NZ Oil & Gas (NZO)

[Balance]

Indeed, ASX oilers are doing stunningly well. QPN is down 90% (1.8c > 0.2c) over the last three years (as another random example).

Tells us a lot about you, doesn't it?

[neopoleII]

here you go ziggy,
http://www.offshoreenergytoday.com/awe-santos-complete-aal-oil-field-transaction-indonesia/
and I would of bought options to buy into this field. but NZO didn't give the shareholders an option or asked.

[Snow Leopard]

People.

If you are going to try valuing the worth of any oil extraction then you are going to need to try and understand how the regime works in Indonesia.

So read the relevant parts (Section III) of this Guide (http://www.pwc.com/id/en/publications/assets/oil-and-gas-guide_2012.pdf) from PWC.

Then you may be able to come up with more realistic figures.

Best Wishes
Paper Tiger

And have you read the Ande Ande Lumut story link as well?

Best Wishes
Paper Tiger

[Snow Leopard]

Indeed, ASX oilers are doing stunningly well. QPN is down 90% (1.8c > 0.2c) over the last three years (as another random example).Tells us a lot about you, doesn't it?

Every once in a while I am mentally blown away my the sheer level of sophistication of your debate and that tiny glimpse into the workings of the genius mind behind it.

Best Wishes
Paper Tiger

[Balance]

Indeed, ASX oilers are doing stunningly well. QPN is down 90% (1.8c > 0.2c) over the last three years (as another random example).

Takes someone well schooled in the dark arts of deception to come out with something like that.

:D

[Snow Leopard]

Takes someone well schooled in the dark arts of deception to come out with something like that.

:D

Stop it - I think I am about to swoon.

Best Wishes
Paper Tiger

[arjay]

I have encouraged Noggers to look at ASX oilers before if you bother to look back.



Irony is clearly a term not understood by Balance, although top marks to him for his efforts to evade PT's astute observations.

I can't understand what has brought Balance out of his cave though, NZO are doing quite well this week (not as well as selected ASX stock of course ....)

[Balance]

Indeed, ASX oilers are doing stunningly well. QPN is down 90% (1.8c > 0.2c) over the last three years (as another random example).

Next we will have you (ably assisted by Digger) coming out and pointing to BRL's 95% collapse in its share price since 2011 as to why Pike River total collapse was to be expected.

I cannot hope to win against Noggerlogic.

So gutted.




















NOT :D :D :D

[ziggy415]

Stop it - I think I am about to swoon.

Best Wishes
Paper Tiger

must be international happiness day hehe...normal transmission will resume tomorrow

[arjay]

Next we will have you (ably assisted by Digger) coming out and pointing to BRL's 95% collapse in its share price since 2011 as to why Pike River total collapse was to be expected.

I cannot hope to win against Noggerlogic.




Dear Boy, to put words into the mouths of others and then disagree with them is sign of self-loathing. Next you will be comparing us with the nazis.

[Balance]

Dear Boy, to put words into the mouths of others and then disagree with them is sign of self-loathing. Next you will be comparing us with the nazis.

Sorry, you will have to talk to Digger about that one.

I did not try to blame the Conservation Dept for the deaths of 29 miners.

Meanwhile, I see that Wayang kulit harimau is thrashing himself silly trying to stalk with the Noggerlogic thorn in his paw? Last attempt of this poor harimau was trying to justify the directors of Snakk selling their shares (in a huge hurry) with PEB executives and directors selling. Oh dear!

[Bella52]

Thanks Banksie,

One wonders why they did not play there before heading off overseas. I have always told to "fish at my feet" first !

they did try that Tui SW a few years ago

[ziggy415]

they did try that Tui SW a few years ago

remember one in ten chance of striking oil...pateke is number eleven

[ziggy415]

And have you read the Ande Ande Lumut story link as well?

Best Wishes
Paper Tiger
just read the link,,,,seems to be loaded in indonesian govt. favour...in fact not sure if its actually worth drilling over there....interesting reading...many thanks

[ziggy415]

The success of our first wells in the Kisaran PSC makes 2013 a defining year for Bukit Energy. Both the PM-2 and PM-3 wells were successfully drilled and tested. The results of PM-2 and PM-3 will form the basis for our Plan of Development submission which, if approved as anticipated, will provide Kisaran PSC land tenure to 2031 and allow for first production. Initial success with our Kisaran drilling program has served to de-risk a broad play fairway that provides significant potential and material upside within our overall portfolio.

must be an announcement here soon

[digger]

The success of our first wells in the Kisaran PSC makes 2013 a defining year for Bukit Energy. Both the PM-2 and PM-3 wells were successfully drilled and tested. The results of PM-2 and PM-3 will form the basis for our Plan of Development submission which, if approved as anticipated, will provide Kisaran PSC land tenure to 2031 and allow for first production. Initial success with our Kisaran drilling program has served to de-risk a broad play fairway that provides significant potential and material upside within our overall portfolio.

must be an announcement here soon

Where did you get this from?

[ziggy415]

Where did you get this from?

correct moosie ,it has been around since fracking didnt go so well but with no announcement to the detriment one muist assume there still going ahead with the plan of developement to the indo govt. but haveing read the link provided by paper tiger, the indo govt takes all the goodies and non of the costs/risks...charges an arm and a leg and expects koha as well

[ziggy415]

Where did you get this from?

correct moosie ,it has been around since fracking didnt go so well but with no announcement to the detriment one muist assume there still going ahead with the plan of developement to the indo govt. but haveing read the link provided by paper tiger, the indo govt takes all the goodies and non of the costs/risks...charges an arm and a leg and expects koha as well or should that be back hander

[digger]

Thanks for that Moosie and ziggy415. Last I heard was that a decision was expected sometime in the sept quarter of this year.
Sure Paper Tigers comments are correct, but the Indonesia govt still have to weight up the risk that in the future no one will drill if no profit. I suspect NZO will make money on these wells even if they do not turn out to be company makers. We have since gone into Indonesia deeper so I assume the management know about these risks and have decided to go ahead----with Balance's full support taken for granted.

[Balance]

Thanks for that Moosie and ziggy415. Last I heard was that a decision was expected sometime in the sept quarter of this year.
Sure Paper Tigers comments are correct, but the Indonesia govt still have to weight up the risk that in the future no one will drill if no profit. I suspect NZO will make money on these wells even if they do not turn out to be company makers. We have since gone into Indonesia deeper so I assume the management know about these risks and have decided to go ahead----with Balance's full support taken for granted.

Management of course know about the risks and decided to go ahead - just like Pike River eh, Digger?

[fish]

Management of course know about the risks and decided to go ahead - just like Pike River eh, Digger?

I am sure only balance could see any similarity-and balance please spare us from trying to explain why its just like pike river because most will find it very sick

[Balance]

I am sure only balance could see any similarity-and balance please spare us from trying to explain why its just like pike river because most will find it very sick

The truth hurts?

