the tragedy.

Directors of prc,management,safety officer,and last but not least dept of labour.
I simply don't understand why you consider its one particular shareholder.
As I shareholder of prc-i bought a heap at closing AFTER the mine had blown-it is without justification and unprecedented for the shareholders to be held responsible.
Directors and labour department should be roasted for not ensuring safety as was their job.

[Balance]

Directors of prc,management,safety officer,and last but not least dept of labour.
I simply don't understand why you consider its one particular shareholder.
As I shareholder of prc-i bought a heap at closing AFTER the mine had blown-it is without justification and unprecedented for the shareholders to be held responsible.
Directors and labour department should be roasted for not ensuring safety as was their job.

Read Judge Farish's judgement for goodness' sake rather than parrot mouth what the Diggers of this world are attempting to do - blow the judgement up to cover all eventualities. Classic diversion tactics by the cowardly and those with guilty consciences to divert attention.

"Total lack of remorse"

"Biggest shareholder, NZOG, and directors with means, can pay and should pay."

Moral imperative - not legal.

Get it?

[arjay]

Read Judge Farish's judgement for goodness' sake rather than parrot mouth what the Diggers of this world are attempting to do - blow the judgement up to cover all eventualities. Classic diversion tactics by the cowardly and those with guilty consciences to divert attention.

"Total lack of remorse"

"Biggest shareholder, NZOG, and directors with means, can pay and should pay."




Moral imperative - not legal.

Get it?

I think the point made by Fish and others has been missed here. The view that the largest minority shareholder should pay for everyone because they have the cash is completely illogical. If NZO should pay then all PRC shareholders should pay pro-rata, including all the little guys who lost all their dosh. Actually, the richest minority shareholder is probably ACC, so if the moral imperative is for "can pay should pay" (which is a ridiculous notion) then why aren't you talking to ACC?

[croesus]

Weasel words, arjay..stanece etc
If I was a shareholder in NZOG or PRC, at the time and I was billed for $3.27 c as my share of the reparation... I would pay it with out hesitation....

as shareholders.. if the dividends had flowed .. you would have toasted yourselves with Moet... SHAREHOLDERS that's the point .! good or bad, not legally.. maybe but morally.
Yeah its easy to slag Balance , and Mini Moke.. re the legality of responsibility... well life is more then that...go look in the mirror...

[stanace]

Weasel words, NOT, I asked a simple question. You now write, "at that time"! What time, the day of the explosion, the day before, when I sold my shares, or the previous year, when I sold at a loss?
ACC lost over $17,000,000 on that day. They then told the Govt. that they did not have enough money for the next year, and all ACC contributions went up. Meanwhile PRC went to 0, and Nzog halved from 1.60 to 80c, if my memory serves me.
Work it out, the only people who never lost were ACC. I am not prepared to get into a discusion about who was to blame, I am just asking for some logical explanation why "Shareholders" should be the ones to pay, ie if payments required, onwhat basis do you define a shareholder for a company that no longer exists.

[Balance]

Is the owner of a horse, liable for the death of a jockey, if the horse throws them off?

No. It's simply a dangerous job & the jockey knows the risk prior to mounting the horse.



Is Ford, the race track or the team manager liable if one of their engines blows up during a car race, spilling oil under it's tyres and causing a fatal crash?

No. The drivers know it's a possibility prior to starting the engine. The cars are full of safety equipment in attempt to keep them safe, but they aren't failsafe.


Is a coal mine a dangerous place?

Well Wikipedia (http://en.wikipedia.org/wiki/Mining_accident) seems to think so.

Yes, owner of the horse is liable if he knows the horse is unsound and has a propensity to throw riders off - and the owner does not let the jockey know what kind of horse he is riding.

Yes - if Ford does not equip the car with the safety equipment, and the driver drive the car thinking it is full of safety equipment.

Yes - a coal mine is a dangerous place which is why safety has to be paramount.

You have just answered your own questions.

Thank you.

[fish]

The royal commission of enquiry did not find NZO culpable -you seem to have forgotten balance that we had a royal commission that performed a fair enquiry with all parties represented.
You are obviously totally unbalanced and i would probably enjoy your laughable posting if it wasnt an attempt to fuel a long hatred you have had towards nzog who have already acted with dignity ,compassion and provided financial assistance towards the victims of this tragedy .
You just want to fuel hate and are using this tragedy for your own long held campaign against nzog.




In November 2010 John Key announced that the Government would conduct a Royal Commission of Inquiry into the disaster, to be led by Justice Graham Panckhurst.[78][79] Unionist Matt McCarten criticised the composition of the Commission on the grounds that it should have at least one union member, which government had refused, arguing that including union members would risk bias.[80] On 13 December 2010, Attorney-General Chris Finlayson announced the names of the two people to join Judge Pankhurst on the Royal Commission of Inquiry: Stewart Bell, the Queensland State Government Commissioner for Mine Safety and Health; and David Henry, formerly Inland Revenue Commissioner and Chief Executive of the Electoral Commission.[81] The Royal Commission was originally expected to report its findings by March 2012.[82]
On 30 October 2012, the Chair of the Royal Commission, the Hon Justice Pankhurst presented the Royal Commission report to the Attorney-General Chris Finlayson in Wellington[83]
The Royal Commission's Final Report was released to the public on 5 November 2012.[84] Later that day, the Minister of Labour Kate Wilkinson resigned her portfolio in response to the conclusion that the regulation and inspection of mining by the Department of Labour had failed to prevent the accident.[85]
The former directors John Dow, Ray Meyer, Stuart Nattrass and former chief executive Peter Whittall rejected accusations of running an unsafe mine and said they disagreed the Royal Commission's conclusion that the directors had not acted properly over health and safety at the mine. Grey District Mayor Tony Kokshoorn blamed the mine managers.[86]
On 12 December 2012, the Government released a plan to implement the recommendations of the Royal Commission.[87][88]

[Balance]

The royal commission of enquiry did not find NZO culpable -you seem to have forgotten balance that we had a royal commission that performed a fair enquiry with all parties represented.
You are obviously totally unbalanced and i would probably enjoy your laughable posting if it wasnt an attempt to fuel a long hatred you have had towards nzog who have already acted with dignity ,compassion and provided financial assistance towards the victims of this tragedy .


[87][88]

Premium class BS.

Dignity? TR and ex-NZOG CEO Gordon Ward refused to testify and attend.

Compassion? No apology and no representation at the Memorial Services.

Financial Assistance? $500,000 after pocketing the lion share of the insurance payout of $90m.

[Balance]

The former directors John Dow, Ray Meyer, Stuart Nattrass and former chief executive Peter Whittall rejected accusations of running an unsafe mine and said they disagreed the Royal Commission's conclusion that the directors had not acted properly over health and safety at the mine. Grey District Mayor Tony Kokshoorn blamed the mine managers.[86]
On 12 December 2012, the Government released a plan to implement the recommendations of the Royal Commission.[87][88]

So you base your assertion on the directors disagreeing with the findings of the Commission?

Let's see what Peter Whittall, self-made hero of the tragedy aftermath and subsequently revealed to have laughed at the impossibility of the escape shaft, say in his own defense when he is brought to trial. The other directors and managers must be wondering what's in store for them.

[Balance]

Post #12826 July 2013
I spoke to david salsbury at the nzo agm a few weeks before the explosion.

He had confidence in peter whitall .



This is you, Fish, swallowing whole the premium class BS from NZOG.

At the Inquiry, it was revealed that David Salisbury told NZOG's board in August 2010 that he had lost confidence in Peter Whitall.

AGM was October 2010 - 2 months after DS told the Board to fire Peter.

Or else, you are a liar.

Take your pick, pickled fish and suck on it.

Hook, line and sinker - you swallowed deep?

[fish]

This is you, Fish, swallowing whole the premium class BS from NZOG.

At the Inquiry, it was revealed that David Salisbury told NZOG's board in August 2010 that he had lost confidence in Peter Whitall.

AGM was October 2010 - 2 months after DS told the Board to fire Peter.

Or else, you are a liar.

Take your pick, pickled fish and suck on it.

Hook, line and sinker - you swallowed deep?

Karma balance
Read the royal commission findings and my posts.I am in full agreement with the commission findings.
Look at how much nzo lent prc to keep funding wages/contractors etc after the explosion.
I have said repeatedly the directors and management and dept labour had responsibility for safety.
This is what the royal commission says.
You are so fuelled by hatred for nzo and ratford that you cannot comprehend what the royal commission has determined.
The pressure should be on the directors and ward-I would like to see him extradited and charged as we need him to be cross-examined.
Why not concentrate your hatred on the prc thread as you will get nothing here-nzo shareholders don't feel responsible and have voted not too pay anymore.

I

[croesus]

Premium class BS.

Dignity? TR and ex-NZOG CEO Gordon Ward refused to testify and attend.

Compassion? No apology and no representation at the Memorial Services.

Financial Assistance? $500,000 after pocketing the lion share of the insurance payout of $90m.



My last post, but could some of the NZOG sycophants... explain why the above did not attend ?

[skid]

Premium class BS.

Dignity? TR and ex-NZOG CEO Gordon Ward refused to testify and attend.

Compassion? No apology and no representation at the Memorial Services.

Financial Assistance? $500,000 after pocketing the lion share of the insurance payout of $90m.

So your disagreeing with the Royal Commission

[skid]

So you base your assertion on the directors disagreeing with the findings of the Commission?

Let's see what Peter Whittall, self-made hero of the tragedy aftermath and subsequently revealed to have laughed at the impossibility of the escape shaft, say in his own defense when he is brought to trial. The other directors and managers must be wondering what's in store for them.

And here in the next post your slagging the directors for disagreeing with the Royal Commission-----Hmmmm

[skid]

My last post, but could some of the NZOG sycophants... explain why the above did not attend ?

The ex Head of Pike should have attended--but If Tony Radford should have-then so should the Head of ACC

''sick in the head" and "sycophants''(psychopaths?) comments are not going to help the debate.

[skid]

My last post, but could some of the NZOG sycophants... explain why the above did not attend ?

The ex Head of Pike should have attended--but If Tony Radford should have-then so should the Head of ACC

''sick in the head" and "sycophants''(psychopaths?) comments are not going to help the debate.

[Balance]

Karma balance
Read the royal commission findings and my posts.I am in full agreement with the commission findings.
Look at how much nzo lent prc to keep funding wages/contractors etc after the explosion.
I have said repeatedly the directors and management and dept labour had responsibility for safety.
This is what the royal commission says.
You are so fuelled by hatred for nzo and ratford that you cannot comprehend what the royal commission has determined.
The pressure should be on the directors and ward-I would like to see him extradited and charged as we need him to be cross-examined.
Why not concentrate your hatred on the prc thread as you will get nothing here-nzo shareholders don't feel responsible and have voted not too pay anymore.

I

Problem with you, Fish is that you do not bother to read before you write. That's why you were caught either lying or were lied to by NZOG.

NZOG is an embedded and the principal shareholder in Pike.

NZOG kept underwriting and sponsoring capital raising to cover the mishaps, delays, cost over-runs and gross mismanagement of Pike - to 'protect' its investment.

After the explosion, NZOG put in more money 'in the best interests of the shareholders of NZOG.' Andrew Knight tried to argue NZOG acted for Pike and when challenged by John campbell on TV3, backed down as he knew the truth. NZOG was 'protecting' its investment in Pike - it had to keep the mine going as much as possible as it considers its options. NZOG decided to put Pike into receivership.

As for NZOG shareholders not feeling responsible and have voted not to pay anymore, 2 corrections :

1. There is not 'anymore' because NZOG has paid bugger all - $500,000 donation after taking over $40m from PIke's insurance payout.

2. Of course NZOG shareholders do not feel responsible - ACC and others were but bystander shareholders. It was up to the directors of NZOG to recommend and take the moral imperative of doing the right thing.

I sense you still have the NZOG fish hook, line and sinker inside you.

Maybe, it's time to seek help?

[spirit]

These guys very positive on NZO:

http://zetaresources.co/

Have lifted interest in NZO by another 1%

[spirit]

Zeta are serious believers in NZO:

http://zetaresources.co/wp-content/uploads/2013/10/13.09-September-2013-Fact-Sheet.pdf

[Balance]

Zeta are serious believers in NZO:

http://zetaresources.co/wp-content/uploads/2013/10/13.09-September-2013-Fact-Sheet.pdf

NZOG's kind of shareholder?

SP down 48% since inception.

Dogs sleep together?

Or fleas and dogs sleep together?

[spirit]

The Minister may be getting the message at last:

"The answer is .... in making sure the industry matches up to the world's best-practice environmental standards,"

http://www.stuff.co.nz/nelson-mail/news/94580

[arjay]

Spirit - this is a 'slag NZO and anyone who supports it' thread. You appear to be confusing it with oil exploration ;)

[spirit]

Yes Arjay, possibly so.

Zeta have actually done quite well since listing, up from 44c in June to 56c current. Being significantly undervalued relative to asset backing they could do rather well on success at Matuku.

[Stu]

Not sure I agree with Stu's earlier remarks about Al Gore - sure he was a trailblazer and said a few things that turned out to be not correct, however nowadays the evidence is overwhelming that anyone who doesn't believe that humans contribute to global warming are right up there with those flat-earthers stoning Galileo. Then again, there aren't many of those about - I suspect most people who question the human contribution are just business-as-usual types trying to convince themselves they won't have to change their ways anytime soon.


Actually Arjay, Gore's Global Warming beliefs have been completely and universally debunked based on the last 20 years of data. Even the term has had to not so discreetly be changed to Climate Change. And the notion of definitely 100 percent caused by humans to "contribute" has also been edited in there, completely unnoticed by you apparently. An obedient and partizan press will do that though. And anyone who questions the status quo of this religion is of course, a flat earther, a heretic, a sinner etc. But I digress.

[Stu]

Balance, you don't seem to have answered the question, here it is again:
But let's take the obvious hypothetical question, what if the disaster was primarily caused not by public or private sector regulators, or by the company's failures to comply with regulations, but by failures of the minors themselves to comply with regulations, either with suggestions that they were, for example, deliberately blocking sensors or failing to report problems, or continuing to work in what they knew were unsafe conditions (perhaps in order to maximize their returns).
Hypothetically, if this were the case, what action would you wish to take against the sponsors and beneficiaries of the perpetuators (ie their families) and regardless of their responsibilities under the law?

[spirit]

Stu, I don't quite understand your post. What are you actually trying to say about global warming/climate change?

[Stu]

I think is was during the 2000 debates where the 2 candidates were asked about global warming, Gore replied that it was completely man made, measurable and real, and completely correlated and caused by co2 levels. Bush replied that humans definitely contributed and pollution should be reduced, but the causes, effects and solutions needed to be clarified. Given the climate is always changing, and given there has been no warming in the last 20 years (let alone in line with Co2, and given Bush is considered an idiot, this places Gore in a dubious position. To maintain credibility and momentum then, a system of interchangeable and changing terminology is used, GW/CC being bracketed together, Anthropogenic CC (or AGW) being used interchangeably with, then without the "A", replacing CC with the next iteration etc. Essentially using language to make the dogma fit the science. especially with so much political capital at stake.
The planet (this time with some help from the swelling human population) may very well warm as it has plenty of times in the past, we are after all in an ice age. But Gore's prophesies from the last century were mostly guesswork and political expediency.
And what of it anyway? With the US abandoning the mid east to their anti-democratic chaos and nuclear arms race, and their own economy collapsing, and China and Russia growing ever more influential and expansive, and europe in a hole,
the international "community" isn't going to be too worried about things like energy compliance and emissions for a while.

How's that for off topic? :laugh:

[Balance]

Balance, you don't seem to have answered the question, here it is again:
But let's take the obvious hypothetical question, what if the disaster was primarily caused not by public or private sector regulators, or by the company's failures to comply with regulations, but by failures of the minors themselves to comply with regulations, either with suggestions that they were, for example, deliberately blocking sensors or failing to report problems, or continuing to work in what they knew were unsafe conditions (perhaps in order to maximize their returns).
Hypothetically, if this were the case, what action would you wish to take against the sponsors and beneficiaries of the perpetuators (ie their families) and regardless of their responsibilities under the law?

And my answer to you is precisely the same as before.

A damning Royal Commission report,

A scathing judgement ('total lack of remorse'),

An investigative book which exposed how safety was blatantly disregarded by Pike River management and safety warnings ignored,

And two exNZOG directors cowardly refusing to testify to help ascertain what happened.

We still have Noggers here trying to shift blame to the victims of the tragedy - a tragedy brought about due to the total disregard for safety by Pike River.

Digger and you are stooping very low, and it's very clear you like to be down there.

So stay there.

[spirit]

Moosie - that's a great idea. Extramural at Massey may be worth a look. You can fit the study around your normal life as well having a big get together on campus over the term breaks.

[spirit]

Stu, might I suggest you also consider doing a few more papers in science directed towards a better understanding of climate science. Unless you have been pulling my leg, I'm afraid all the science out there is demonstrating without any shred of scientific doubt that we have a very serious situation in the world where anthropogenic driven climate change is now firmly upon us. Your reference to no warming in the last 20 years is simply astounding and defies all the published data that I am aware of. However I don't see that your comments are off topic because the whole nub of the problem as I see it and as relates to this thread is how to intelligently link continuing hydrocarbon exploration with our continuing survival on this planet, and this predicated on acknowledging the scientific reality of CO2 linkage to climate change.

[Balance]

I'm enrolling all of you in philosophy and ethics courses when Uni starts back up in 2014 since you all seem to love it all so much.

Balance, I look forward to your philosophical discourse entitled "Pike River - The ethical debate, shareholder responsibility and how I can do more for those suffering".

Thanks, Moosie.

Let's start with getting NZOG to man up, apologize for promoting, supporting and driving the Pike River Mine towards the tragedy, and doing the moral imperative of the right thing as a first start towards 'how I can do more for those suffering?'

And what is going to be your contribution, Moosie?

[Balance]

Yes Arjay, possibly so.

Zeta have actually done quite well since listing, up from 44c in June to 56c current. Being significantly undervalued relative to asset backing they could do rather well on success at Matuku.

Shares were issued at $1 each.

Those who participated are sitting on 44% losses.

The bulk of its assets are in - you guess it - NZOG shares!

[digger]

Stu, might I suggest you also consider doing a few more papers in science directed towards a better understanding of climate science. Unless you have been pulling my leg, I'm afraid all the science out there is demonstrating without any shred of scientific doubt that we have a very serious situation in the world where anthropogenic driven climate change is now firmly upon us. Your reference to no warming in the last 20 years is simply astounding and defies all the published data that I am aware of. However I don't see that your comments are off topic because the whole nub of the problem as I see it and as relates to this thread is how to intelligently link continuing hydrocarbon exploration with our continuing survival on this planet, and this predicated on acknowledging the scientific reality of CO2 linkage to climate change.

From what I have read most of the heating in the last 20 years or so have gone into the ocean and the atmosphere has not change much.

[skid]

Actually Arjay, Gore's Global Warming beliefs have been completely and universally debunked based on the last 20 years of data. Even the term has had to not so discreetly be changed to Climate Change. And the notion of definitely 100 percent caused by humans to "contribute" has also been edited in there, completely unnoticed by you apparently. An obedient and partizan press will do that though. And anyone who questions the status quo of this religion is of course, a flat earther, a heretic, a sinner etc. But I digress.
So- its not 100%(cows fart etc.) Maybe its only 90%---Is your ''gut feeling'' that it can now be ignored?
You dont think (truthfully)somethings going on there when you see all the info on the glaciers-ice caps melting-Rainforests being decimated-...Noticed the global weather lately?
If your feeling comfortable with all that ,then no problem,but if you have doubts,then the issue of ''playing with words'' is maybe pretty far down the priorities list

[skid]

From what I have read most of the heating in the last 20 years or so have gone into the ocean and the atmosphere has not change much.

Im not an expert by any means,but a rise in temperature in the ocean is potentially catastrophic--Thats the kind of stuff that actually ''creates''the world weather.
There's a current that circles the globe that starts with the cold water from the polar ice sinking and rotating around the earth(its what creates the Indian monsoon along with just about everything else to a certain extent)--Its warm ocean currents that feed the Typhoons like the last one in the Philippines)
The ocean water is becoming slowly more acidic and once that plankton goes (the start of the food chain) Im sure you can put together the rest.

Lets face it --this is an ''off topic thread anyway'' and this stuff is certainly related to oil---At the risk of pissing off anyone-compared to this ,Pike pales in significance.

The same can be said for those that ignore this stuff as those that ignore the Pike issues(only on a grander scale)
If we screw up the oceans (any more)it will not be a pretty picture.

[RTM]

Hi Stu,
If it were the miners doing those things, and it's highly possible, then that reflects very poorly on the management team of the mine. Safety is a culture that starts at the top of an organisation and trickles down. Management need to give it the appropriate emphasis, otherwise, yes, that is what the workers will do. It's very much a collective responsibility, but management, starting at the very top, need to make sure there is an ingrained safety culture. And yes, that takes some money and time to make happen. In an industry like underground coal mining, one would have thought it would have been a cornerstone of the operation. Apparently not at PRC.

[Bobcat.]

Skid (and anyone else interested) - please note the following:

A. Carbon dioxide is not a pollutant, in spite of many people's recent attempts to classify it as one, for political purposes. Without C02, plant life could not exist and neither would we. Man never created carbon, God did;
http://www.wnd.com/2013/07/if-theyre-really-serious-about-global-warming/

B. Apart from slightly elevated C02 levels in micro-climates around densly populated cities, mankind really has very little effect on carbon levels. Don't swallow the lie that its the industrialised age and all our irresponsible use of technology that has caused global warming - there is really no credible data correlation to support that argument

C. Earth's temperature rises and falls over time do have a strong correlation to a single activity - something beyond man's control. Yep, you guessed it, solar activity...or the lack of it.
http://www.wnd.com/2013/11/scientists-mystified-by-lack-of-sunspots/

Sunspot activity, solar flares, etc account for almost all global temperature fluctuations (cyclic or otherwise) and it is the folly of human pride (and to a lesser extent, greed) that would have us believe that mankind can control the uncontrollable, and that all we need is a new growth industry and global tax regime to put things right.
http://www.newsmax.com/Newsfront/littleiceage-sunspots-sun-earth/2011/06/15/id/400199

Al Gore - you have a lot to answer for. Just as well some English Lords were still hanging around this side of their grave to bring you to account.
http://www.newsmax.com/Rahn/Global-Warming-Temperature-Data/2013/04/02/id/497516
But of course the damage has been done, and you still made your millions talking up your 'green' investments. Many unfortunately have been duped into watering and growing the seeds that you, Obama and others have sown - having been deceived they are now deceiving others.
http://w3.newsmax.com/a/mar10/
http://www.wnd.com/2007/11/44378/

Yes, there are many sides to this debate...it's an interesting one.

BC

[Bobcat.]

I'll serve drinks and popcorn. :)

Had enough of philosophy and ethics after 5 years at Uni!

I don't know how you can put Ethics and Morality behind you Moosie. They don't belong to academia but to all thinking men and women:

"Tut, tut, child" said the Duchess; "Everything's got a moral, if only you can find it" Lewis Carroll- Alice's Adventures in Wonderland.
"To denounce moralising out of hand, is itself to pronounce a moral judgement" H.L. Mencken, Prejudices
"Let us be moral - let us contemplate existence" Dickens
"Morality is made for man, not man for morality" Israel Zangwill
"Be sure that you are right, then go ahead" Davy Crockett during the war of 1812.

Yes, Morality is so much more than merely what Oscar Wilde would have us believe, namely "Morality is simply the attitude we adopt towards people we personally dislike".

BC

[brucey09]

Snrs.
Instead of "a raking over the coals" as you say on the Prc. Nzo is to be tasked with very big daily operating costs . For what is this? With still falling shares I buy for $1.5 each! Yes?

[arjay]

Your comments are definitely not off topic Stu. If much of the science-backed data is correct then there is strong evidence that we can't burn our existing oil discoveries without going over the edge. If this is the case then there is a strong argument that exploring for further reserves is a waste of time. There are powerful capitalist interests invested in this area though, so we can expect the controversies to be maintained as that is the best way of maintaining the status-quo.

[Stu]

Stu, might I suggest you also consider doing a few more papers in science directed towards a better understanding of climate science. Unless you have been pulling my leg, I'm afraid all the science out there is demonstrating without any shred of scientific doubt that we have a very serious situation in the world where anthropogenic driven climate change is now firmly upon us. Your reference to no warming in the last 20 years is simply astounding and defies all the published data that I am aware of. However I don't see that your comments are off topic because the whole nub of the problem as I see it and as relates to this thread is how to intelligently link continuing hydrocarbon exploration with our continuing survival on this planet, and this predicated on acknowledging the scientific reality of CO2 linkage to climate change.

Interesting that your "beliefs" are 100 percent certain yet your statement is extremely vague and even more interesting you fail completely to use the term "global warming", does this make you a denier? Clearly questioning the Gore 2000 100% certain position makes the heretic guilty of denialism, yet you yourself fail to recite the litany accurately or in full.
Your somewhat juvenile opening sentence does make a completely unintentional point regarding the science however:
http://www.spectator.co.uk/columnists/james-delingpole/9063201/why-cant-the-bbc-be-impartial-in-the-climate-change-debate/

[Stu]

So- its not 100%(cows fart etc.) Maybe its only 90%---Is your ''gut feeling'' that it can now be ignored?
You dont think (truthfully)somethings going on there when you see all the info on the glaciers-ice caps melting-Rainforests being decimated-...Noticed the global weather lately?
If your feeling comfortable with all that ,then no problem,but if you have doubts,then the issue of ''playing with words'' is maybe pretty far down the priorities list

90%? What's that? A guess? And what do "gut feelings" have to do with anything? Are they like heavenly visitations or proclamations from the Pharaoh?
And I have noticed global weather lately, today it 3 degrees higher than it was yesterday, gosh! At this rate we'll be cooked by next Thursday. Apparently though that global weather thing has been going on for ages, not sure what caused it before mankind starting sinning 100 years ago, makes Thor was just practicing just in case.
As for those rainforests, it's been pretty hard to decimate one in the developed world for decades now, you can't even evict some snails to make a coal mine safer. As for the third world, not sure they give a crap, and one thing I've learned from our media is meddling in their affairs is colonialistic, genocidal dictators and corrupt cultures are none of our business, or so I've been told.

[Stu]

And my answer to you is precisely the same as before.

A damning Royal Commission report,

A scathing judgement ('total lack of remorse'),

An investigative book which exposed how safety was blatantly disregarded by Pike River management and safety warnings ignored,

And two exNZOG directors cowardly refusing to testify to help ascertain what happened.

We still have Noggers here trying to shift blame to the victims of the tragedy - a tragedy brought about due to the total disregard for safety by Pike River.

Digger and you are stooping very low, and it's very clear you like to be down there.

So stay there.

Balance, you still haven't answered the hypothetical question (it is within your rights to refuse to testify though, I'm not sure why you'd want to cover this up though), however damning, scathing, blatantly or cowardly you view things. Also, "a total lack of remorse" is not a causal factor.

[fabs]

And now this!
Global warming 'pause' may last for 20 more years and Arctic sea ...
www.dailymail.co.uk/.../Global-warming-pause-20-years-Arctic-sea-ice-star..

May as well return to the topic, is NZO run to every ones satisfaction?
We can revisit G/W again in 20 years time Guys.

[Balance]

Balance, you still haven't answered the hypothetical question (it is within your rights to refuse to testify though, I'm not sure why you'd want to cover this up though), however damning, scathing, blatantly or cowardly you view things. Also, "a total lack of remorse" is not a causal factor.

Question for you - what is the difference between doing the right thing, and avoiding doing the right thing?

And my answer to you is precisely the same as before.

A damning Royal Commission report,

A scathing judgement ('total lack of remorse'),

An investigative book which exposed how safety was blatantly disregarded by Pike River management and safety warnings ignored,

And two ex NZOG directors cowardly refusing to testify to help ascertain what happened.

We still have Noggers here trying to shift blame to the victims of the tragedy - a tragedy brought about due to the total disregard for safety by Pike River.

Digger and you are stooping very low, and it's very clear you like to be down there.

So stay there.

[Balance]

Management played mine disaster hero, holding hope to families of the dead miners, when it was clear there was no hope.

http://www.listener.co.nz/current-affairs/pike-river-mine-fatally-flawed/

Excerpt : "that there was abundant evidence at the time that the explosion was almost certainly unsurvivable.
The mine manager and mines rescue men had flown over the ventilation shaft in the hours after the explosion and it was obvious the surface fan had been severely damaged, indicating it had been an enormous blast. CCTV footage of the rush of debris out the portal had been seen that night by Pike, mines rescue and police staff. Everyone knew the mine was extremely small – it had barely started producing coal – so there wasn’t a large network of roadways to disperse the force of the blast.
By the morning after the explosion, it was known there was a fire burning in the mine, with carbon monoxide at unsurvivable levels. By day three it was confirmed that the compressed air line into the mine had ruptured."

Excerpt : " Very little at Pike River was up to the task. The pipe that drained methane from the coal seam was under so much pressure that the men could hear the gas hissing, and the company had known for months that it urgently needed to be upgraded. Everyone knew that the ladder up the ventilation shaft was almost impossible to climb, yet it was still passed off as the mine’s emergency exit. Critically important mining machinery was completely unfit for purpose, which held up production and destroyed morale. Training was inadequate, particularly for contractors. There was no systematic assessment of risks before Pike launched into the hydro-mining system in late September 2010. Gas monitoring was inadequate. The list goes on."

[ziggy415]

playing hero......holding out hope.....its what we do when disaster strikes.....would you be more happy if the police said "oh well to bad, we,ll come back when the fire dies down and have a look.....hey were still doing it,spending 9 million to enter the tunnel to find two broken down robots and a solid rock fall with no chance of getting any further but we give hope. In any enquiery if you dig deep enough you will find something wrong..go back to your first car..the spongy brakes..the worn tyers...no tail lights...were all guilty and you only fix these things when your made to...mines inspection was inadequate

[spirit]

Stu and Bobcat, the basic problem with ignorance is that it doesn't know what it doesn't know. In respect of climate science, the only way to contribute to an intelligent discussion about climate science is to have an understanding of climate science.