:D

[fish]

The truth hurts?

:D
Trying to equate the tragedy of pike river coal with an oil venture in indonesia is sick .
It is not a truth but much worse is the dead should not be used to make a personal point.

[Balance]

Trying to equate the tragedy of pike river coal with an oil venture in indonesia is sick .
It is not a truth but much worse is the dead should not be used to make a personal point.

Only the truth will set you free.

Digger asserts that NZOG management " the management know about these risks and have decided to go ahead" as regards Indonesia.

He also asserted in previous postings that NZOG and Pike River directors and management know about risks etc.

What is sauce for the goose is also sauce for the gander.

[digger]

Management of course know about the risks and decided to go ahead - just like Pike River eh, Digger?

Pike River was a fully independent company listed on the NZX. As such NZO had no more control over it than any other shareholder. Pike River was its own boss goverened only by the govt departments and fully by the mine inspectors who could have shut it down at any time.

For NZO to take up more drilling options in Indonesia is directly, fully , completely and finally in the hands of management. The decisions made to control Pike River were in other organisations control so I do not see any way these two issues can be compared.

[Balance]

Pike River was a fully independent company listed on the NZX. As such NZO had no more control over it than any other shareholder. Pike River was its own boss goverened only by the govt departments and fully by the mine inspectors who could have shut it down at any time.

For NZO to take up more drilling options in Indonesia is directly, fully , completely and finally in the hands of management. The decisions made to control Pike River were in other organisations control so I do not see any way these two issues can be compared.

Thanks for affirming your beliefs for the record.

[RTM]

I don't get it. Announcement just out. Seems quite positive. And share price goes down.
Balance...what are you up to ?
Disc. Hold NZO

[ziggy415]

I don't get it. Announcement just out. Seems quite positive. And share price goes down.
Balance...what are you up to ?
Disc. Hold NZO
The stuck drill string and subsequence side track has put Pateke well back a couple of weeks and with the china story lookn a bit soft i think share holders were hoping for better news and for some holders they are bailing out but for every 100,000 shares sold 100,000 are bought....hang in there

[Balance]

The stuck drill string and subsequence side track has put Pateke well back a couple of weeks and with the china story lookn a bit soft i think share holders were hoping for better news and for some holders they are bailing out but for every 100,000 shares sold 100,000 are bought....hang in there

That's the best you can do?

So for every 100,000 Feltex shares sold, 100,000 Feltex shares are bought? :D

[ziggy415]

That's the best you can do?

So for every 100,000 Feltex shares sold, 100,000 Feltex shares are bought? :D

anybody with the slightest intelligence would have understood what i meant....i never expected you to get it

[ziggy415]

anybody with the slightest intelligence would have understood what i meant....i never expected you to get it

the "truth" will set you free......where have i heard that quote before...it will come to me..ha ha

[Balance]

anybody with the slightest intelligence would have understood what i meant....i never expected you to get it

Ok, make it 'for every 100,000 Pike River shares sold, 100,000 Pike River shares are bought.'

Better?

:D

[ziggy415]

i see page 9 of interim report....Kisaran "plan of developement being drafted...production hoped for 2015".......any snippet is good news to a true noggers.....with the share price being a tad soft even balance must be tempted to join the noggers flock

[Mr Tommy]

i see page 9 of interim report....Kisaran "plan of developement being drafted...production hoped for 2015".......any snippet is good news to a true noggers.....with the share price being a tad soft even balance must be tempted to join the noggers flock


Bit more detail on page 5. Hopefully Pateke-4 might also be producing by 2015

Meanwhile analysis has begun on the results of two
wells in Indonesia. Drilling in the Kisaran production
sharing contract produced oil and gas in 2013. The two
discoveries were quite different and we are working
through an appraisals process, which will be followed
by a plan of development.
The plan of development must be approved by the
regulator. Under a production sharing contract
development costs are recovered by the explorer
before the explorer and regulator share revenue, so the
regulator needs to be comfortable with the timelines and
costings in the plan.
Although there were discoveries in both Sumatra wells,
the data is complex and so I don’t expect to see a plan of
development this financial year.

[arjay]

Encouraging, although if they don't expect to see a development plan emerge this FY then perhaps next FY is a tad optimistic for actual production to begin?

[Joshuatree]

Pateke-4H drilling update (https://www.nzx.com/companies/NZO/announcements/248983) Still looks very promising!!

[ziggy415]

i see the sell side is getting bit top heavy....is this punters selling to get cash for genesis or is there something about pateke we dont know about

[fish]

my guess is those that elected shares instead of cash dividend are selling a few -perhaps for genesis but probably diverse reasons

[ziggy415]

my guess is those that elected shares instead of cash dividend are selling a few -perhaps for genesis but probably diverse reasons

some large sells with only 2 or 3 sellers suggest to me that there more than bonus shares but hey im not that clever cos im still working for a living....maybe i could start a kiwi saver fund......ziggy kiwi saver.....hmmm

[ziggy415]

some large sells with only 2 or 3 sellers suggest to me that there more than bonus shares but hey im not that clever cos im still working for a living....maybe i could start a kiwi saver fund......ziggy kiwi saver.....hmmm

then i could get balance as my PA....look good in a skirt i reckon

[digger]

then i could get balance as my PA....look good in a skirt i reckon


some large sells with only 2 or 3 sellers suggest to me that there more than bonus shares but hey im not that clever cos im still working for a living....maybe i could start a kiwi saver fund......ziggy kiwi saver.....hmmm


i see the sell side is getting bit top heavy....is this punters selling to get cash for genesis or is there something about pateke we dont know about

If there is anything wrong with Pateke you can be sure Balance would have told you so. Probably be on his 200th repeat by now.

I would say the very slow and delayed drill is not helping confidence in the short run but will mean nothing in the end.

[Balance]

If there is anything wrong with Pateke you can be sure Balance would have told you so. Probably be on his 200th repeat by now.

I would say the very slow and delayed drill is not helping confidence in the short run but will mean nothing in the end.

You sure can say that again, Digger!

Remember the very slow and very delayed mining of Pike River coal?

It certainly meant nothing in the end - like big fat 0 (zero).

[ziggy415]

i see the sell side is getting bit top heavy....is this punters selling to get cash for genesis or is there something about pateke we dont know about
genesis heaverly over subscribed and institutions being scaled back....will see if sell orders dry up as no need for cash

[Balance]

http://www.stuff.co.nz/national/9907240/Pike-mine-re-entry-more-complex-than-expected

[minimoke]

You sure can say that again, Digger!

Remember the very slow and very delayed mining of Pike River coal?

It certainly meant nothing in the end - like big fat 0 (zero).
If we learnt any thing from Pike its no so much the pace of progress but how it is reported to shareholders and how Directors don't challenge their operational staff enough. The Pike Board were clearly negligent in their lack of attention while the NZOG board seemed perfectly lackadaisical about its PRCL investment - so much so it kept throwing good money after the obviously bad.

[glennj]

If we learnt any thing from Pike its no so much the pace of progress but how it is reported to shareholders and how Directors don't challenge their operational staff enough. The Pike Board were clearly negligent in their lack of attention while the NZOG board seemed perfectly lackadaisical about its PRCL investment - so much so it kept throwing good money after the obviously bad.

I agree minimoke. Some of the media release misinformation & information not made public or delayed was more than negligent. Being in Westland & knowing people working at Pyke I knew some of the media release info was untrue & that other material matters were only getting reported after considerable delay. I was concerned enough about things to sell my PRC shares and post my concerns on here a couple of times. I am not sure how much of this should be sheeted to the board & how much to management.
A small consolation is I saw the writing on the wall & got out in profit before the carnage happened.

[skid]

And have we learned a lesson--well..apparently not according to recent safety stats--the National energy minister is having to do all sorts of verbal acrobatics--Hes as slippery as they come.
Makes me wonder what sort of posts we will be seeing if one of those deep sea rigs (4-5 ks down) goes wrong--(still cant figure out how they can send a shaft 4 ks down in a turbulent sea and not have problems.)
Dont know if any of you have been up on a sailboat mast,but the boat doesnt have to move much to give you one hell of a ride.
The difference between Pike and a deep sea scenario is that aside from the loss of life the mess would be all over our coast rather than inside a mine.
Im as much for providing work as the next bloke,but you've got to draw the line somewhere--It obviusly should have been drawn earlier with Pike.

[Balance]

https://www.nzx.com/companies/NZO/announcements/249368

Donkey deep and only buyer - they need to support the sp or else, NTA of Zeta is going to look plenty sick.

If you believe in NZO, buy into Zeta instead - sp is trading at 30% discount to NTA!!

And bulk of its NTA is in - have a guess.

[fabs]

https://www.nzx.com/companies/NZO/announcements/249368

Donkey deep and only buyer - they need to support the sp or else, NTA of Zeta is going to look plenty sick.

If you believe in NZO, buy into Zeta instead - sp is trading at 30% discount to NTA!!

And bulk of its NTA is in - have a guess.

YES, SCARY A-plenty!

[ziggy415]

you dont need to buy 3million shares to support price...100,000 would do....they are building a stake plain and simple

[Balance]

you dont need to buy 3million shares to support price...100,000 would do....they are building a stake plain and simple

You have to if nobody else, especially institutions, is buying - and more so, when other institutions are selling out after deciding they have had a gutsful of monkeys burning cash looking for bananas in Siberia?

[Banksie]

You have to if nobody else, especially institutions, is buying - and more so, when other institutions are selling out after deciding they have had a gutsful of monkeys burning cash looking for bananas in Siberia?

I dunno balance at 77c NZO look pretty good:

EPS 5.47c
NTA 85.46c
P/E ratio 14.08
Dividend yield 7.79%


Debt $0
Cash on hand $158 m


2 producing fields and,
they have hit oil on their last 2 drills.

[digger]

you dont need to buy 3million shares to support price...100,000 would do....they are building a stake plain and simple

They would only need to buy 2.5 million to get three as they probably got shares in lue.

[ziggy415]

They would only need to buy 2.5 million to get three as they probably got shares in lue.
sorry digger i was being bit lazy....between last update by zeta and the latest update they have accummilated 6 million more shares....roughly 2 mill would be shares in lieu of divvy so they bought 4 mill on line which seems a lot if you are just trying to prop up the share price, but balance is right about not too many others wanting in.....shale oil in u/s will keep oil price in check and may be chasing punters away.....buttttt.. shale oil needs the price above us$90 to be cost effective so it may keep a bottom on the price....( dont know cost for nzo to extract a barrel)....i also see the usa is not allowed to export crude so lots are sitting in tanks in houston waiting to be processed...im sure balance will have his spin on it and i welcome another point of view

[Balance]

I dunno balance at 77c NZO look pretty good:

EPS 5.47c
NTA 85.46c
P/E ratio 14.08
Dividend yield 7.79%


Debt $0
Cash on hand $158 m


2 producing fields and,
they have hit oil on their last 2 drills.

You may be interested to know that the market does not value oil stocks on PER, Dividend yield and/or NTA.

The prime factors analysts consider are reserves, run down and replenish rates of reserves, costs of extraction, track record of new discoveries and of course, present and forecast mineral or oil price. Then there's management and reinvestment risks.

Consider NZOG against the above factors would give you an excellent indicator of why most institutions stay well clear of this stock.

[digger]

You may be interested to know that the market does not value oil stocks on PER, Dividend yield and/or NTA.

The prime factors analysts consider are reserves, run down and replenish rates of reserves, costs of extraction, track record of new discoveries and of course, present and forecast mineral or oil price. Then there's management and reinvestment risks.

Consider NZOG against the above factors would give you an excellent indicator of why most institutions stay well clear of this stock.

Once ever two years you Balance make a posting that I find myself largely agreeing with,and this is one of those rare ones. The last line is not entirely correct as institutions have mostly pulled out of all resource stocks in the last two years,but accurate enough anyways. TAP on ASX has done much worse than NZO for reasons I do not understand. New oil for then will come in about sept this year but until the money is in the bank investors are not interested. Oil and Gas stocks are just not in favour now.
However that is the past and probably still true for the near future.The coming crunch in oil and gas shortage will start to hit big time about 2017 and from now till then the world will act short term and pretend oil will always be plentiful and available.
Zeta's buying into NZO is the sort of play many top investors say you should undertake. That is do your own sums,do not try to find the future by looking in the rear vision mirror,and treat the total sum of investments of all others on the market as if they were just one person. Or in other words do not assume just because everyone is into or out of a stock the crowd must be right.
Zeta will soon be up against the limit where they can not buy anymore shares before the takeover rule kicks in at 19%. I believe they can exceed this limit if they only get above that figure on shares in lue.

[fabs]

[DIGGER
Zeta will soon be up against the limit where they can not buy anymore shares before the takeover rule kicks in at 19%. I believe they can exceed this limit if they only get above that figure on shares in lue.[/QUOTE]

But they will try to probably get a rep. on the board.
If and when that happens means another snout on the trough, which of course is of dubious benefit to the S/H.
Like i said before, only progress for this co. is striking a Gusher.
Trouble is a great amount more Expertise and perhaps also a bit of luck than the present management has displayed in the last few years badly required.

[ziggy415]

[DIGGER
Zeta will soon be up against the limit where they can not buy anymore shares before the takeover rule kicks in at 19%. I believe they can exceed this limit if they only get above that figure on shares in lue.