Now several years ago Mrs Spirit was being bombarded with email from a friend who was contending that global warming etc was all a hoax. Most of this information was being sourced from someone calling himself Lord Monckton and so Mrs Spirit herself having studied science at University set out to educate herself and investigate these claims. These claims were inclusive of the range of links you have now provided. In brief after much in depth study she clearly established:

a/ the claims were either irrelevant to the case for climate change and global warming, or
b/ the claims had no scientific credibility, and
c/ most of the claims could be traced back to a select group of right wing American think tanks [usually sponsored by Big Oil] and invariably written by scientists with very dodgy credentials.

The outcome of all this was that the friend sending all the information was found to have no scientific understanding and refused to read any of the many papers being back provided to him by Mrs Spirit. Ironically, this seemed to confirm that he was not in fact reading and understanding any of the science within any of the articles he himself was dispatching.

For anyone who wants to become informed about the science of global warming and/or climate change etc there is a very good blog [Realclimate] that has been established to that purpose :

http://en.wikipedia.org/wiki/RealClimate

What further linkage to NZO? Recall how IBM made its fortune with the typewriter and the world changed and IBM got lost along the way. At some stage surely NZO will need to be adapting away from the fossil industry into something more global friendly. Fate got NZO out of coal thank goodness, but how to transition away from oil and gas could be the really big question.

[Balance]

playing hero......holding out hope.....its what we do when disaster strikes.....would you be more happy if the police said "oh well to bad, we,ll come back when the fire dies down and have a look.....hey were still doing it,spending 9 million to enter the tunnel to find two broken down robots and a solid rock fall with no chance of getting any further but we give hope. In any enquiery if you dig deep enough you will find something wrong..go back to your first car..the spongy brakes..the worn tyers...no tail lights...were all guilty and you only fix these things when your made to...mines inspection was inadequate

Therein lies the difference between those Who can hold their heads up all the time - they make things happen rather than react to things happening, and they pre-empt bad things from happening, versus those who wait for things to happen and then, take advantage (and in the case of Peter Whittall, play false hero) or worse still, wonder what has happened.

Which camp would you prefer to belong to?

[arjay]

And now this!
Global warming 'pause' may last for 20 more years and Arctic sea ...
www.dailymail.co.uk/.../Global-warming-pause-20-years-Arctic-sea-ice-star..

May as well return to the topic, is NZO run to every ones satisfaction?
We can revisit G/W again in 20 years time Guys.

Yeh, it can get tedious when posters add links to views expressed in the popular press. Despite the weight that a hyperlink appears to give to an argument, popular press articles (and the spin that various journalists put on the findigns of robust studies) can run in either direction. It's better to keep such references to peer reviewed studies only, although that will less likely support the business-as-usual set in discussions around GW. On the other hand, I think GW types of discussion are becoming more important to the NZO thread as the Co's future investment strategy may be guided by how govt responds to the issue.

[spirit]

This link cuts to the chase on the dubious science behind the sceptics of AGW:


http://www.skepticalscience.com/examining-christys-skepticism.html

Note - Richard Lindzen was previously of tobacco fame, being the scientific mouthpiece for the industry in denying the link between tobacco and lung cancer.

[digger]

Yeh, it can get tedious when posters add links to views expressed in the popular press. Despite the weight that a hyperlink appears to give to an argument, popular press articles (and the spin that various journalists put on the findigns of robust studies) can run in either direction. It's better to keep such references to peer reviewed studies only, although that will less likely support the business-as-usual set in discussions around GW. On the other hand, I think GW types of discussion are becoming more important to the NZO thread as the Co's future investment strategy may be guided by how govt responds to the issue.

Hi Arjay

I agree that the world needs to respond to GW but hardly think NZO should led by example by stopping exploration. What we humans need is a new energy source of which there seems to be few alternatives. The only two I know of are LENF and you can read all about that one by google ECAT. It may or may not be--beyond my brain but has been researched since 1989
The other turned up just the other day on TV. China is planning to set up a base on the mood and one of the reasons given was that there is a lot of energy there. The US discovered that about 25 years ago. I did read about it many years ago think it was called helium 3. The story went something like helium 3 does not exist on earth as it readly combines with oxygen to gives heaps of energy and water . So if it is so great why did the US not go after it. Now with the Chinese getting interested maybe with the competition they just might. Helium 3 is spitted out from the sun and collects on the moon but is used up on earth. Now I must admit I am just a farmer so if any of you chemist know the actual facts I would love to hear them. This is just a piece I read about 25 years ago and wondered if this would be the sunset of the oil industry as a energy source.
I personal find the global warming debate will get nowhere and nothing will happen until a new and better energy source is found. We will cook the planet rather than let go of our way of life. So Spirit, Arjay and all the rest that express an interest in the mess we are in WHAT CAN WE DO ABOUT IT. ??

[Stu]

Question for you - what is the difference between doing the right thing, and avoiding doing the right thing?



Well Balance, since you continue to refuse to answer or testify (it's almost certain you know something but are possibly covering up because of this payout you're seeking to cash in on) so I shall "answer" you question "Balance style":

Mangoes are yummy,

There is no firm scientific evidence for the existence of leprechauns,

If you don't like jazz music you are a racist.

[Snow Leopard]

Well Balance, since you continue to refuse to answer or testify (it's almost certain you know something but are possibly covering up because of this payout you're seeking to cash in on) so I shall "answer" you question "Balance style":

Mangoes are yummy,

There is no firm scientific evidence for the existence of leprechauns,

If you don't like jazz music you are a racist.

Mangoes are currently in season, the trees are full of them, and they are very tasty.

Leprechauns are a sort of foot complaint?

It depends whether you are talking traditional or modern jazz. Anybody who dislikes modern jazz has great taste.

You & Balance are obviously made for each other :blush:

Best Wishes
Paper Tiger

[Stu]

Stu and Bobcat, the basic problem with ignorance is that it doesn't know what it doesn't know. In respect of climate science, the only way to contribute to an intelligent discussion about climate science is to have an understanding of climate science.


So following this Dick Cheney like statement, you then go on to quote junk mail someone else got, and a link to a description of a blog, as your main argument? FFS. And following that spectator article you seem completely oblivious to the irony.
How about this, go away and read your blog and return with these answers.
Gore claimed as fact that global warming is predominantly or completely caused by increasing human made Co2, levels have gone up dramatically yet there is no temperature correlation whatsoever in the last 2 decades of data, and the forecast warming completely failed to appear.
Climate scientists predicted increasing and above average Atlantic Basin hurricane activity this year, we got a low.
How many skeptical scientists have been sacked, had their careers destroyed or had their data blocked by their universities, and how many non-skeptical scientists? And I'd suggest you look up "skeptic" in the dictionary sometime.

[blackcap]

oeHonestly, this thread has become so boring and repetitive id rather be on the Opinion & Politics section of Trademe or, heaven forbid, Parenting!
hahah I concur but... no one is making us come here :P

[Xerof]

Did anyone go to the Taylor Swift concert?



hey, just tryin......

[blackcap]

Did anyone go to the Taylor Swift concert?



hey, just tryin......

Ah darn, I knew there was something I forgot this weekend....

[digger]

Ah darn, I knew there was something I forgot this weekend....

The Paeroa to Waihi cycle track has been open for a few months. A must ride. Anyone go on it this weekend. I have never cycled it but you should.
How low can you go?/

[spirit]

Digger, that is an excellent question. Matuku should be underway tomorrow and then we are into some very exciting exploration, in the meanwhile these are my thoughts in response to your query:

I have just read a report on some recent research which looked into how any group of people comes to adopt a new majority view. The research concluded that once 10% of a population holds a new informed view, then very rapidly will the majority of that population also adopt that new understanding. This works because each of those with the new view is busy interacting with those around them and spreading that new understanding. As each other person is made familiar with the new information then the normal average, self thinking person examines their own view. Then based on the new information each finds their old view to be no longer tenable and the new view is adopted. Ten per cent is the threshold number when the remainder of the population begins to quite rapidly adopt the new understanding. There will always be a small number within any population who will never change their view irrespective of any new information, and they will probably take that view to the grave.

Therefore the answer to what we can do I believe is for each of us to speak up and inform others of the reality of AGW, and this also includes speaking up when others promote obvious falsehoods on the matter, such as Stu for example. The quest becomes to get to that 10% threshold as fast as we can possibly can.

We then have to believe that once the majority of our population has adopted a firm belief in the reality of AGW, that the political will to do something about it will rapidly emerge. I also believe that this modern age that we have now entered is rapidly demonstrating that the big issues and big problems are being dealt with by group action. This rather than by the old way of individualistic action. For example, both links I put up were of groups working together to deal with their problem and I'm guessing this approach must necessarily characterize how the biggie of planetary survival is going to be dealt with.

[arjay]

Hi Arjay

Helium 3 is spitted out from the sun and collects on the moon but is used up on earth. Now I must admit I am just a farmer so if any of you chemist know the actual facts I would love to hear them. This is just a piece I read about 25 years ago and wondered if this would be the sunset of the oil industry as a energy source. ??

Digger - If you're keen on the idea of harvesting Helium 3 from the moon check out the Kevin Spacey movie 'Moon'. It's fiction but kinda cool.

Agree - NZO should not stop exploring, however there may come a point where nervous governments make exploration less attractive to do. New energy sources will help for a while but in the end though our growth-based economy will come up against the finite resources of a finite planet. We really need to develop some sort of cyclic economy and in the meantime should focus on reducing consumption.

[arjay]

Did anyone go to the Taylor Swift concert?



hey, just tryin......

No, but was interested enough to watch some of her stuff on YouTube. She's a good artist but only plays one song - just changes the words around each time.

[Monkey Poms]

[QUOTE=spirit;446242]Digger, that is an excellent question. Matuku should be underway tomorrow and then we are into some very exciting exploration, in the meanwhile these are my thoughts in response to your query:

I have just read a report on some recent research which looked into how any group of people comes to adopt a new majority view. The research concluded that once 10% of a population holds a new informed view, then very rapidly will the majority of that population also adopt that new understanding. This works because each of those with the new view is busy interacting with those around them and spreading that new understanding. As each other person is made familiar with the new information then the normal average, self thinking person examines their own view. Then based on the new information each finds their old view to be no longer tenable and the new view is adopted. Ten per cent is the threshold number when the remainder of the population begins to quite rapidly adopt the new understanding. There will always be a small number within any population who will never change their view irrespective of any new information, and they will probably take that view to the grave.

Therefore the answer to what we can do I believe is for each of us to speak up and inform others of the reality of AGW, and this also includes speaking up when others promote obvious falsehoods on the matter, such as Stu for example. The quest becomes to get to that 10% thresholdouo as fast as we can possibly can.

,

Spirit You have described the way Germany quickly embraced the Nazi party in the 1930s allowing Hitler to take control. The report you read,was it in a well known Book he wrote at the time,
MP,

[Stu]

Digger, that is an excellent question. Matuku should be underway tomorrow and then we are into some very exciting exploration, in the meanwhile these are my thoughts in response to your query:

So let me get this straight, you believe the world will be destroyed by Co2 and you hold shares in a hydrocarbon burning company? Apparently we were on the brink in 2000 so the situation must be critical now and apparently britain will never see snow again, surely given the urgency some examples of the only rational responses are to: halt oil exploration entirely, impose a massive tax on all non-essential air travel, and quadruple the cost of petrol. As for cap and trade, surely this should be just cap. And carbon neutral? Why not just tax the Co2 consumption out of existence and demand the sequestration anyway? You'll get carbon negation, apparently civilization depends on it.
Where are the Greens on this? Why aren't they declaring the German model that pushed household energy prices up 30 percent? They seem way more concerned about getting a 5 dollar discount on copper internet prices. And exactly why is Obama bragging constantly about his near energy independence when this is on the back of gas fracking?

[Stu]

I have just read a report on some recent research which looked into how any group of people comes to adopt a new majority view.
Weren't you supposed to be reading scientific reports and reporting back some informative facts? Or is the psychological coercion model that much simpler?

[Stu]

We then have to believe that once the majority of our population has adopted a firm belief in the reality of AGW, that the political will to do something about it will rapidly emerge. I also believe that this modern age that we have now entered is rapidly demonstrating that the big issues and big problems are being dealt with by group action. This rather than by the old way of individualistic action. For example, both links I put up were of groups working together to deal with their problem and I'm guessing this approach must necessarily characterize how the biggie of planetary survival is going to be dealt with.

Two things, first, the constant use of the word belief, or believe.
Second, the belief that "the old way of individualistic action" is the problem, when the majority of environmental and social disasters were by the collectives, eg Mussolini, Stalin, Hitler, Mao, Pol Pot right down to the tribal mentalities to places like the mid-east, while the West was promoting conservation and environment protection, along with human rights and representation.

[Stu]

[QUOTE=spirit;446242]There will always be a small number within any population who will never change their view irrespective of any new information, and they will probably take that view to the grave.

You mean like Semelweis?

[Balance]

Matuku should be underway tomorrow and then we are into some very exciting exploration,



Noggers rejoice!

After a decade of failing to find any new oil or gas field, because this dog don't hunt, Noggers still believe in the exploration team and management of NZOG!

All NZOG has to do is dangle an exploration carrot in front of Noggers and they get weak at the knees and start talking about exciting times.

Like a lame horse coming last in every race in the last 10 years, Noggers are willing the lame horse to come third in its latest race.

Pol Pot would be envious of NZOG's ability to doctrinate its shareholders and keep them faithful.

Note : Kupe was found in 1986 and Tui in 2003.

[digger]

Noggers rejoice!


Note : Kupe was found in 1986 and Tui in 2003.


So every 17 years NZO find the big one. Rejoice for we are getting better and I am confident this matuku will break the 17 year drought down to only 10 years.
Also heard [or just made up] that the special sidetrack will be called BALANCE in special recognition for your continued and valued support of the company.

[Bella52]

So let me get this straight, you believe the world will be destroyed by Co2 and you hold shares in a hydrocarbon burning company? Apparently we were on the brink in 2000 so the situation must be critical now and apparently britain will never see snow again, surely given the urgency some examples of the only rational responses are to: halt oil exploration entirely, impose a massive tax on all non-essential air travel, and quadruple the cost of petrol. As for cap and trade, surely this should be just cap. And carbon neutral? Why not just tax the Co2 consumption out of existence and demand the sequestration anyway? You'll get carbon negation, apparently civilization depends on it.
Where are the Greens on this? Why aren't they declaring the German model that pushed household energy prices up 30 percent? They seem way more concerned about getting a 5 dollar discount on copper internet prices. And exactly why is Obama bragging constantly about his near energy independence when this is on the back of gas fracking?

Stu - (1) every company you can invest in uses Hydrocarbons, cement for dams and coal for the windturbines, (2) no one wants to point out that the US is reducing its carbon emmissions on the back of the frac gas. the US is doing the best job of reaching Kyoto targets and they didnt even sign up!

[spirit]

Digger - this is the link to the research that I referred:

http://www.sciencedaily.com/releases/2011/07/110725190044.htm

[Xerof]

the special sidetrack will be called BALANCE in special recognition for your continued and valued support of the company.

burp

plug and abandon

:D

[Balance]

So every 17 years NZO find the big one. Rejoice for we are getting better and I am confident this matuku will break the 17 year drought down to only 10 years.
Also heard [or just made up] that the special sidetrack will be called BALANCE in special recognition for your continued and valued support of the company.