But they will try to probably get a rep. on the board.
If and when that happens means another snout on the trough, which of course is of dubious benefit to the S/H.
Like i said before, only progress for this co. is striking a Gusher.
Trouble is a great amount more Expertise and perhaps also a bit of luck than the present management has displayed in the last few years badly required.[/QUOTE]
Geez Fab....your sounding rather un"balanced"....
if Zeta get to a 20% share holding they will get a board spot and they have stated they want a capital distribution ..even a 10 cent special divvy will cost $40 million which puts a big dent in nzo coffers....pateke and oi wells are important to nzo because the cost to hook it to tui will be relitivey cheep and extend the life of tui......oil in these two wells will add 30 cents to nzo share price

[skid]

With tech and bio stocks getting hit,maybe its time for oilers to shine again--Everyone needs a darling:)

[Balance]

But they will try to probably get a rep. on the board.
If and when that happens means another snout on the trough, which of course is of dubious benefit to the S/H.
Like i said before, only progress for this co. is striking a Gusher.
Trouble is a great amount more Expertise and perhaps also a bit of luck than the present management has displayed in the last few years badly required.

Fabs, you better barricade your doors and protect your computer from a viral attack - you have just outed yourself as a heretic against the NZO religious order where the sun perennially shines out of the directors' and management proverbial.

Zeta has a tiger by the tail with their lop-sided investment in NZOG and has no choice but to keep buying - that much is clear.

Their strategy is clearly one of praying (in tune with the NZOG religious order, ably guided by latest convert Ziggy Stardust) for a gusher as you state - failing which they will push for a liquidation to recover what's left of their investment.

[Balance]

With tech and bio stocks getting hit,maybe its time for oilers to shine again--Everyone needs a darling:)

Why bet on the lame horse which always come last then if you believe that?

Go for the proven players - eg. OSH or Woodside on ASX, rather than NZO where one investor is desperately holding up the sp?

[ziggy415]

Why bet on the lame horse which always come last then if you believe that?

Go for the proven players - eg. OSH or Woodside on ASX, rather than NZO where one investor is desperately holding up the sp?
if I remember correctly Phar Lap ran last in his first race and we know what a winner he turned out to be.....and osh and woodside started out as small fish in a big pond so let us noggers have our wee dream and if were correct about nzo im sure you,ll be the first to step up and congratulate us

[Balance]

if I remember correctly Phar Lap ran last in his first race and we know what a winner he turned out to be.....and osh and woodside started out as small fish in a big pond so let us noggers have our wee dream and if were correct about nzo im sure you,ll be the first to step up and congratulate us

NZOG has been around for how many years, and ran how many races already?

Give you one concession - let's put Pike River to one side.

[fabs]

ZIGGY,

You got at least one Fact right, that you are a DREAMER.
Meanwhile the NZOG leader of the pack has plenty of time to figure out what to do with the $13000 +
flowing in every week.
Yes BALANCE got it right long ago, out of the field of Investors there are new Mushrooms sprouting fort aplenty

[ziggy415]

ZIGGY,

You got at least one Fact right, that you are a DREAMER.
Meanwhile the NZOG leader of the pack has plenty of time to figure out what to do with the $13000 +
flowing in every week.
Yes BALANCE got it right long ago, out of the field of Investors there are new Mushrooms sprouting fort aplenty
better to be a dreamer than being bitter and twisted .....if you hate nzo that much why bother coming on this thread

[Lion]

Fabs, you have joined balance and a few others on my ignore list. It's so peaceful and pleasant without you! Bye bye

[ziggy415]

Fabs, you have joined balance and a few others on my ignore list. It's so peaceful and pleasant without you! Bye bye
you mean there,s an ignore function.....just kidding....balance does have a testy side to him but some times he comes up with some common sense posts that make me think....The jury is still out on Fabs....i will keep my finger hovering over the ignore button just in case

[Balance]

you mean there,s an ignore function.....just kidding....balance does have a testy side to him but some times he comes up with some common sense posts that make me think....The jury is still out on Fabs....i will keep my finger hovering over the ignore button just in case

Press the 'Ignore' - mushrooms like to be kept in the dark and be fed horse dung, right?

[Balance]

better to be a dreamer than being bitter and twisted .....if you hate nzo that much why bother coming on this thread

We will keep alerting the market to this five legged horse.

:D

[ziggy415]

We will keep alerting the market to this five legged horse.

:D
so,balance.....do you have a humble pie position....i mean will nzo always be a dog or will an oil discovery or two change your mind

[digger]

so,balance.....do you have a humble pie position....i mean will nzo always be a dog or will an oil discovery or two change your mind

Dumb question. Balance is a negative spirit molded by Darth Vader himself.The thought of saying something nice about NZO holders boils him like a thick morning fog that will never lift.Likeable chap though and he is on my repeat list certainly not the Ignore. Very entertaining.
Mushroom one out.

[fabs]

Meanwhile in the real world, were this time last year the S/P averaged 85 cents against the present77cents to dream about a possible handout of 40 mil. and then either before or after, a 30% percent increase of the S/P--- IF--- they succeed with worthwhile oil strikes, is somewhat over the top.
Only a irrational mind incapable of understanding, that Disappointed at managements handling of a co. that had everything going for itself for the last 10 years will use emotive words like bitter, hateful and twisted.
BTW:My not inconsiderable holding owes me nothing having traded in and out of nzo over a considerable time.
Also need no lecturing where to voice my opinion and criticism, also am not in the habit to normally get into personally attacking fellow members on this forum, other than the collective Managers of the co. unless THEY are making a habit of leading the way.
Yes it is a long time since i have felt and actually have praise given.

[ziggy415]

Meanwhile in the real world, were this time last year the S/P averaged 85 cents against the present77cents to dream about a possible handout of 40 mil. and then either before or after, a 30% percent increase of the S/P--- IF--- they succeed with worthwhile oil strikes, is somewhat over the top.
Only a irrational mind incapable of understanding, that Disappointed at managements handling of a co. that had everything going for itself for the last 10 years will use emotive words like bitter, hateful and twisted.
BTW:My not inconsiderable holding owes me nothing having traded in and out of nzo over a considerable time.
Also need no lecturing where to voice my opinion and criticism, also am not in the habit to normally get into personally attacking fellow members on this forum, other than the collective Managers of the co. unless THEY are making a habit of leading the way.
Yes it is a long time since i have felt and actually have praise given.
say what?????...me thinks you have had one to many of balances mushrooms

[fabs]

say what?????...me thinks you have had one to many of balances mushrooms

Well, OVERESTIMATING the mental capacity of a mushroom. IT HAPPENS
But by all means,
keep on keeping your head in the sand.
Cheers

[Balance]

so,balance.....do you have a humble pie position....i mean will nzo always be a dog or will an oil discovery or two change your mind

Strike a big one, you mean? Certainly will change perception of this 5 legged horse.

Meanwhile, drilling has come to a halt with Pateke due to an 'undrillable' obstruction! More delays and more cost over runs - sound familiar with NZOG?

https://www.nzx.com/companies/NZO/announcements/249501

[digger]

Strike a big one, you mean? Certainly will change perception of this 5 legged horse.

Meanwhile, drilling has come to a halt with Pateke due to an 'undrillable' obstruction! More delays and more cost over runs - sound familiar with NZOG?

https://www.nzx.com/companies/NZO/announcements/249501

This non drill is sure frustrating. Take -3 coming up.
This one was made for you Balance.-------your laugh

[ziggy415]

This non drill is sure frustrating. Take -3 coming up.
This one was made for you Balance.-------your laugh
rumour has it that it was sabotage....is that why you borrowed the dingy balance...

[neopoleII]

ok, so what is an undrillable obstruction?
these guy can drill through granite etc....
maybe they struck an underground iron meteorite or a huge diamond deposit..... im sure they took a sample??

[Onthemoney]

ok, so what is an undrillable obstruction?
these guy can drill through granite etc....
maybe they struck an underground iron meteorite or a huge diamond deposit..... im sure they took a sample??

Strong seal good oil....

[dsurf]

Press the 'Ignore' - mushrooms like to be kept in the dark and be fed horse dung, right?

More medicine please!

"Mushrooms are fungi and there are 14,000 species but only 3,000 are edible. 700 are known to have medicinal uses. Mushrooms have been used for thousands of years in cooking and as medicine."

[arjay]

Let's hope this is the last delay. This well is chasing 700,000 barrels nett to NZO, which is worth approx $70m (calculated at $100/barrel). NZO have announced that it is already going to cost more than $25m for their share. Any more problems and it won't be worth chasing.

[ziggy415]

Let's hope this is the last delay. This well is chasing 700,000 barrels nett to NZO, which is worth approx $70m (calculated at $100/barrel). NZO have announced that it is already going to cost more than $25m for their share. Any more problems and it won't be worth chasing.
the estimate was 2 to 4 million barrels...lets hope its the latter

[Balance]

Let's hope this is the last delay. This well is chasing 700,000 barrels nett to NZO, which is worth approx $70m (calculated at $100/barrel). NZO have announced that it is already going to cost more than $25m for their share. Any more problems and it won't be worth chasing.

Lousy odds.

But then, it's all about management showing they are doing something for the perks and salaries they get out of NZOG's coffers.

Motto - 'Spend it before shareholders want it'?

[neopoleII]

directional drilling gone wrong.
makes you wonder about oil explorers and their staff.
http://www.youtube.com/watch?v=1HiBeLRsJoM
ps..... not NZO related....... just an eye opener.

[Balance]

Last chance to get out of this dog before they blow all the rest of shareholders' wealth in futile pursuits even while the oil game is changing.

http://peakoil.com/alternative-energy/a-solar-powered-hydrogen-reactor-a-true-game-changer

Gotto keep the directors and management in jobs, see?

[digger]

Last chance to get out of this dog before they blow all the rest of shareholders' wealth in futile pursuits even while the oil game is changing.

http://peakoil.com/alternative-energy/a-solar-powered-hydrogen-reactor-a-true-game-changer

Gotto keep the directors and management in jobs, see?

Actually the real game changer is my Dark Energy inverter I am banging up in my spare time. . Now before you ask me to shed a little light on how it works I have to say such a question does not exist in the dark energy and dark matter universe. It only works if we are all kept in the dark.

Balance this piece is pure crap. I am on self power here and have been so for 5 years. On a sunny day the batteries boil before the computer shuts solar power into them off. Lead acid batteries when they boil are doing so by releasing Hydrogen. Hence this great breakthrough was made when the first lead acid battery was connected up to solar imput about 30 years ago For you or anyone else the hydrogen revolution will take place when we lean how to store hydrogen as it can pass through any vessal we use to contain it. The production of hydrogen is not the problem.
Put this in the same rubbish bag as cold fussion

[digger]

Also as a continuation from above, I believe this was first released probably on the first day of this month but is now 20 days old. Suitable for the 1st April to---actually a good one.

[Queenstfarmer]

Seems to be some confidence building in support of AWE, with this Taranaki drill?

[arjay]

Did I hear right that we supported Shane Jones's bid for the Labour leadership job?

[lambton]

Did I hear right that we supported Shane Jones's bid for the Labour leadership job?

I sought of get it, but its like eating dead rat seeing a coy I am invested in giving s/h's funds to the likes of Jones.

[Balance]

Did I hear right that we supported Shane Jones's bid for the Labour leadership job?

Shane Jones is pro business, pro mining and progressive.

Makes good sense for mining companies and businesses to back him as opposed to that hypocrite David 'secret trust with multi-million leafy suburb home' Cunliffe.

[ziggy415]

Shane Jones is pro business, pro mining and progressive.

Makes good sense for mining companies and businesses to back him as opposed to that hypocrite David 'secret trust with multi-million leafy suburb home' Cunliffe.

can see why he got off side with the greens...shame about the porn on the ministerial tab...another snout in the trough just what we need

[Sayce]

Once again PPP has given a much more informative and optimistic report on progress at Pateke 4H
Sayce

[arjay]

They were quoting the AWE announcement which is confusing. They say they intersected the zone of interest at 4023m, then drilled horizontally 677m which is where they are now. The plan is to drill a further 683m horizontally to a total depth of 5381m. To me this suggests al the drilling has been vertical, or by 'depth' are they referring to the length of the drillstem?

[Banksie]

Once again PPP has given a much more informative and optimistic report on progress at Pateke 4H
Sayce

I don't see it. What facts did NZO omit?

[Sayce]

These are the words that PPP used which added something extra:
"The well has consistently encountered
good oil shows after penetrating the F10 reservoir and elevated resistivity measurements indicative of the presence of oil. These results are very encouraging and inline with pre-drill estimates."

[zigzag]

They were quoting the AWE announcement which is confusing. They say they intersected the zone of interest at 4023m, then drilled horizontally 677m which is where they are now. The plan is to drill a further 683m horizontally to a total depth of 5381m. To me this suggests al the drilling has been vertical, or by 'depth' are they referring to the length of the drillstem?

By depth they are referring to the total length, not just the vertical depth.

[ziggy415]

They were quoting the AWE announcement which is confusing. They say they intersected the zone of interest at 4023m, then drilled horizontally 677m which is where they are now. The plan is to drill a further 683m horizontally to a total depth of 5381m. To me this suggests al the drilling has been vertical, or by 'depth' are they referring to the length of the drillstem?
they also said when drilling is complete a 6 and 5/8 production liner is to be installed.....no point in installing a production liner if there is nothing to produce

[arjay]

well, according to AWE it is a 'production' well :)

[ziggy415]

well, according to AWE it is a 'production' well :)
true...they must be reasonably sure to spend money on the production liner.....with regards to horizontal well, the oil column is only 10 metres so the vertical bit covers more area...just cant get my head around how u drill around a corner when your a kilometer down

[arjay]

...just cant get my head around how u drill around a corner when your a kilometer down

ask Balance - he's an expert on digging deeper having hit rock bottom.