My pleasure, Digger.

I pride myself on highlighting how great a company NZOG has been for the Noggers.

We should have a beer together sometimes and talk about the gas bottling plant being built at NZOG's PR office?

Rumour has it that a trillion cubic meter of BS gas comes out of there every month (mouth)?

:D

[skid]

Stu - (1) every company you can invest in uses Hydrocarbons, cement for dams and coal for the windturbines, (2) no one wants to point out that the US is reducing its carbon emmissions on the back of the frac gas. the US is doing the best job of reaching Kyoto targets and they didnt even sign up!

I find it very hard to believe your point#2--I believe that ,aside from China,the USA is a disaster for the environment and every shred of evidence that I have seen suggests that they really only care about themselves.
I would be very interested on your evidence backing your statement.

[brucey09]

Snrs.
I am believe sciences say world warming is in line with CFC and O3 levels no CO2. Gracias.

[skid]

So let me get this straight, you believe the world will be destroyed by Co2 and you hold shares in a hydrocarbon burning company? Apparently we were on the brink in 2000 so the situation must be critical now and apparently britain will never see snow again, surely given the urgency some examples of the only rational responses are to: halt oil exploration entirely, impose a massive tax on all non-essential air travel, and quadruple the cost of petrol. As for cap and trade, surely this should be just cap. And carbon neutral? Why not just tax the Co2 consumption out of existence and demand the sequestration anyway? You'll get carbon negation, apparently civilization depends on it.
Where are the Greens on this? Why aren't they declaring the German model that pushed household energy prices up 30 percent? They seem way more concerned about getting a 5 dollar discount on copper internet prices. And exactly why is Obama bragging constantly about his near energy independence when this is on the back of gas fracking?

Does your debate always have to use the opposite extreme to discourage those concerned about the environmental issues.
There is always middle ground.
The argument usually comes down to $$ in some form doesnt it.
Even though most of us have enough to satisfy the ability to fulfill our needs to live-we just cant quite get over wanting to increase that extra ''Party-entertainment money''---Its a tough subject and there are no easy answers and it seems that Greed will win out ,but I think its a bit of a cop out not to at least recognize what we are doing to our little home called Earth.
Everything requires energy(as you say)but I dont think many are thinking in those terms and that its a matter of degrees(pardon the pun)
Some things take much less energy than others.
Wouldnt it be great to be able to go down and buy a blender that you pay more for ,but know it is going to be cranking out smoothies when they are carrying you out in a box? I know i would--stuff those that are professionally trained to convince me that it is not sleek enough to satisfy my sense of fashion.
Is it really that much of a leap of human nature to organize 1 extension ladder for your whole street to chip in ,buy ,and share,etc ?
Gotta start somewhere and we might even get to know our neighbors down the street.
My point is ,it doesnt have to be a lost cause.



The irony is that possibly if we did live a bit simpler we might even be happier

[Monkey Poms]

Noggers rejoice!

After a decade of failing to find any new oil or gas field, because this dog don't hunt, Noggers still believe in the exploration team and management of NZOG!

All NZOG has to do is dangle an exploration carrot in front of Noggers and they get weak at the knees and start talking about exciting times.

Like a lame horse coming last in every race in the last 10 years, Noggers are willing the lame horse to come third in its latest race.

Pol Pot would be envious of NZOG's ability to doctrinate its shareholders and keep them faithful.

Note : Kupe was found in 1986 and Tui in 2003.

Balance.I will have a quiet word with the management.I really do feel that it is your turn next to stick the pin in the map to assertain where to drill the next well,you could not have any less luck.
Do not be tempted, the pin should be aimed at the MAP, not the directors.

MP

[skid]

Balance.I will have a quiet word with the management.I really do feel that it is your turn next to stick the pin in the map to assertain where to drill the next well,you could not have any less luck.
Do not be tempted, the pin should be aimed at the MAP, not the directors.

MP

Is a voodoo doll allowed:)

[Balance]

Balance.I will have a quiet word with the management.I really do feel that it is your turn next to stick the pin in the map to assertain where to drill the next well,you could not have any less luck.
Do not be tempted, the pin should be aimed at the MAP, not the directors.

MP

Now you have got it, MP.

That's how NZOG has been doing the equivalent of - sticking a pin on a map.

They would like you to think they do a lot of analytical and geo-petro-analysis but their track record in the last 10 years clearly support how you think they have been doing it.

Bravo, my friend!

[ziggy415]

Now you have got it, MP.

That's how NZOG has been doing the equivalent of - sticking a pin on a map.

They would like you to think they do a lot of analytical and geo-petro-analysis but their track record in the last 10 years clearly support how you think they have been doing it.

Bravo, my friend!

you can kid all you like but you guys and gals too must have shares in nzog....why else would you hang around this thread.....balance has been secretely driving the share price down so that he can scoop up a truck load at the right price....well done :B: but some of us can see a reverse psycology play a mile away..ho ho ho

[croesus]

ziggy..... that's not very impressive.

So in effect ..you are saying Balance... in berating the NZOG board for not having any moral fibre re Pike, is not doing it because he is indignant ( and rightly so in my book ) but actually to drive down the S/P of NZOG so he can profit by buying a lot cheaply then re selling for a profit.

Good one Champ...

[ziggy415]

ziggy..... that's not very impressive.

So in effect ..you are saying Balance... in berating the NZOG board for not having any moral fibre re Pike, is not doing it because he is indignant ( and rightly so in my book ) but actually to drive down the S/P of NZOG so he can profit by buying a lot cheaply then re selling for a profit.

Good one Champ...ooops sorry balance... got my nzo and nzo no pike threads mixed...never meant to belittle pike or your feelings over that tragedy.....Ziggy bending over and waiting for swift kick

[spirit]

Matuku is underway and what a great play. The best well I can think of for many a day, in fact has there been any better? But we still need those OMV boys to have got the depth conversions right and also that hydrocarbon has found a path through the underlying North Cape shale. However, everything considered, there is a heck of a lot that is very much right about this one.

[BigBob]

Matuku is underway and what a great play. The best well I can think of for many a day, in fact has there been any better? But we still need those OMV boys to have got the depth conversions right and also that hydrocarbon has found a path through the underlying North Cape shale. However, everything considered, there is a heck of a lot that is very much right about this one.

How dare you post something related to NZO on this thread...? This thread is for broken records and inane discussion about global warming only..!

[Cuzzie]

So every 17 years NZO find the big one. Rejoice for we are getting better and I am confident this matuku will break the 17 year drought down to only 10 years.
Also heard [or just made up] that the special sidetrack will be called BALANCE in special recognition for your continued and valued support of the company.
All good digger, but haven't these good old oil boys heard of the East Coast play yet?

[neopoleII]

anyone heard about the two suspended wells in Indonesia?
are the crew still on site? or left it?
is testing still happening?
is the rig still on site or gone?
a few weeks back nzo said that the signs and results were encouraging....
and now nothing else????

anyone know whats up?

sorry for the repetitive question marks

[Cuzzie]

I'll say it again, the East Coast Play - Hello people are you out there. MES - TAG- NZEC on the TSX. Three Canadian oil juniors about to rule the oil and gas scene over here. Do some home work, there is still time. I can not believe how excited North American investors are about the new fields opened up by two of these CAD juniors in Taranaki and all three CAD juniors on the East Coast. These guys have tied up the permits, the testing has been done, the profit taking is in play now, oh and the results, I'll leave that up to you to find out. Even Aussies are jumping all over it. What the hell, why are NZ investors not even talking about it?
Have any of you guys got the good oil on the East Coast play? There is time to check it out. I'd say the rest of 2013 at best.
Is there anybody even with knowledge on the East Coast oil fields?

[Balance]

you can kid all you like but you guys and gals too must have shares in nzog....why else would you hang around this thread.....balance has been secretely driving the share price down so that he can scoop up a truck load at the right price....well done :B: but some of us can see a reverse psycology play a mile away..ho ho ho

The sort of thing you obviously do - don't assume others are as devious as you.

Read the same rubbish from the likes of Bermuda etc on Pike River - after the explosion, they shut up.

In the end, they deluded themselves that Pike River was so well run, so highly desirable that competitors were writing bad about the company to drive the sp low to take it over. Doh!

[spirit]

Cuzzie - what are the oil fields to which you refer? I'm aware of the historic interest in oil and gas exploration on the East Coast and in fact my reference reports early oil production 1884-87 at 20-50 bopd but has there been anything since? Certainly nothing before my time in the area some 100 years later, but on recent discoveries could you advise. I did note while driving through Waipukurau last week that the local anti frac society was having its 6th or 7th meeting. So if future production is to be predicated on fracing then it's looking to not be an easy way forward, to say the least. The East Coast Play clearly hasn't been an easy one to crack for well over a hundred years but of the future who would know. My feeling is that the chance of any bonanza with normal oil or gas production has to be rather low and the need to frac to open up any oil shale play is problematic.

[spirit]

Matuku @ 45 days to TD and abandon:

http://www.energy-pedia.com/news/new-zealand/new-157131

Bounds to drilling time - say 10 days @ TD; ~days to F Sand Kiwi [10], Pateke [15], Amokura [20], therefore best guess is Matuku @ D Sand/F Sand say 3 weeks.

[Cuzzie]

Cuzzie - what are the oil fields to which you refer? I'm aware of the historic interest in oil and gas exploration on the East Coast and in fact my reference reports early oil production 1884-87 at 20-50 bopd but has there been anything since? Certainly nothing before my time in the area some 100 years later, but on recent discoveries could you advise. I did note while driving through Waipukurau last week that the local anti frac society was having its 6th or 7th meeting. So if future production is to be predicated on fracing then it's looking to not be an easy way forward, to say the least. The East Coast Play clearly hasn't been an easy one to crack for well over a hundred years but of the future who would know. My feeling is that the chance of any bonanza with normal oil or gas production has to be rather low and the need to frac to open up any oil shale play is problematic.
Here is a brief rundown on each one.
Tag Oil - TAG Oil controls 100% interest in nearly 1.5-million acres, representing the most significant position in the onshore area of the East Coast Basin. Independent estimates target the undiscovered conventional resource potential in TAG Oil's permits to be in excess of 1.7 billion barrels: When the unconventional resource potential is added to the potential resource, the future of the East Coast Basin becomes a vast opportunity. TAG have now opened an office over in the Bay.

NZEC - NZEC is among a small number of early entrants to the East Coast Basin and holds or has applied for three onshore permits totalling more than 2 million acres, with a 100% working interest in the East Cape, Castlepoint and Ranui permits and an 80% working interest in the Wairoa permit. Technical work to date suggests a total of 22.3 billion barrels of PIIP. An independent engineering firm has also issued a best estimate for 478 million barrels of prospective (recoverable) resource in unconventional targets using a conservative 2% recovery rate, and 126 million barrels of prospective resource in conventional targets using a 9% recovery rate.

MES - Marauder Resources East Coast Inc. engages in the exploration for and the production of petroleum and natural gas reserves primarily off the east coast of Canada. The company holds a 50% working interest in production licenses in the Panuke and Cohasset oil fields comprising 5506 hectares of mineral rights in the Panuke area of the Scotian Shelf, offshore Nova Scotia. It also holds interest in a permit covering 238,363 acres located in the East Coast Basin of New Zealand. The company is headquartered in Calgary, Canada.

digger is in the know and like me has shears on the TSX with the mentioned corps. above.

TAG & NZEC are doing well in Taranaki too. Got an email from NZEC with some solid results for their Taranaki wells. Here is a link to that - NZEC News. (http://www.newzealandenergy.com/News-and-Events/News-Releases/News-Releases-Details/2013/New-Zealand-Energy-Reactivates-Oil-Production-from-Six-Wells-on-Newly-Acquired-TWN-Licenses/default.aspx)
spirit I wouldn't worry at all about any anti frac society, they are just Greenies doing their best to stop fossil fuels period. They base their fears on first generation fracking practices that don't exist anymore. It was the waste water injected back into the void where the oil & gas came from that was dangerous, they don't do that now. In fact if you hydraulic fracture in earthquake prone areas, you sure up faults. I explain more if needed. So frack-on to stop earthquakes. Fracking clean-up companies are now employed to recycle and clean up the water.
Besides the latest techno in Fracking uses no water at all. This is something no Greeny in NZ would want anybody to know about because remember what I pointed out above, it's not the Fracking that they have a problem with, it's finding new fossil fuels. Check this waterless fracking company out: http://www.gasfrac.com/ Sort of a Green way to collect fossil fuels, I love it.

[skid]

Here is a brief rundown on each one.
Tag Oil - TAG Oil controls 100% interest in nearly 1.5-million acres, representing the most significant position in the onshore area of the East Coast Basin. Independent estimates target the undiscovered conventional resource potential in TAG Oil's permits to be in excess of 1.7 billion barrels: When the unconventional resource potential is added to the potential resource, the future of the East Coast Basin becomes a vast opportunity. TAG have now opened an office over in the Bay.

NZEC - NZEC is among a small number of early entrants to the East Coast Basin and holds or has applied for three onshore permits totalling more than 2 million acres, with a 100% working interest in the East Cape, Castlepoint and Ranui permits and an 80% working interest in the Wairoa permit. Technical work to date suggests a total of 22.3 billion barrels of PIIP. An independent engineering firm has also issued a best estimate for 478 million barrels of prospective (recoverable) resource in unconventional targets using a conservative 2% recovery rate, and 126 million barrels of prospective resource in conventional targets using a 9% recovery rate.

MES - Marauder Resources East Coast Inc. engages in the exploration for and the production of petroleum and natural gas reserves primarily off the east coast of Canada. The company holds a 50% working interest in production licenses in the Panuke and Cohasset oil fields comprising 5506 hectares of mineral rights in the Panuke area of the Scotian Shelf, offshore Nova Scotia. It also holds interest in a permit covering 238,363 acres located in the East Coast Basin of New Zealand. The company is headquartered in Calgary, Canada.

digger is in the know and like me has shears on the TSX with the mentioned corps. above.

TAG & NZEC are doing well in Taranaki too. Got an email from NZEC with some solid results for their Taranaki wells. Here is a link to that - NZEC News. (http://www.newzealandenergy.com/News-and-Events/News-Releases/News-Releases-Details/2013/New-Zealand-Energy-Reactivates-Oil-Production-from-Six-Wells-on-Newly-Acquired-TWN-Licenses/default.aspx)
spirit I wouldn't worry at all about any anti frac society, they are just Greenies doing their best to stop fossil fuels period. They base their fears on first generation fracking practices that don't exist anymore. It was the waste water injected back into the void where the oil & gas came from that was dangerous, they don't do that now. In fact if you hydraulic fracture in earthquake prone areas, you sure up faults. I explain more if needed. So frack-on to stop earthquakes. Fracking clean-up companies are now employed to recycle and clean up the water.
Besides the latest techno in Fracking uses no water at all. This is something no Greeny in NZ would want anybody to know about because remember what I pointed out above, it's not the Fracking that they have a problem with, it's finding new fossil fuels. Check this waterless fracking company out: http://www.gasfrac.com/ Sort of a Green way to collect fossil fuels, I love it.

Ive heard that the recovery rate of oil from fracking drops very quickly--comments?