[Banksie]

true...they must be reasonably sure to spend money on the production liner.....with regards to horizontal well, the oil column is only 10 metres so the vertical bit covers more area...just cant get my head around how u drill around a corner when your a kilometer down

http://www.horizontaloilshaledrilling.com/

[ziggy415]

i see the buy orders have suddenly jumped up......now i,m not cynical...but one one would expect good news for nzog is just around the corner....insider trading is,nt a problem in nz as the authorities are on to it.....omg i sound like balance

[digger]

i see the buy orders have suddenly jumped up......now i,m not cynical...but one one would expect good news for nzog is just around the corner....insider trading is,nt a problem in nz as the authorities are on to it.....omg i sound like balance


We have been having a lot of encouraging comments linked to the drill releases
so good news was always sort of there it is just that the market is starting to see Pateke H-4 as being somewhat derisked. It will soon be in the bag.
As I always say Balance is on the ball with anything that could be turned even the slightest negative and his absence increases the likelihood that things are at long last looking up.

My guess is another 7 to 10 days drilling then the testing will start. By mid May we should be getting some first indications of how much oil is in Pateke H-4. Well according to me anyways and lets hope no more holdups and then off to OI.

[fish]

Digger




a couple of years ago i spent an hour at nzo headquarters asking management -which was new at the time-if there were plans for enhanced recovery using injection techniques for tui as production fell-the answer was negative.
Do you or anyone else know what percentage of oil from the tui reservoir is being extracted by primary measures and if secondary enhancement is possible ?

[digger]

Digger




a couple of years ago i spent an hour at nzo headquarters asking management -which was new at the time-if there were plans for enhanced recovery using injection techniques for tui as production fell-the answer was negative.
Do you or anyone else know what percentage of oil from the tui reservoir is being extracted by primary measures and if secondary enhancement is possible ?


Fish no I do not know but it is a very good question which I will bring up next AGM.. My quick thoughts is that additional recovery is limited as the oil is being extracted from rock which is very porous. Before the FID was made to develop TUI we were told that oil flowed through this rock was the best in the world. I understand that enhanced recovery can only profitly happen when a good volume is left behind. As the TUI rock will give up most of its oil anyways there may be little left to pursue.

[arjay]

Positive news on Pateke coming through the wireless this morning. AK sounded very upbeat.

[Balance]

Karma means NZOG will not get any meaningful oil or gas find - 29 dead men and the company will not do the right thing.

Meanwhile, AWE charges ahead and NZO goes backwards, sp wise.

You guys sure you know which horse to bet on? The 5 legged one seems to catch your fancies? :D

[the machine]

Fish no I do not know but it is a very good question which I will bring up next AGM.. My quick thoughts is that additional recovery is limited as the oil is being extracted from rock which is very porous. Before the FID was made to develop TUI we were told that oil flowed through this rock was the best in the world. I understand that enhanced recovery can only profitly happen when a good volume is left behind. As the TUI rock will give up most of its oil anyways there may be little left to pursue.

If Pateke is positive then that will underwrite production from existing wells for several more years - production that otherwise may not have happened due to economics

M

[arjay]

It's unlike you to show up when the sun is out Balance.

[Balance]

It's unlike you to show up when the sun is out Balance.

Karma will sort NZOG out - I can only caution and suggest.

[digger]

Karma will sort NZOG out - I can only caution and suggest.

I ran across a dead deer in the bush the other day. Do you want a few bones to cross Balance? They would add to your witchcraft spell you are relying on now that things are starting to look up for NZO.

[Balance]

I ran across a dead deer in the bush the other day. Do you want a few bones to cross Balance? They would add to your witchcraft spell you are relying on now that things are starting to look up for NZO.

I can feel the FEAR.

It's ok, Digger - NZOG is the one with the funds and blood on their hands. You only supported their decision not to show compassion and responsibility to the dead miners' families, and blame it on the Conservation Dept.

[digger]

I can feel the FEAR.

It's ok, Digger - NZOG is the one with the funds and blood on their hands. You only supported their decision not to show compassion and responsibility to the dead miners' families, and blame it on the Conservation Dept.


Christ Balance things are looking up for NZO if that is the best you can bring up. We are not there yet so do not be so cheerful.

[Balance]

Well i finally got home from the Wellington AGM plus a bit of time to put things back together here on the farm. This AGM was like no other. Firstly i spoke to all the directors except Paul Foley who seem to be always busy.After this meetings i go away feeling more informed and more confident about our near future.
The directors have a higher likely hood of success in the coming drilling program than i was prepared to hope for but in the end as Unicorn says if it is dry it is dry and the odds stacked prior mean nothing. I did thank the directors at the meeting for the success in the past year and only regret is that i forget to also comment on the achievment of a Shares in lue of Dividend scheme.A 40% increase in shareprice since the 2008 AGM speaks for itself especially when few companies here in NZ or worldwide will be able to boast better.
I have some mixed concerns about our foreign exchange policy but did not comment on it as it was Paul Grogan's thing and i did not want to associate it with the way he was putting the case,which i found conforntationally and in hindsight. Frankly i have read many things about the US dollar lately and there is just as strong an arguement that it is in for a sudden correction upwards as downwards. The NZ dollar is high for reasons that are beyond me but suspect it will correct back..
Also true that whatever we pay for has to be in US dollars as does an acquisition if it eventuates,so there was a very good reason for doing what the director did. If i were to have brought up a point at the AGM about this matter it would have been along the lines that things are not looking normal anymore. By that i mean the US seems to be weaking as the worlds reserve currency and little NZ and smaller NZO will get pushed aside in any world shift. Maybe we should start putting some money in the Euro.
Again to the directors thanks for a very good year and also best of the best for a successful new year drilling program.

Spoke too soon, Digger as you did way back in 2009 after the AGM.

A 5 legged horse is no good at the race track, I think you know that?

[fabs]

Spoke too soon, Digger as you did way back in 2009 after the AGM.

A 5 legged horse is no good at the race track, I think you know that?

Yes the good old times and days for DREAMING of 2009 when the nzo S/p was between $1.50-$1.70

[skid]

Wheres Notie?

[zigzag]

Maybe he's helping NZOG install the production liner? :D

With a bit of luck, he is the production liner.

[ziggy415]

ZIGGY,

You got at least one Fact right, that you are a DREAMER.
Meanwhile the NZOG leader of the pack has plenty of time to figure out what to do with the $13000 +
flowing in every week.
Yes BALANCE got it right long ago, out of the field of Investors there are new Mushrooms sprouting fort aplenty
Balance,s lap dog fabs at it again

[Balance]

ziggy415, suggest you don't even go there.

Are you seriously aligning yourself with the directors and management of NZOG who presided over the destruction of hundreds of millions of shareholders' wealth in the last 5 years, and contributed to the deaths of 29 miners as well by their gross mismanagement in the way they invested in Pike River?