[skid]

The word I like best about the whole presentation is --onshore

[Cuzzie]

Ive heard that the recovery rate of oil from fracking drops very quickly--comments? Fracking is evolving all the time and they are now getting smarter in a way that recovery rates are far better than previously. Different improved methods are happening all over the place. Here is one I like: https://oilandgas-investments.com/2013/oil-prices/fracking-technique-oil-sector/ It took me a while to find where I filed that one. Check it out as it is a simple idea.

[skid]

You may be right about the greens basing their info on outdated fracking methods-but with all due respect ,I think its a bit of a stretch to say its finding new fossil fuels they are against--I think they are more concerned with ''collateral damage''.
Cant really blame them for that.If the new gas system is as good as its cracked up to be then a green way to collect is great(as you say)
It may have never been developed if it had'nt been for some resistance to the old methods.
The ''miles deep'' off shore drilling is a different ball game IMHO ,profit or no profit

[Cuzzie]

The word I like best about the whole presentation is --onshore Oh yeah that's a bigger for me too. Watch out for the Greenies and their misinformation roll-out though.

[skid]

Thanks for the info --so which is your favorite among the outfits you listed?(seems like ages since the oil and gas sector had people fired up)

[spirit]

Thanks for that Cuzzie, but is the bottom line that the East Coast oil fields to which you previously referred in fact have not as yet been found? IN reference to your NZEC link I have always liked the uphole potential in the Mt Messenger formation in some of the Waihapa wells so you could be on to a good thing there.

[spirit]

Cuzzie maybe you could think of your greenies as part of the team, asking the hard questions and enforcing some additional due diligence on proceedings. Quite possibly they might be saving you some big $$$ down the line if by adopting higher safety standards you are precluding any future catastrophe.

[Cuzzie]

Thanks for the info --so which is your favorite among the outfits you listed?(seems like ages since the oil and gas sector had people fired up) Have a look at my post #13 here to answer that: http://www.sharetrader.co.nz/showthread.php?9444-Tsx

[Cuzzie]

Thanks for that Cuzzie, but is the bottom line that the East Coast oil fields to which you previously referred in fact have not as yet been found? IN reference to your NZEC link I have always liked the uphole potential in the Mt Messenger formation in some of the Waihapa wells so you could be on to a good thing there. Fact is they have, I'll let you do the research if your interested. Wont take too long to find the facts you need. Always better that way rather than being guided by somebody else. Mt Messenger is coming right.

[Cuzzie]

Cuzzie maybe you could think of your greenies as part of the team, asking the hard questions and enforcing some additional due diligence on proceedings. Quite possibly they might be saving you some big $$$ down the line if by adopting higher safety standards you are precluding any future catastrophe. You know I actually agree with what you say here. If it wasn't for the Greenies and a major water shortage near most of the big oil fields in North America, we would still be fracking with first generations practices. The Greenies have helped oil corps. successfully get more oil & gas out of the ground and with less costings. I'm loving that too.

[spirit]

Cuzzie are you saying that there have been discoveries but the trick will be in getting the resource out of the ground, rather like the tight sand accumulations in Taranaki eg Cardiff. Or are there some more traditional discoveries that are also in the pipeline?

[brucey09]

Cuzzie are you saying that there have been discoveries but the trick will be in getting the resource out of the ground, rather like the tight sand accumulations in Taranaki eg
Cardiff. Or are there some more traditional discoveries that are also in the pipeline?

Snrs.
East cape / Gisborne area appearing very very anti oil - as you say the road will be hard.

[Cuzzie]

Cuzzie are you saying that there have been discoveries but the trick will be in getting the resource out of the ground, rather like the tight sand accumulations in Taranaki eg Cardiff. Or are there some more traditional discoveries that are also in the pipeline? There's both conventional sands and unconventional oil shales within the East Coast basin. TAG released this news release way back in 2010. TAG News release (http://http://www.tagoil.com/20100330-Positive-Drill-Results-Further-Validate-TAGs-East-Coast.asp). Check out the video on that link too.
In the three years since, much has unfolded.

[Cuzzie]

Snrs.
East cape / Gisborne area appearing very very anti oil - as you say the road will be hard. Deals have been done and dusted with Iwi & Hapu, the NZ Govt. & land owners. Permits have all been signed and she is ready to Rock & Roll very soon. Could be before Xmas, but more than likely early next year. Anti oil is alive and kicking around Gisborne & further south for sure, but all the paper work is in place and there is no stopping this until 2018 at the very earliest.

[spirit]

Cuzzie, your link is broken.

[Cuzzie]

Cuzzie, your link is broken. Oops, try this one:
http://www.tagoil.com/20100330-Positive-Drill-Results-Further-Validate-TAGs-East-Coast.asp

[fabs]

How refreshing!
Back to the boring old oil & gas subject.
Wonder how long that lasts?

[Cuzzie]

Oops, try this one:
http://www.tagoil.com/20100330-Positive-Drill-Results-Further-Validate-TAGs-East-Coast.asp The Video link looks like it's disabled on that old page so try this one:
http://www.tagoil.com/video_waitangi2.htm

[Cuzzie]

How refreshing!
Back to the boring old oil & gas subject.
Wonder how long that lasts? Hopefully it's in for the long play.:)

[arjay]

How refreshing!
Back to the boring old oil & gas subject.
Wonder how long that lasts?

everyone's crooked,
they should all go to jail,
you're all morons,
it had nothing to do with me,
I warned you all,
your head's are in the sand
you, you, you .......mushrooms!

[Balance]

U missing me already, Arjay?

How considerate of you, matey.

Think I should buy a few NZOG shares just so I can join the Noggers Club?

[spirit]

Cuzzie I see some good stuff on your drilling on this link:

http://frackfreetairawhiti.org.nz/permits-consents/

IN particular, the Sproule Report: TECHNICAL ASSESSMENT OF THE UNDISCOVERED HYDROCARBON RESOURCE POTENTIAL OF PEP 38348 AND 38349, ONSHORE EAST COAST BASIN, NEW ZEALAND. Therefore, isn't it more correct to be referring to "undiscovered resource potential" at this stage, rather than "oil fields"? Waitangi Hill-2 as shown on the video clip for example basically appears to be core into the original 1885 producer at Waingaromia. I had one of my more memorable expeditions through this country and it was certainly beyond the black stump - very remote and isolated, so great country to be pursuing frontier exploration in.

[spirit]

Some early Noggers as recorded by Mrs Spirit:

https://db.tt/rZJ5AVYQ

Arjay in the white hat, Cuzzie in the crowd, Balance in the middle!

[1leon]

U missing me already, Arjay?

How considerate of you, matey.

Think I should buy a few NZOG shares just so I can join the Noggers Club?
Actually it strikes me that is exactly what you should do. Instead of just preaching to shareholders what their moral obligations are you could then show a moral lead as a shareholder and vote/pay according to your conscience.

[ziggy415]

everyone's crooked,
they should all go to jail,
you're all morons,
it had nothing to do with me,
I warned you all,
your head's are in the sand
you, you, you .......mushrooms!me thinks too many mushrooms already arjay

[Cuzzie]

Cuzzie I see some good stuff on your drilling on this link:

http://frackfreetairawhiti.org.nz/permits-consents/

IN particular, the Sproule Report: TECHNICAL ASSESSMENT OF THE UNDISCOVERED HYDROCARBON RESOURCE POTENTIAL OF PEP 38348 AND 38349, ONSHORE EAST COAST BASIN, NEW ZEALAND. Therefore, isn't it more correct to be referring to "undiscovered resource potential" at this stage, rather than "oil fields"? Waitangi Hill-2 as shown on the video clip for example basically appears to be core into the original 1885 producer at Waingaromia. I had one of my more memorable expeditions through this country and it was certainly beyond the black stump - very remote and isolated, so great country to be pursuing frontier exploration in. Your looking at negative websites against drilling on the East Coast Basin. The very fact that your there looking at things from that point of view, tells me exactly where you are coming from and where you and me are heading. I have no time for time wasters so spend your time on those who do. Oil fields they are and oil fields they will stay, with over 300 natural oil and gas seeps there is no hiding that fact. Up to now the technology has kept oil companies at bay, however as you very well know spirit the techno is well and truly developed. I'll tell you what I'll do spirit, I will do a, "told you so", on this post so we can look back in six months, 12 months and even five years if you are willing to put your name to it, because I am more than happy to do so. Post back and we will set it up.

[spirit]

Cuzzie, nothing like that at all. I merely did a google on Waitangi Hill [try it yourself] and this was one of the links. LO and behold it had some good stuff there, namely the well applications from TAG with an excellent resume by TAG as part of each application. There was also the link to the Sproule report. The Sproule report is industry standard, and is presumably the basis of the entire exploration push by TAG so I'm a bit lost as to what is your angst all about. The only point I would like to make is that in the usual jargon attributed to oil and gas exploration there is a substantial difference in the meaning between 'undiscovered hydrocarbon resource potential' and 'oil field'. I'm still unsure whether you are confusing the two terms or not.

[digger]

I started a thread called Marauder Resources which deals with the three East Coast Basin permits. At the time I wondered if I was the only Investor in this area. It very quickly became obvious that there was three of us. Cuzzie clearly has read all I have about this area and has also invested.
I invested in Marauder Resources as it has its permit between Tag to the north and NZ Energy to the south. If either one of these find commercial oil Marauder will win by location. Anyone interested look up the Marauder Resources thread as there is now plenty there to get started. Also a short comment about why NZO is not involved, which I feel is probably a mistake. Involvement here to my mind is far better than running off overseas and letting Canadian companies take over.

[spirit]

Digger, IGNS has a publication that you would find very informative, monograph 19: Cretaceous-Cenozoic Geology and Petroleum Systems of the East Coast Region, New Zealand [1997]. It is the bible for exploration in the region, just as mono 13 [1996] has been for the Taranaki Basin.

[Cuzzie]

Cuzzie, nothing like that at all. I merely did a google on Waitangi Hill [try it yourself] and this was one of the links. LO and behold it had some good stuff there, namely the well applications from TAG with an excellent resume by TAG as part of each application. There was also the link to the Sproule report. The Sproule report is industry standard, and is presumably the basis of the entire exploration push by TAG so I'm a bit lost as to what is your angst all about. The only point I would like to make is that in the usual jargon attributed to oil and gas exploration there is a substantial difference in the meaning between 'undiscovered hydrocarbon resource potential' and 'oil field'. I'm still unsure whether you are confusing the two terms or not.
Well then well and good, my mistake. Look I spent six months at up to eight hours a day looking at what is going down on the East Coast play. I looked as positively as I could then I'd put my wife's(hand brake) point of view into it and came out with a discussion. I don't really care what others think as I make a choice for me solely. All I can say is do the hard yards and if it is not for you, I don't have a problem with that, however with the magnitude of research that I have done and given my lack of patients towards negative comments, I will have my say. What I can say is the time spent looking at the East Coast play is an investment right there. digger has gone though the same process as me and has come up with the same result, so we are both idiots or not, time will tell but let it be said that I think digger is right up there with Albert Einstein.

[digger]

Well then well and good, my mistake. Look I spent six months at up to eight hours a day looking at what is going down on the East Coast play. I looked as positively as I could then I'd put my wife's(hand brake) point of view into it and came out with a discussion. I don't really care what others think as I make a choice for me solely. All I can say is do the hard yards and if it is not for you, I don't have a problem with that, however with the magnitude of research that I have done and given my lack of patients towards negative comments, I will have my say. What I can say is the time spent looking at the East Coast play is an investment right there. digger has gone though the same process as me and has come up with the same result, so we are both idiots or not, time will tell but let it be said that I think digger is right up there with Albert Einstein.

Well I do not think I am right up there with Albert Einstein nor does my wife who will not stop laughing. In fact the only person I know of who thinks I am quite smart is Balance and he will not admit it. So there you have it I am somewhere between Albert Einstein and a mushroom---probably closer to Balance,s version. Mrs Digger will you please stop laughing.

In the meantime I think the ECB is worth a look.

[spirit]

Digger and Cuzzie, yes I'm sure the ECB is worth a look. I've got a house there so would certainly appreciate the area taking off. Now did anyone like the picture - Early noggers @ Carrington Rd, New Plymouth 1905, studying natural gas flare in the local farmer's paddock.

[spirit]

My main concern with the ECB would be its comparative risk to fault breach relative to the Taranaki plays. I remember an early morning flight along the coast many years back when the light was striking the hills at just the right angle. Miles and miles of folds, ridge after ridge after ridge, were evident so I've always taken from that experience that the chances of finding big, traditional, undisturbed natural accumulations of hydrocarbon through the region must be severely compromised. For myself I much prefer the Taranaki Basin where faulting is quite ancient and more likely to be the basis of forming traps for hydrocarbon rather than as the cause of breach of any potential trap. My personal view only, but anyone living in the region would be well aware of the constant seismic activity and therefore of the ongoing process of faulting that must typify the local geology. In comparison as I say, Taranaki is benign in respect of seismic risk and the western platform is known as the stable western platform for that very reason - and that is where we find Matuku and with it the potential of finding some decent sized natural accumulation. Contrary to this the tight source rock plays of the ECB will quite possibly benefit from plenty of faulting when it comes down to getting on with the fracking. So I guess what I am saying is that I wouldn't be holding out too much hope for the traditional big discovery, and yes maybe fracking is going to open up a whole new play.

[Cuzzie]

Well I do not think I am right up there with Albert Einstein nor does my wife who will not stop laughing. In fact the only person I know of who thinks I am quite smart is Balance and he will not admit it. So there you have it I am somewhere between Albert Einstein and a mushroom---probably closer to Balance,s version. Mrs Digger will you please stop laughing.

In the meantime I think the ECB is worth a look. Ha ha, all good digger, I'm glad I made your wife laugh. Look you know, you don't have to be an Albert Einstein to see the potential with the East Coast Basin, but you will need to do plenty of research on this play to help make a discussion on this one. There is much detail to go through.

[digger]

My main concern with the ECB would be its comparative risk to fault breach relative to the Taranaki plays. I remember an early morning flight along the coast many years back when the light was striking the hills at just the right angle. Miles and miles of folds, ridge after ridge after ridge, were evident so I've always taken from that experience that the chances of finding big, traditional, undisturbed natural accumulations of hydrocarbon through the region must be severely compromised. For myself I much prefer the Taranaki Basin where faulting is quite ancient and more likely to be the basis of forming traps for hydrocarbon rather than as the cause of breach of any potential trap. My personal view only, but anyone living in the region would be well aware of the constant seismic activity and therefore of the ongoing process of faulting that must typify the local geology. In comparison as I say, Taranaki is benign in respect of seismic risk and the western platform is known as the stable western platform for that very reason - and that is where we find Matuku and with it the potential of finding some decent sized natural accumulation. Contrary to this the tight source rock plays of the ECB will quite possibly benefit from plenty of faulting when it comes down to getting on with the fracking. So I guess what I am saying is that I wouldn't be holding out too much hope for the traditional big discovery, and yes maybe fracking is going to open up a whole new play.

Yes Spirit I have read these comments several times before but one of my points is that in the total scheme of things the ECB stacks up well compared to other permits NZO looks at. Firstly it is here in your back yard not in Tunisia which seems to be in the centre of where the world is falling apart regardless of the ease of finding oil. Arjay did make a point that where there is seepage there can be no containment, but I feel a small punt that there is containment and it can be found is worth looking into. It strikes me a bit odd that three Canadian companies can separately see potential where we merely dismiss the possibility. What I have tried to read about the geology of the ECB quickly went over my head but I ended up with the belief that a small punt was better than missing out. Do not invest the farm on it.