Are you in agreement that it is better for NZOG to blow tens of millions of dollars so far in dry wells and bad investments (eg. Tunisia), and not paying a few millions as recommended by a judge to the families of the dead miners?

[ziggy415]

ziggy415, suggest you don't even go there.

Are you seriously aligning yourself with the directors and management of NZOG who presided over the destruction of hundreds of millions of shareholders' wealth in the last 5 years, and contributed to the deaths of 29 miners as well by their gross mismanagement in the way they invested in Pike River?

Are you in agreement that it is better for NZOG to blow tens of millions of dollars so far in dry wells and bad investments (eg. Tunisia), and not paying a few millions as recommended by a judge to the families of the dead miners?
why didn,t you tell me all this before, if i had known i would never have invested in this dog of a company....will selll the first opportunity i get :)

[digger]

why didn,t you tell me all this before, if i had known i would never have invested in this dog of a company....will selll the first opportunity i get :)

Me toooo. Thank you Balance for opening my eyes. Will quite as soon as SP gets to $10 share. May one of your witch doctors accept my 1000 pardons for all my short coming for not see that Balance is correct as always.
Meanwhile Pateke drills ahead.

[Balance]

Me toooo. Thank you Balance for opening my eyes. Will quite as soon as SP gets to $10 share. May one of your witch doctors accept my 1000 pardons for all my short coming for not see that Balance is correct as always.
Meanwhile Pateke drills ahead.

Yes, Digger - he who wrote this in 2009 : "This AGM was like no other. Firstly i spoke to all the directors except Paul Foley who seem to be always busy.After this meetings i go away feeling more informed and more confident about our near future. "

You do really believe in the directors, don't you?

Did you go back to the farm and shouted from the nearest hill to all the farm animals and field mushrooms about the great years ahead? :D

Pity it was all downhill from 2010 for NZOG.

[digger]

Yes, Digger - he who wrote this in 2009 : "This AGM was like no other. Firstly i spoke to all the directors except Paul Foley who seem to be always busy.After this meetings i go away feeling more informed and more confident about our near future. "

You do really believe in the directors, don't you?

Did you go back to the farm and shouted from the nearest hill to all the farm animals and field mushrooms about the great years ahead? :D


Pity it was all downhill from 2010 for NZOG.

Yes but that was then. Now I have seen the error of my ways. The clear vision you have created by rubbing with the cross bones. In the past I was wrong to not believe in you. 10,000 pardons oh great one.

[Balance]

Yes but that was then. Now I have seen the error of my ways. The clear vision you have created by rubbing with the cross bones. In the past I was wrong to not believe in you. 10,000 pardons oh great one.

Nobody makes the same mistake twice - because the second one is not a mistake, it is a choice.

Think about it.

[Goldstein]

Are you seriously aligning yourself with the directors and management of NZOG who presided over the destruction of hundreds of millions of shareholders' wealth in the last 5 years, and contributed to the deaths of 29 miners as well by their gross mismanagement in the way they invested in Pike River?


Balance, I like a lot of what you say, but I really don't think NZOG contributed to the deaths of the Pike River miners. This was the fault of the Pike River Executive. Possibly the New Zealand Govt can take a share of the blame as well for allowing the mining industry to be self regulating.

[Balance]

Balance, I like a lot of what you say, but I really don't think NZOG contributed to the deaths of the Pike River miners. This was the fault of the Pike River Executive. Possibly the New Zealand Govt can take a share of the blame as well for allowing the mining industry to be self regulating.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10896096

"But NZOG - which has previously extended the receiver working capital - could surely have been prevailed upon again. It did after all supply the leading players on the board and continue to extend financial facilities to fund Pike River Coal's operations at a time when there were known concerns within the company over its methane management and strong pressure from the board on the executive to deliver."

"It kept the funding tap going and kept pressure on for commercial results when the brakes, as its directors on the Pike River Coal board must have known, should have been applied."

[Balance]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10897484

"NZOG must take some responsibility, as Radford played a leading role in the development of Pike River and Ward was appointed chief executive and managing director when three of the four Pike River directors, including him, were NZOG representatives."

NZOG was the promotor, sponsor and funder of Pike River.

NZOG seconded directors and management to Pike.

NZOG pumped in ever more money when Pike ran into problems - cost over-runs, engineering mishaps, wrong machinery configuration etc.

As John Campbell put it to Andrew Knight accurately, NZOG put in money to pay unsecured creditors - BECAUSE NZOG believed the mine could be recovered - not out of the charity and moral fibre of NZOG.

And we still have Noggers here who believe NZOG is but a shareholder in Pike!

[Balance]

In another 6 or 7 weeks, this article will be a year old.

Got anything new for us Balance?

Something like Karma's effect on production liner installation. :rolleyes:

I have learned to expect this from some who think that the deaths of 29 miners is but one big distraction from making money.

Raise your sights, Yankiwi, beyond the $ and cents and give your moral compass a setting.

NZOG may be well within its legal rights not to pay compensation (as ordered by the judge) to the families of the dead miners, but what is the moral and honorable thing to do?

Truth is eternal, Yankiwi.

Moral rights are what you do because it's the right thing to do. it's based on values and principals shaped by our upbringing or guided by our belief and faith. it's what we know in our hearts to be good and true.

Legal rights are that which is mandated by law. Legal rights are basically created for egregious wrongs that are so horribly bad that we as a society are pushed to the limits of making a law to ban it. Murder is so very very morally wrong that we must create a law to make it legally wrong because it is that important. But we don't create laws that prevent you from letting the door slam in the face of the person behind you. That is just morally wrong, but not so horrible that anybody pushes us all into make a law to prevent it.

Apartheid was legal in South Africa but was it ever moral?

[Goldstein]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10896096

"But NZOG - which has previously extended the receiver working capital - could surely have been prevailed upon again. It did after all supply the leading players on the board and continue to extend financial facilities to fund Pike River Coal's operations at a time when there were known concerns within the company over its methane management and strong pressure from the board on the executive to deliver."

"It kept the funding tap going and kept pressure on for commercial results when the brakes, as its directors on the Pike River Coal board must have known, should have been applied."


I guess my point is that company directors are not experts in mine safety. They employ an executive who are the experts. I remember at the time being very upset by the praise various people were giving Peter Whitall, when all I could think was this guy is responsible for these deaths. If Peter Whitall had told the directors (on record) that the mine was unsafe they would have had no option but to suspend operations. Directors put pressure on the executive to perform, but the executive has to inform the directors of how the company performing.

[skid]

I guess my point is that company directors are not experts in mine safety. They employ an executive who are the experts. I remember at the time being very upset by the praise various people were giving Peter Whitall, when all I could think was this guy is responsible for these deaths. If Peter Whitall had told the directors (on record) that the mine was unsafe they would have had no option but to suspend operations. Directors put pressure on the executive to perform, but the executive has to inform the directors of how the company performing.