[Cuzzie]

My main concern with the ECB would be its comparative risk to fault breach relative to the Taranaki plays. I remember an early morning flight along the coast many years back when the light was striking the hills at just the right angle. Miles and miles of folds, ridge after ridge after ridge, were evident so I've always taken from that experience that the chances of finding big, traditional, undisturbed natural accumulations of hydrocarbon through the region must be severely compromised. For myself I much prefer the Taranaki Basin where faulting is quite ancient and more likely to be the basis of forming traps for hydrocarbon rather than as the cause of breach of any potential trap. My personal view only, but anyone living in the region would be well aware of the constant seismic activity and therefore of the ongoing process of faulting that must typify the local geology. In comparison as I say, Taranaki is benign in respect of seismic risk and the western platform is known as the stable western platform for that very reason - and that is where we find Matuku and with it the potential of finding some decent sized natural accumulation. Contrary to this the tight source rock plays of the ECB will quite possibly benefit from plenty of faulting when it comes down to getting on with the fracking. So I guess what I am saying is that I wouldn't be holding out too much hope for the traditional big discovery, and yes maybe fracking is going to open up a whole new play. Oh yeah, the terrain is is a major obstacle in places, but not everywhere.
This is what NZEC say about the E.C:
"An unexplored region of vast resource potential, the basin's key attraction are enormous shale beds up to 600 metres thick, with 300 surface showings of oil and natural gas.
​The North Island’s East Coast Basin (http://newzealandenergy.com/files/images/EC_map1b_14Dec12.jpg)is an almost completely unexplored region with significant resource potential in sand and shale (http://newzealandenergy.com/Operations/East-Coast-Basin/Shale-Potential/default.aspx)targets. With 300 known oil or natural gas seeps, the region has intrigued explorers for more than a century. Of the 50 wells drilled to date in the basin, all have focused on the conventional miocene sands. NZEC hopes to be one of the first companies to drill an exploration well into the oil shales, with plans to drill two wells by year-end 2013.NZEC is among a small number of early entrants to the East Coast Basin and holds or has applied for three onshore permits totalling more than 2 million acres, with a 100% working interest in the East Cape, Castlepoint and Ranui permits and an 80% working interest in the Wairoa permit. Technical work to date suggests a total of 22.3 billion barrels of PIIP. An independent engineering firm has also issued a best estimate for 478 million barrels of prospective (recoverable) resource in unconventional targets using a conservative 2% recovery rate, and 126 million barrels of prospective resource in conventional targets using a 9% recovery rate.
About 50 wells have been drilled in the East Coast Basin over the decades and many logged oil or gas, but none yielded a commercial discovery. Previous exploratory drilling targeted structural highs, a traditional approach in conventional oil and natural gas exploration. Exploration activity in the region is accelerating. Current exploration is targeting a mix of stratigraphic/structural traps in the conventional reservoirs, using modern seismic to identify the target, and unconventional opportunities in shale formations (http://www.newzealandenergy.com/Operations/East-Coast-Basin/Shale-Potential/default.aspx)that are believed to be the source rocks for the basin’s entire hydrocarbon system."

So they know the oil is there but up to now they could not get to it. That is not the story anymore. spirit, don't forget the TAG & NZEC are both going great guns over in Taranaki too. They are both making an income over there and TAG has just announced that they have over CAD$70 million in the bank.

[spirit]

Digger and Cuzzie, yes I certainly agree with your sentiments and if I was maybe a few years younger, had some spare cash and preferably the players were listed on the NZX/ASX then I would probably be in there with you.

[ziggy415]

holly smoke where do you guys learn all this stuff..i hesitated to join up to this thread questioning its value but im learning so much....keep up the good job guys

[skid]

Yes its great stuff for the ole learning curve---just remember what they used to tell the trainees of the Scottish bomb squad--"you now know enough to get your self killed''

[brucey09]

Snrs.
My friend he is in Gisborne. He say East cape, Maori and Gisborne council seemly against dirty oil - thinking Petrobras+ to.

[Bella52]

so both these companies who you tout have seen their share price collapse, as they struggle to sell their dreams.

[arjay]

Snrs.
My friend he is in Gisborne. He say East cape, Maori and Gisborne council seemly against dirty oil - thinking Petrobras+ to.

This is my main concern over the ECB. When the general public find out that unlocking these reserves will require intensive fracking the level of opposition will be intense. It will take very large finds to make development palatable to govt.

[neopoleII]

quote""Of the 50 wells drilled to date in the basin""
and still no commercial oil recovery projects running.......
I might wait till 1 or 2 wells are commercial then start investing.
otherwise its very high risk stuff.
but........ none the less very interesting and huge potential.......
the question is.... when to invest.
or when to speculate .....
and that depends on your spare cash and risk / reward ratio.
NZO has had a bad run in a proven basin, and the east cost has had what?
50 odd wells and hundreds of seeps.
once one comes in there is lots of room for an investor to see "black"
just my opinion after many years of holding NZO and still carrying a lose with ALL this oil and gas being produced.

[Cuzzie]

Snrs.
My friend he is in Gisborne. He say East cape, Maori and Gisborne council seemly against dirty oil - thinking Petrobras+ to. The locale Iwi & Hapu are happy, the Gisborne council has a Greenie within their ranks making noises and dirty oil? It's a natural NZ resource the the Greenies call dirty. The permits are signed off, if they don't like it and you agree, I say tough tities as it's all too late.

[Cuzzie]

so both these companies who you tout have seen their share price collapse, as they struggle to sell their dreams. Go do some homework on the TSX and your then know why. One of the biggest problems with these three Canadian juniors not trading on the NZX or ASX is they go through the TSX where insider trading is out of control. I call them the "Good Old Boys" and you can't let them faze you. You need to understand how it works before you start trading. First rule is never ever panic because if you do, you just got your investment pick pocketed. You can go with the flow and profit take at the same time or just run with longs in mind. Normally you will see the price of NZEC & TAG drop after good news was released, called going against the grain for gain, which both just did and the stocks falls. Keep an eye on highs & lows for a period to pick up the pattern. The investors missing a ball or two sell, take the loss and move on and the Good Old Boys profit on their loss. Any negative news will naturally have the same outcome, but then out of the blue, up she rises. All three stocks are way undervalued because of inside trading and it is because of that very fact that caution on the investors part must be a major consideration. Up to you to be missing a ball or two, not investing, be a Good Old Boy or just be in for the long play. I'm running long.
Understand the TSX & you can sleep at night like me.

[Cuzzie]

This is my main concern over the ECB. When the general public find out that unlocking these reserves will require intensive fracking the level of opposition will be intense. It will take very large finds to make development palatable to govt. arjay, clearly you know nothing of fracking as of today's practices, otherwise you would not make such a mistake in your statement. My advice is to get up to speed - fast.

[Cuzzie]

quote""Of the 50 wells drilled to date in the basin""
and still no commercial oil recovery projects running.......
I might wait till 1 or 2 wells are commercial then start investing.
otherwise its very high risk stuff.
but........ none the less very interesting and huge potential.......
the question is.... when to invest.
or when to speculate .....
and that depends on your spare cash and risk / reward ratio.
NZO has had a bad run in a proven basin, and the east cost has had what?
50 odd wells and hundreds of seeps.
once one comes in there is lots of room for an investor to see "black"
just my opinion after many years of holding NZO and still carrying a lose with ALL this oil and gas being produced. Given what you have just said neopole11, your answer surely is wait until there is a commercial operation running - for you.

[Cuzzie]

Yes its great stuff for the ole learning curve---just remember what they used to tell the trainees of the Scottish bomb squad--"you now know enough to get your self killed'' And they did get killed, that is the ones that did not learn properly. Great message skid, learn, learn & learn some more. Yep there my be a Taliban bomb hidden under the road somewhere along any investment that will catch out even the smartest bomb squad member, that's investing, oh and being in the bomb squad. Is that not why we are all here? Minimize the risk & reek the rewards.

[Cuzzie]

Govt issues ten new oil and gas permits with 5 of those permits for onshore exploration in Taranaki and the East Coast.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11167439

[sideline]

The permits awarded were:
Permit Company Location
55781 Statoil Lambda Netherlands BV Offshore, Reinga-Northland
55793 Woodside Energy Holdings Pty Ltd & NZOG 2013 T Ltd Offshore, Taranaki
55794 Woodside Energy Holdings Pty Ltd & NZOG 2013 T Ltd Offshore, Great South Basin South-Canterbury
55792 NZOG Developments Ltd Offshore, Great South Basin South-Canterbury
55790 Octanex NZ Ltd Offshore, Taranaki
55768 AWE Holdings NZ Ltd & Mitsui E&P Australia Pty Ltd Onshore, Taranaki
55769 TAG Oil (NZ) Ltd Onshore, Taranaki
55770 Eastern Petroleum (NZ) Ltd & East West Petroleum (NZ) Ltd Onshore, East Coast
55784 Petrochem Ltd Onshore, Taranaki
55789 Mont D’Or Petroleum Resources Ltd Onshore, East Coast

[arjay]

arjay, clearly you know nothing of fracking as of today's practices, otherwise you would not make such a mistake in your statement. My advice is to get up to speed - fast.

That's the point Cuzzie - the great unwashed public know nothing of fracking except all the negative stuff that is provoking an active opposition worldwide. Doesn't matter how informed posters are on this site, - the masses (read voters) are not likley to educate themselves about the realities of modern techniques. It will require some large finds for the percieved benefits to be seen as outweighing the percieved negatives.

Neopole - I also wondered about all those 50 wells already drilled and am particularly wary after they made those two gas discoveries near Wairoa in the 90's that were going to transform the local economy. As Cuzzie says - DYOR

[digger]

Cuzzie,
Take a tip from my thinking mood swings---this one from the Albert Einstein end. You have just made many posting here on the NZO thread.. In fact 6 in a row. The clear impression I am receiving from your comments is that you seem to be under the illusion that you have to convince other posters that investing in the ECB is a must .Relax , you and I have made our decision, committed our money and that is that. We have done our little bit to inform other investors of the possible potential of the ECB ,now it is up to them. In no way do they need to be converted ahead of the final drills to come on board for it to be in the end a top investment. That is my A E thought for today.

Balance will you please come in. Calling Balance. My head is expanding and I need a few mushroom calls from you to get things back in perspective.

[neopoleII]

this ad came up on metservice....
http://www.energyandcapital.com/aqx_p/46496?gclid=CI_c5MSImLsCFUhxQgodS2IAJg
""huge shale oil discovery "" is the catch phrase

[croesus]

Slightly off topic... tho it is NZ Oil and Gas... in as much as Oil and Gas in NZ... AOR ( Formerly Widespread ) are involved in definitely drilling 2 onshore wells this summer, on the West Coast in a area known for Oil Seeps ( been noted for over a century ).

[digger]

this ad came up on metservice....
http://www.energyandcapital.com/aqx_p/46496?gclid=CI_c5MSImLsCFUhxQgodS2IAJg
""huge shale oil discovery "" is the catch phrase

I have given them my email address and got the rest of the story a few days ago. If you do as well prepare for a laugh or two. The first seep occurred just a few years ago according to the piece. That is about a 150 years on the late side as we Europeans know it, the first humans to NZ probably saw it a 1000 years before that. Still I thought not toooo bad for Americans.

[arjay]

Slightly off topic... tho it is NZ Oil and Gas... in as much as Oil and Gas in NZ... AOR ( Formerly Widespread ) are involved in definitely drilling 2 onshore wells this summer, on the West Coast in a area known for Oil Seeps ( been noted for over a century ).

Interesting - old timers will recall NZO doing lots of drilling around the Lake Brunner oil seeps area in the pre-Kupe discovery days. Around four years ago one of the regular NZO posters started up a company to carry on exploration in the same area (who was that...... Gregorious perhaps?). They were beaten to the permit tho so did something else instead. Wonder if AOR is the crowd that got the permit?

[Cuzzie]

Cuzzie,
Take a tip from my thinking mood swings---this one from the Albert Einstein end. You have just made many posting here on the NZO thread.. In fact 6 in a row. The clear impression I am receiving from your comments is that you seem to be under the illusion that you have to convince other posters that investing in the ECB is a must .Relax , you and I have made our decision, committed our money and that is that. We have done our little bit to inform other investors of the possible potential of the ECB ,now it is up to them. In no way do they need to be converted ahead of the final drills to come on board for it to be in the end a top investment. That is my A E thought for today.

Balance will you please come in. Calling Balance. My head is expanding and I need a few mushroom calls from you to get things back in perspective. digger, your sounding more like an agony aunt than Albert Einstein now. Five in a row answering posts catching up after I got home last night and one this morning. All talking about oil too, unlike your one guiding me to think like you. That aint going to happen any time real soon. That's mushroom foda right there.
Back to subject, East West Petroleum has close ties with TAG so no surprises there, but this is the first I've heard of Mont D’Or Petroleum Resources making a play on the E.C too. Interesting. TAG has plenty partner offers off late, looks like there more competition for permits on-shore & off-shore for both Islands now. Most certainly heating up.

[ziggy415]

octanex buys matuku permit...flicks off 65% to omv to do seizmic 3d and drill first well..then sell 12.5% to nzog ...with option to get nother 5% if it pays for second well ....octanex gets free ride with no cost other than permit ( nice to Know how much for permit) why cant government do this to all their permits..got to be more beneficial surely

[fabs]

octanex buys matuku permit...flicks off 65% to omv to do seizmic 3d and drill first well..then sell 12.5% to nzog ...with option to get nother 5% if it pays for second well ....octanex gets free ride with no cost other than permit ( nice to Know how much for permit) why cant government do this to all their permits..got to be more beneficial surely


OR -NZO?
Free ride octanex for the same 17%

[spirit]

Ziggy, that was sort of what Petrocorp was all about.

[spirit]

Fabs, NZO had Matuku back in 2008 but the story behind Matuku wasn't a goer at that point in time, just as SBPT originally found the Matuku lead back in the early 1990's and then went no further. But new information is always emerging and OXX picked up on Matuku and turned it into the story we have before us today.

[Cuzzie]

Analyse this: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11168419 (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11168419) The Natural gas price slipping is not negative news in the big picture. Sorry spirit & fabs I did not mean to break up you conversation. Analyse it anyway and then carry on.

[brucey09]

Analyse this: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11168419 (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11168419) The Natural gas price slipping is not negative news in the big picture. Sorry spirit & fabs I did not mean to break up you conversation. Analyse it anyway and then carry on.


Snr. Cuzzie
Your barrow pushing too hard.

[zigzag]

Check out the oil rig on the Whale Oil blog. Also has a photo of Greenpeace ship filling up with diesel from a BP truck/tanker. If I was BP I'd put a few extra additives in with the diesel i.e. sugar and sand.

[spirit]

Octanex N.L. has been advised by OMV New Zealand Limited, the Operator of the Matuku-1 exploration well being drilled in the offshore Taranaki Basin permit PEP 51906, that at 06:00 hours (NZST) on Tuesday, 10 December 2013, the well was at a depth of 1500m MDRT (measured depth below rotary table) and preparing for the drilling of the 12¼" hole.


Since the well spudded on 30 November 2013, the 30" conductor has been set to 214m MDRT, the 16" hole drilled to the 1500m MDRT current depth and the 13⅜" intermediate casing string run and cemented in.


Planned operations over the coming week are to install the blow-out preventers (BOP) and marine riser and carry out function and pressure testing of the BOP and leak-off-tests prior to drilling the 12¼" hole to the next casing point at 3407m MDRT.

[neopoleII]

you would think that NZO could say something regarding the two indo wells?
its not hard to say...... we are still evaluating...... the drill rig crew has left the site....... work is still going on.....

not too good for a listed public company.

im sure the indo regulator wouldnt mind if the disclosure of the drill rig crew being onsite or not is of high value information.
but it would be of serious interest to NZOs shareholders.

[sideline]

.......

im sure the indo regulator wouldnt mind if the disclosure of the drill rig crew being onsite or not is of high value information.
but it would be of serious interest to NZOs shareholders.

I think the indonesians have some strict rules around that - nothing can be announced to the market without their prior approval.

[digger]

I think the indonesians have some strict rules around that - nothing can be announced to the market without their prior approval.

Exactly as I have always read it Sideline. Going to other countries always brings us under different rules that we find hard to understand,but like it or lumb it that is how it is,but I do agree with the idea expressed by neopole11

[Balance]

I think the indonesians have some strict rules around that - nothing can be announced to the market without their prior approval.

Anyone of you bother checking what the rules are?

Do a google search only will give you some interesting information!

[Balance]

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11171336

Each charge faced a maximum penalty of $250,000. Imprisonment of Whittall was not an available option.

Fines were also dependent on a defendant's ability to pay.

[spirit]

Where to now:

http://www.scoop.co.nz/stories/PO1312/S00196/new-oil-drilling-regulations-totally-inadequate.htm

[sideline]

Where to now:

http://www.scoop.co.nz/stories/PO1312/S00196/new-oil-drilling-regulations-totally-inadequate.htm

Environmental Defence Society - isn't that mainly just Gary Taylor himself? Never heard about anyone else from that outfit!

[ziggy415]

Octanex N.L. has been advised by OMV New Zealand Limited, the Operator of the Matuku-1 exploration well being drilled in the offshore Taranaki Basin permit PEP 51906, that at 06:00 hours (NZST) on Tuesday, 10 December 2013, the well was at a depth of 1500m MDRT (measured depth below rotary table) and preparing for the drilling of the 12¼" hole.


Since the well spudded on 30 November 2013, the 30" conductor has been set to 214m MDRT, the 16" hole drilled to the 1500m MDRT current depth and the 13⅜" intermediate casing string run and cemented in.


Planned operations over the coming week are to install the blow-out preventers (BOP) and marine riser and carry out function and pressure testing of the BOP and leak-off-tests prior to drilling the 12¼" hole to the next casing point at 3407m MDRT.

no info with kisaran and now this...i thought it was a matter of drilling a hole and bobs your uncle interesting learning spirit..do they always install blow out preventers

[ziggy415]

no info with kisaran and now this...i thought it was a matter of drilling a hole and bobs your uncle interesting learning spirit..do they always install blow out preventers

and all this just to plug and abandon

[spirit]

Ziggy, good question and I don't really know. They seem to have drilled the first 1500m without the BOP so I'm wondering what's the criteria for when you do and when you don't. I thought they often found gas hydrate in the upper layers in the basin and would have thought some BOP control might be desirable, so maybe someone else has got the answer.

[digger]

Ziggy, good question and I don't really know. They seem to have drilled the first 1500m without the BOP so I'm wondering what's the criteria for when you do and when you don't. I thought they often found gas hydrate in the upper layers in the basin and would have thought some BOP control might be desirable, so maybe someone else has got the answer.

Maybe after the Deep Water Horizon it is just a very good idea-- an ounce of prevention sort of thing. In fact after the that DWH spill the cost of cleanup did more to wake up drillers than any regulations every will. So without the DWH mess we drillers would have just got slacker until down the track a mess did occur.

[croesus]

Some tipsheet called "Energy and Capital".... is apparently marketing itself... with a tip on 2 NZ companies ready to cash in on the coming Shale Bonanza in the East Coast Basin....

Does any one have any knowledge of this Tip Sheet, recommend it or not ?

Apparently they are also doing research in Oil seeps in the top of the South Island.... but the only company I know drilling is AOR .. formerly Widespread.

Thanks in advance.

[croesus]

correction....Drilling is the wrong word I understand AOR is partnered with a company which hopes to drill early in the new year.

[spirit]

Croesus, I took up the offer of their special report on the impending NZ Oil Shale bonanza several months back. Since then my INbox has been daily subjected to additional marketing. I usually don't look beyond the titles but the basic tone seems to be of the next big winner. I guess since they are tipping at such frequency they must occasionally get one right.

[Cuzzie]

Some tipsheet called "Energy and Capital".... is apparently marketing itself... with a tip on 2 NZ companies ready to cash in on the coming Shale Bonanza in the East Coast Basin....

Does any one have any knowledge of this Tip Sheet, recommend it or not ?

Apparently they are also doing research in Oil seeps in the top of the South Island.... but the only company I know drilling is AOR .. formerly Widespread.

Thanks in advance.The three(not two) companies are TAG Oil, NZEC and Marauder Resources East Coast Inc, but shhhh your not allowed to talk about them here. digger might give you some info about them or go onto http://www.stockhouse.com/ for the good oil from investors that have taken the plunge. I have stocks in NZEC & MES. Tip, on the MES Stockhouse thread, just ignore anything richardsmith says, your work out why sooner or later or MrBeanburger, who posts on here and Stockhouse might fill you in on that one. I've been accused to pushing this too hard so on the strength of that, do your own homework, but don't procrastinate too much.

[brucey09]

The three(not two) companies are TAG Oil, NZEC and Marauder Resources East Coast Inc, but shhhh your not allowed to talk about them here. digger might give you some info about them or go onto http://www.stockhouse.com/ for the good oil from investors that have taken the plunge. I have stocks in NZEC & MES. Tip, on the MES Stockhouse thread, just ignore anything richardsmith says, your work out why sooner or later or MrBeanburger, who posts on here and Stockhouse might fill you in on that one. I've been accused to pushing this too hard so on the strength of that, do your own homework, but don't procrastinate too much.

Snr. Cuzzie
Taking Tag et al to new thread, gracias.

[Cuzzie]

Snr. Cuzzie
Taking Tag et al to new thread, gracias. brucey09, this is just for you:East Coast Oil -TAG Oil - NZEC -MES (http://www.sharetrader.co.nz/showthread.php?9507-East-Coast-Oil-TAG-Oil-NZEC-MES)

[spirit]

Matuku maybe very close to primary target over Xmas closedown and nice little SP lift @ close today.

[digger]

Matuku maybe very close to primary target over Xmas closedown and nice little SP lift @ close today.

Spirit,while the idea of Christmas lifts the Spirit[small pun] I have long had the thought that santa should be plugged and abandon. However if Matuku comes in on or about Christmas day my non belief will be truly shaken.In the meantime I feel we should all put success at no more than 1 in 10.
Cheers

[spirit]

Ho ho Digger, the sleigh bells will certainly tinkle if Matuku restores your Xmas spirit. So then it will be Rudolph, Dasher, Dancer, Prancer, Vixen, Comet, Cupid, Donder, Blitzen and now Digger as the 10th reindeer all pulling on Santa's sleigh. Truly Digger that's about the only connection to 1 in 10 for Matuku that I can see this side of the Xmas cheer.

[spirit]

Digger, here's what the JV has said on risk. No specific COS has been given but they certainly have stated it as being low risk:

'The studies undertaken by OMV indicate that the Matuku prospect is robust. It has a perceived low risk associated with the existence of the structure, presence of suitable reservoir rock and adequacy of seal. OMV’s basin modelling studies suggest the presence of a substantial source kitchen within the Kahurangi Trough (to the immediate west of the prospect) that is mature for the generation of oil.

[spirit]

Moosie, none immediately come to mind. In the later times there have been quite a few that came with high hopes [Hochstetter, Tui, Pukeko for example] but can't say that they could have been assigned as low risk ahead of the drill. It's hard to say in hindsight but maybe Hochstetter was more theory, mixed in with those bitumen samples off the sea floor; Tui had great theory, but actually missed on all the main points and came in with the surprise oil discovery in the F Sand; Pukeko was hopeful of charge out of a Tui-like kitchen but got nothing much in the main D Sand and was saved somewhat by a small discovery in the F sand. The only thing I can really say is that personally Matuku has stood out from the crowd and simply makes out with an exceptional story. So yes, it certainly earns that 'low risk' rating in my book. After completing my due diligence my COS came in at near enough to 2 in 3.

[spirit]

Kupe South as a stepout from Kupe must have had a heck of a lot going for it, so maybe up there with Matuku.

[digger]

2 in 3 chances is asking for certain trouble. I will leave it at 1 in 10 just to avoid disappointment but quietly hope for your outcome. Also I remember well all those past drills you mentioned. Was Kupe South not called Momoho or something like that.

Now here is a puzzle for me. If Matuku-1 comes in Octanex or Nzog can require NZOG to buy off Octanex another 5% which would equalise each company at 17.5%. Now if Matuku is successful it is easy to see why NZOG would want the additional 5% but why would Octanex also want to require NZOG to buy it. To me this is messey. It depends on a degree of success. I find this sort of arrangement difficult to understand. PPP is doing the same thing with OI. Why not just make the arrangement it the first instance.

[spirit]

I see they are at just beyond 1500m now and drilling ahead so maybe @ primary target now a little later than Xmas.

[spirit]

Momoho 1[2008]:The well, drilled to a depth of 3,145m RT, discovered a small gas condensate pool within thin good quality sandstones of the Palaeocene Farewell Formation. The presence of hydrocarbons was confirmed by wireline logging and pressure and fluid sampling.


Given the presence of gas condensate at Momoho 1, gas nearby at Kupe South 4 (2.5 km to the northeast) and oil at Kupe South 5 (1.2 km to the south), potential is considered to remain for hydrocarbons to be trapped in a large closure on the northeastern,downthrown, side of the bounding fault of the Momoho structure. This will be further evaluated.

[Balance]

Momoho 1[2008]:The well, drilled to a depth of 3,145m RT, discovered a small gas condensate pool within thin good quality sandstones of the Palaeocene Farewell Formation. The presence of hydrocarbons was confirmed by wireline logging and pressure and fluid sampling.


Given the presence of gas condensate at Momoho 1, gas nearby at Kupe South 4 (2.5 km to the northeast) and oil at Kupe South 5 (1.2 km to the south), potential is considered to remain for hydrocarbons to be trapped in a large closure on the northeastern,downthrown, side of the bounding fault of the Momoho structure. This will be further evaluated.


Keep them keen.

Same old, same old trick of 'big discovery just around the corner'.

Haha - oldest trick in the book to hook them lazy greed driven fishes.

[spirit]

Octanex has been advised by OMV New Zealand Limited, the Operator of the Matuku-1 exploration well being drilled in the offshore Taranaki Basin permit PEP 51906, that at 06:00 hours (NZST) on Tuesday, 17 December 2013, the well was at a depth of 2002m MDRT (measured depth below rotary table) and drilling ahead in the 12¼" hole.


Planned operations over the coming week are to complete drilling of the 12¼" hole section and then run and cement in the 9⅝" casing string prior to drilling the 8½ʺ hole.

Matuku-1 is programmed as a vertical well that is being drilled by the Kan Tan IV semi-submersible rig in water depths of approximately 130m. Dependent upon the results while intersecting the zones of interest (as detailed below), the well will be drilled to a potential total depth (TD) of approximately 4750m MDRT.

[ziggy415]

Keep them keen.

Same old, same old trick of 'big discovery just around the corner'.

Haha - oldest trick in the book to hook them lazy greed driven fishes.

geez balance where,s that glass half full kinda guy we,ve all come to know and love

[ziggy415]

dont want to pre empt anything but if matuku is full whats it going to cost to get at it....well platforms dont come cheap..or can they hook up to another off take unit

[arjay]

geez balance where,s that glass half full kinda guy we,ve all come to know and love

If you don't want to see the genie - don't rub the lamp.

[skid]

geez balance where,s that glass half full kinda guy we,ve all come to know and love

On the NZO thread? Mate you gotta be joking..

[Tyro]

If you don't want to see the genie - don't rub the lamp.

Here here!

[Hawkeye]

https://www.nzx.com/companies/NZO/announcements/245607

apologies if anyone has issues with me just posting the link, I generally have little else to say and are just keeping you informed

[BigBob]

"New Zealand Oil & Gas chief executive Andrew Knight says South Sumatra is a prolific oil province."

As if that's going to make NZO's horrendous track record better...

The only relevant track record here is from Indonesia, which is arguably 2 from 2....

[neopoleII]

""which is arguably 2 from 2.... "

2 what but? suspended wells that might or might not be economic.
to me it seems they are 2 forgotten wells.
so with no news good or bad the board has decided to do it all again!!

whats wrong with a bit of onshore drilling in NZ?
it seems that the big blind whale hunt is still in full swing.... TR taught his disciples well.

[the machine]

well nzo going again with another permit in Indonesia

M

[fabs]

well nzo going again with another permit in Indonesia

M

No worries every now and then they announce how and what they will do in 2-3- 4 or more years.
Bright future for this Co.
Trouble is most S/H have been living day to day in the present, for at least the last ten years
with that sort of carrots dangling in front of them.

[digger]

""which is arguably 2 from 2.... "

2 what but? suspended wells that might or might not be economic.
to me it seems they are 2 forgotten wells.
so with no news good or bad the board has decided to do it all again!!

whats wrong with a bit of onshore drilling in NZ?
it seems that the big blind whale hunt is still in full swing.... TR taught his disciples well.

Starting off on the positive side ,Neopole11, I do very much agree with your second point that we should look harder at drilling onshore NZ. But I have said it many times before so no need to repeat.


The fact that the company is prepared to invest again in Indonesia confirms for me what I read between the lines at the Auckland AGM... Clearly the company expects to make some gains from the Indonesia investment even if it will never be a company maker. Also is positive that the company is accepting of the way Indonesia does business. My money will be on production start up by end of 2014. That is just my mushroom guess and does not come from any hints received.

Just another point I would like to make is that countries that have in the past shut up shop for international investors may be in the middle of a rethink. Look at Mexico after about 45 years of no outside investments are having to turn to international companies as they can not from ability and equipment keep the oil flowing.
Merry Christmas to all posters.

[spirit]

Only 300m in 5 days and schedule set back a week or thereabouts, but no explanation provided:

Octanex has been advised by OMV New Zealand Limited, the Operator of the Matuku-1 exploration well being drilled in the offshore Taranaki Basin permit PEP 51906, that at 06:00 hours (NZST) on Tuesday, 24 December 2013, the well was at a depth of 3167m MDRT (measured depth below rotary table) and preparing to drill ahead in the 12¼" hole.

Planned operations over the coming week are to complete the 12¼" hole section, run and cement in the 9⅝" casing string and then carry out a leak-off test prior to drilling the 8½ʺ hole through the zones of interest (as detailed below).

[ziggy415]

And were surprised by this lack of communication? Merry Xmas to NZP holders I guess...

the wheels of the oil industry sure do turn slowly but if its quick returns your after...try the casino...patience will be rewarded....2014 is the year.....sounds like a tui add but

[Cuzzie]

the wheels of the oil industry sure do turn slowly but if its quick returns your after...try the casino...patience will be rewarded....2014 is the year.....sounds like a tui add but 2014 is the year, I agree. GLTA.

[ziggy415]

No worries every now and then they announce how and what they will do in 2-3- 4 or more years.
Bright future for this Co.
Trouble is most S/H have been living day to day in the present, for at least the last ten years
with that sort of carrots dangling in front of them.

cant help but feel that just maybe nzo is finally trying to create s/h wealth....kisaran will be ok but not a goldmine..pateke is a given all be it only 2 million barrels...oi will be a game changer for tui but bit more iffy with 10 t0 15 million barrels.. and matuku looking good...throw in kaheru next year and things do look better

[ziggy415]

cant help but feel that just maybe nzo is finally trying to create s/h wealth....kisaran will be ok but not a goldmine..pateke is a given all be it only 2 million barrels...oi will be a game changer for tui but bit more iffy with 10 t0 15 million barrels.. and matuku looking good...throw in kaheru next year and things do look better

octanex gets 12 million dollars for nzo share of matuku and shareholders are told to get excited yet nzo has got 160 million dollars cash and we all forget about it

[digger]

Hi Spirit,

What is your take on Matuku now that we are at 3417 metres and no comment on Primary target which we sure should have pasted by now. The market says it is bad news and we have some selloff today ,but I can not work out if this is nerves or some inside info. We seem to be a little short of information to go on. Firstly it seems they have not yet done any testing or given any indications when they might.
Tooo much in the dark here and wondered if you could shed a little light by given your thoughts. Also your thoughts on last weeks report about needing a sidetrack as some rubbish was at the bottom of the drill. Sounds like a made up story to call for time.

[arjay]

wonder what they found in the Tikorangi?

[fabs]

Expect another year of the usual and predictable spin.
Too busy milking the co.
Do not but dream of anything else, by that totally bereft of any ideas or skills management.
Most investors have given up on them long ago, surprised that the S/P is still high, maybe some unrealistic expectation they get reckless and return some of the Surplus to requirement funds.
Seems a total waste those millions laying idle and at there disposal.

[Sideshow Bob]

Couple of articles in the ODT today, for this region:

Local runanga supportive of gas exploration off North otago:

http://www.odt.co.nz/regions/north-otago/287430/runanga-supports-offshore-exploration-oil-and-gas

Shell drilling Great Southern Basin:

http://www.odt.co.nz/news/dunedin/287497/oil-companies-drill-dunedin-coast

[spirit]

Hi Digger

There hasn't been much going on on this thread so I have been posting my thoughts on HotCopper under the OXX forum.

Basically, it seems to me that they may have found fractured limestone in the Tikorangi interval. The ramifications of this could be quite huge, so yes it is all looking good to me.

C Sand in a day or so, then D Sand and onto F Sand at about 3900m or thereabouts. Check the forum, it's all there.

Spirit/steve

[digger]

Hi Digger

There hasn't been much going on on this thread so I have been posting my thoughts on HotCopper under the OXX forum.

Basically, it seems to me that they may have found fractured limestone in the Tikorangi interval. The ramifications of this could be quite huge, so yes it is all looking good to me.

C Sand in a day or so, then D Sand and onto F Sand at about 3900m or thereabouts. Check the forum, it's all there.

Spirit/steve


Thanks for that Spirit.
I have rang the wellington office trying to get a hold of Sam Bowler to see if we can get a bit more info into there new releases. So far he is at meeting so for now nothing.
Last weeks comments that some rock was loose at the bottom of the drill requiring a side track I took that to possible give indications that the area was fractured which will be good for oil flows if oil is there. So we wait now for next weeks release.
Cheers.

[ziggy415]

i see octanex share price has gained 20%this year...volumes low but getting bigger each day

[pietrade]

definitely a better play than NZO then, heard nothing but good stuff about management, unlike their partners...

...and OXX are absolutely miles ahead of NZO with their detailed announcements. providing heaps of information, charts etc
It's great to feel that the management actually wants to include shareholders in the picture (literally) rather than leave us speculating.

May 2014 be a cracker year for us all.

[JBmurc]

definitely a better play than NZO then, heard nothing but good stuff about management, unlike their partners...

well unless you talk to me ...but I do hope it all goes well and was keen on buying back into the OXXCB but unlikely to happen before what is know on the NZ drill hopefully much better than the last many duds OXX has had

[spirit]

What's up here:

New Zealand Oil & Gas has been advised that Zero Commission NZ Limited intends to make an unsolicited offer to some shareholders offering to buy NZ Oil & Gas shares for NZ74 cents per share.

The price offered of NZ 74 cents per share is a discount to the current market price of New Zealand Oil & Gas shares.


The market price of New Zealand Oil & Gas shares on the NZX was NZ83.5 cents per share at the close of trading on Friday, 10 January 2014. New Zealand Oil & Gas recommends shareholders seek independent advice and check the most recent NZX price for shares.


Chief Executive Andrew Knight says New Zealand Oil & Gas has an exciting exploration program.

“The company is currently involved in drilling at Matuku, with further offshore Taranaki wells to follow at Oi and Pateke, within the producing Tui permit. A further well at Kaheru is scheduled for next summer. We have new exploration permits off Canterbury and new partnerships that will help the company generate attractive returns and provide the opportunity for growth.

[Casino]

What's up here:

New Zealand Oil & Gas has been advised that Zero Commission NZ Limited intends to make an unsolicited offer to some shareholders offering to buy NZ Oil & Gas shares for NZ74 cents per share.

The price offered of NZ 74 cents per share is a discount to the current market price of New Zealand Oil & Gas shares.


The market price of New Zealand Oil & Gas shares on the NZX was NZ83.5 cents per share at the close of trading on Friday, 10 January 2014. New Zealand Oil & Gas recommends shareholders seek independent advice and check the most recent NZX price for shares.


Chief Executive Andrew Knight says New Zealand Oil & Gas has an exciting exploration program.

“The company is currently involved in drilling at Matuku, with further offshore Taranaki wells to follow at Oi and Pateke, within the producing Tui permit. A further well at Kaheru is scheduled for next summer. We have new exploration permits off Canterbury and new partnerships that will help the company generate attractive returns and provide the opportunity for growth.


Bunch of clowns... https://www.nzx.com/companies/SEA/announcements/237020

Spirit, would you expect to be below 4000m by tomorrow?

[arjay]

Possibly not such a silly bunch of clowns. There are will be a few out there thinking "Hmmmm, I should really sell those NZO shares I've been hanging on to for decades but can't be bothered just now ". This sort of proposition will snag a few of them.

[Goldstein]

What's up here:

New Zealand Oil & Gas has been advised that Zero Commission NZ Limited intends to make an unsolicited offer to some shareholders offering to buy NZ Oil & Gas shares for NZ74 cents per share.

The price offered of NZ 74 cents per share is a discount to the current market price of New Zealand Oil & Gas shares.


The market price of New Zealand Oil & Gas shares on the NZX was NZ83.5 cents per share at the close of trading on Friday, 10 January 2014. New Zealand Oil & Gas recommends shareholders seek independent advice and check the most recent NZX price for shares.


Chief Executive Andrew Knight says New Zealand Oil & Gas has an exciting exploration program.

“The company is currently involved in drilling at Matuku, with further offshore Taranaki wells to follow at Oi and Pateke, within the producing Tui permit. A further well at Kaheru is scheduled for next summer. We have new exploration permits off Canterbury and new partnerships that will help the company generate attractive returns and provide the opportunity for growth.


Love the name. "Zero Commision NZ Ltd". We'll just take your shares off you for a 10% discount.

[fabs]

Possibly not such a silly bunch of clowns. There are will be a few out there thinking "Hmmmm, I should really sell those NZO shares I've been hanging on to for decades but can't be bothered just now ". This sort of proposition will snag a few of them.

May not far off if Matuku fails????

[blackcap]

Happens all the time (called low-balling). easy money if you manage to hook some fish. Previous targets include SEA, HNZ, FBU etc. They better sell 'em fast though if that well comes up dry as usual though!

You can add DPC, DPT, STU, NPX, RNS to that list and I am sure there are many more :)

[spirit]

Thanks Guys, I had them confused with someone else.

Casino, yesterday 6AM they must have been sitting stopped in the E Shale just above the F Sand, our primary target. So I would have thought that once drilling got underway again they could have easily drilled the target in 3 or 4 hours and maybe then halted for logging at about the 4000m mark. It's been blowing quite hard today so maybe some weather outage otherwise I'd say that it's odds on that they are beyond 4000m by tomorrow.

[Casino]

Don't want to jinx it but I have a good feeling. Fingers crossed...

[digger]

I did ring the wellington office about getting more info into the weekly new releases----but u guessed it regulations etc,etc.
On the other matter I am underwhelmed by the under takeover offer. In fact I would like to offer 38 cents to anyone wanting to sell to me. Many many thanks in advance.

[arjay]

I would like to offer 38 cents to anyone wanting to sell to me. Many many thanks in advance.

hmmmm ... will you throw in a set of those kitchen knives that never need sharpening?

[ziggy415]

hmmmm ... will you throw in a set of those kitchen knives that never need sharpening?

but wait there,s more...if your one of the first 40 investors to buy more shares in nzog you,ll get not one but two lots of useless information.....be quick this is a limited time offer...oh crap i guess those adds do work

[ziggy415]

im becoming brain washed...un balanced even

[ziggy415]

did chuckle over the announcement regarding debris in the hole the other day...3 km down...was it an abandoned car body or a petrified tree stump...captain cooks rubbish maybe

[ziggy415]

is that where Noah parked his ark

[notie]

It's a dry hole. How much is the share price going to drop?




MATUKU-1 WEEKLY PROGRESS REPORT No. 6 PEP 51906 – OFFSHORE TARANAKI BASIN, NEW ZEALAND
Octanex N.L. (ASX Code: OXX) (Company) has been advised by OMV New Zealand Limited, the Operator of the Matuku-1 exploration well being drilled in the offshore Taranaki Basin permit PEP 51906, that at 06:00 hours (NZST) on Tuesday, 14 January 2014, the well was at a depth of 4,000m MDRT (measured depth below rotary table).
Since the last progress report on 7 January 2014, the 81⁄2ʺ section penetrated the Kaimiro Formation D Sand (T20 sands) which were found to be porous with oil shows but water bearing, before drilling through the E Shale into the Kapuni Group Farewell Formation F Sand (T10 sands) at 3,935 MDRT. The F sands were found to be porous, but there was no significant gas or shows.
Planned operations over the coming week are to drill ahead to the next target, the Pakawau Group North Cape Formation (K90) sandstones.
Matuku-1 is programmed as a vertical well that is being drilled by the Kan Tan IV semi- submersible rig in water depths of approximately 130m. The Operator currently intends drilling the well to a total depth of 4750m MDRT.
The Company’s wholly-owned subsidiary, Octanex NZ Limited, holds a 22.5% participating interest in the PEP 51906 permit and this interest is being free carried by OMV through the drilling of the Matuku-1 well – see the attached Figure 1 Location Map for the Permit and Matuku-1.

[Casino]

Hopefully not as much as OXX...

[Banksie]

Hate to say I told ya so...

Que Balance...

Told us what moosie? That matuku would be a dry hole?

[fabs]

So thankfully ZEROs generous offer preventing S/P from free-fall????

[ziggy415]

guess that means we.ll get on to oi bit quicker which was always going to be more lucratif....see the glass is half full

[ziggy415]

65 million barrels of water is not to be sneezed at lol

[digger]

So thankfully ZEROs generous offer preventing S/P from free-fall????
NZO has had over the last 5 years all dry holes here in NZ so at least has little built in expectations of success. Note the sp did not go up beforehand so I do not think it will go down much either. If the next target the North cape is also dry its pack up and move on to OI where we will be targeting 11 million barrels but in this case we have 27%.
Always into the future. Bugger

[Casino]

So thankfully ZEROs generous offer preventing S/P from free-fall????

I can think of 160 million reasons why it won't freefall.

[Casino]

So thankfully ZEROs generous offer preventing S/P from free-fall????

I can think of 160 million reasons why it won't freefall.

[ziggy415]

still no announcement from nzog....ive tried to ignore naysayers about nzo management but slowly beginning to think maybe they do need a wee nudge in the info department

[Sayce]

Pretty bad that NZO has not yet posted the report that has appeared in Australia

[JBmurc]

I can think of 160 million reasons why it won't freefall.

Yes OXX be very happy to have farmed down the drill added 12.5mill from NZO joining in....

[brucey09]

Snr. Moose
And Mexico is the wildest west? Yes? NZO! Disclosing?

[neopoleII]

what about the forgotten wells in indonesia?
one month off from one year anniversary of spudding and ..........
not even an explanation.
NZO even asked the regulators for "special" dispensation to withhold information.... one of the reasons was commercial sensitivity, the other one
was indo regulation....... and now we hear that the indo government has banned exports of raw minerals from foreign owned mines in its jurisdiction,
does this apply to oil wells also?
it seems management havent got a clue about anything...... or dont want to disclose.
but that is what you get when a "dictator" runs/rules an entity to their own fashion..... the minions are also clueless and when the "head"
leaves or is pushed then there is not much left........ except the shareholder funds..........
but dont worry, our regulators see no issues with NZO ...... so all is good.

[arjay]

How many times does this have to happen before you guys have had enough? Seriously? I'd like a number!

6 HOURS late after their junior partner and only released because its Price Sensitive, not to mention being a poorer version of their junior partners! They obviously do not communicate with their partner about releases either!

How is this acceptable to holders? I'd like someone to explain it to me, in all seriousness!

How about the number 1? NZO made the announcement 1 hour before your post.

[Casino]

So this is acceptable to you as a shareholder, along with all the other things that NZO does? if you dont watch OXX.ASX you would have had no idea why the sp got dumped on at midday...

11h delay after drilling an exploratory well 4k below the ocean? It's not ideal. How often does Xero update online subscriber numbers?

[arjay]

So this is acceptable to you as a shareholder, along with all the other things that NZO does? if you dont watch OXX.ASX you would have had no idea why the sp got dumped on at midday...

I think you make a fair point Moosie. Had the well been successful then NZO would certainly have had to make a timely report because it was news with an obvious material impact to the company. A dry well doesn't impact so much though and there wasn't much of a selldown after the OXX announcement, although it might be interesting to see who sold off shares between noon and 5.30. Also, our friend (whose name cannot be mentioned least the rubbing of the lamp brings the genie out) didn't drop by to tell us what a bunch of mushrooms we are, so maybe we can take heart.

[notie]

Fool NZO for spending 12.5 mil to get into this deal in the first place. Now that it is a duster, they fail to tell the the market even when OXX make a release to the market.

Sloppy


I think you make a fair point Moosie. Had the well been successful then NZO would certainly have had to make a timely report because it was news with an obvious material impact to the company. A dry well doesn't impact so much though and there wasn't much of a selldown after the OXX announcement, although it might be interesting to see who sold off shares between noon and 5.30. Also, our friend (whose name cannot be mentioned least the rubbing of the lamp brings the genie out) didn't drop by to tell us what a bunch of mushrooms we are, so maybe we can take heart.