Everyone wanted to make $$ on Pike,including all the shareholders--Lets face it ,the almighty dollar probably played a big part in the disaster.
That same almighty dollar that many are complaining is not being made now by NZO.
If they would have done what we all know now ,was the right thing and stopped and remedied the problems,missed shipments,and started a downtrend in the bottom line of Pikes balance sheet (and SP)-you would have to be Naive to think that there would not have been some major complaining .

We are all,partly to blame---Time to move on.----

-It would be good to see a success with a drill--they have been to far and few between.

[fish]

I guess my point is that company directors are not experts in mine safety. They employ an executive who are the experts. I remember at the time being very upset by the praise various people were giving Peter Whitall, when all I could think was this guy is responsible for these deaths. If Peter Whitall had told the directors (on record) that the mine was unsafe they would have had no option but to suspend operations. Directors put pressure on the executive to perform, but the executive has to inform the directors of how the company performing.
Everyone involved in the mine from the workers to the directors had a moral duty to ensure safety.
Government also failed.
Balance has been on a crusade to discredit nzo for as long as I remember.
He will waste a lot of time regurgitating the past and I for one have no time to waste as he repeats stupid allegations against nzo.
NZO was a shareholder and funder of prc for several years before the explosion.
We all know,apart from a few that don't accept the truth,that shareholders and those that loan money to a company are not responsible for mistakes-no matter how tragic-that happen to a company

[Balance]

Morals are a belief.

Karma is a belief.

These could be better debated on the "Space Time" thread which is on the "Off Market Discussions" forum if you choose to rant on about your beliefs.

Shares are about investing in an attempt to try to make money, is it not?

And there you have it!

Yankiwi reinforcing the mantra that it's all about making money - forget about morals, responsibilities for fellow beings and accountability.

Guess you now know why Pike River blew up, right?

The directors and management of NZOG and Pike River were following that mantra.

[brucey09]

Snrs.
I watch and thinking yesterday gone. Nzo for future what? Lowering money in and lowering reserve and large team experts in office. Change Nzo to investment companie Snr. Knight and hire in experts when wanted only - yes? Always Nzo junior partner anyway. Main partner has all experts too.

[Balance]

Funny that, I believe do. It was an explosive methane/oxygen mixture followed by a source of ignition. Pretty easy explanation really.

You are a class act, yankiwi.

Keep revealing more of your personality and intellect for us all to marvel at.

:D

[zigzag]

Balance. Half your posts are misleading, and the rest are blatant lies. And you lecture us on morals You wouldn't even know what a moral compass is. Why don't you give us all a break and ………. off!

[Balance]

Balance. Half your posts are misleading, and the rest are blatant lies. And you lecture us on morals You wouldn't even know what a moral compass is. Why don't you give us all a break and ………. off!

LOL - Poor Zigzag. Lost your bearings, I see.

You have an anger management problem, I think so you need learn to control yourself.

Have you stopped beating your partner yet?

[ziggy415]

LOL - Poor Zigzag. Lost your bearings, I see.

You have an anger management problem, I think so you need learn to control yourself.

Have you stopped beating your partner yet?
you feeln better yet balance...you,ve had a good day here on noggerland and managed to upset half of new zealand and yet peoploe still want to debate with you....go back to the old balance... the measured, informative, glass half full kinda guy....

[ziggy415]

you feeln better yet balance...you,ve had a good day here on noggerland and managed to upset half of new zealand and yet peoploe still want to debate with you....go back to the old balance... the measured, informative, glass half full kinda guy....
he he...gonna have to go in the witness protection programme now....half of nz want to neuter me

[Balance]

he he...gonna have to go in the witness protection programme now....half of nz want to neuter me

Haha - Yankiwi will get half of his greyhound racing mates to set their hounds on you for a start!

[digger]

So reading yesterdays post it is clear that NZO is in for happier days as all Balance can rant on about is the past. Tuesdays report should be showing the horizontal drilling nearing an end but I suspect at least another week before we get some ides of how successful Pateke H4 is. To fill the space back to Balance.

[Balance]

So reading yesterdays post it is clear that NZO is in for happier days as all Balance can rant on about is the past. Tuesdays report should be showing the horizontal drilling nearing an end but I suspect at least another week before we get some ides of how successful Pateke H4 is. To fill the space back to Balance.

Remember this, Digger?

"Is it not time to now draw a line in the sand and start looking forward and not backwards? Look at what we have now, which is a working mine with a world class product, good machines and new plant. Systems in place and buyers for the product. The SP is at a very good price so buy up large. If you are not happy then sell up and move on. Stop the negitive about the past as it is the past!"

Written 19 Nov 2010 - the very same afternoon The mine exploded.

http://www.sharetrader.co.nz/showthread.php?4603-PRC-Pike-River-Coal/page483&highlight=pike

See, some people like you have got NZOG (and Pike River) so horribly wrong you cannot bear to be reminded but the past is the best indication of the future.

So, reflect on that, Digger.

Without understanding your past, you ain't got no future.

[hilskin]

MINE: NZO: Pateke-4H drilling update - running production liner
NZO
05/05/2014 09:33
MINE

REL: 0933 HRS New Zealand Oil and Gas Limited

MINE: NZO: Pateke-4H drilling update - running production liner

Drilling has ceased at a revised total measured depth of 4,772 metres in the
Pateke-4H well offshore Taranaki, New Zealand, and a 6 5/8 inch slotted
production liner is being run, the operator has advised.

The oil-bearing properties of the Kapuni F10 reservoir are positive and the
well has been drilled to sufficient depth to enable production.

Modelling is currently under way to determine the estimated recoverable oil
volumes and a 2P estimate will be published when the joint venture has fully
analysed the most recently acquired well data.

Data analysed to date is consistent with the operator's pre-drill estimates.

New Zealand Oil & Gas has a 27.5 per cent interest in Tui.

The other Tui joint venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%

[Bella52]

Without understanding your past, you ain't got no future.[/QUOTE]

The shareholders appear to understand the past, hence the changing of the Board!

[Joshuatree]

"The well has penetrated 749 m of the oil bearing F10 reservoir sand which has excellent reservoir properties throughout and is comparable with the producing reservoirs at pat eke-3H and in Amokura and Tui fields"

Looking more and more like the real deal:)

[freddagg]

PPP anouncement says production liner already done and they sound much more optimistic.

Pateke-4H Appraisal Drilling Update
Pan Pacific Petroleum has been advised by AWE, the Operator of PMP38158, that the Pateke-4H appraisal/development well being drilled by the semi-submersible drilling rig the “Kan Tan IV” has reached a revised total measured depth of 4772m BRT (below rotary table) and has successfully completed installation of the 6 5/8 inch production liner.
The well has penetrated 749m of the oil bearing F10 reservoir sand which has excellent reservoir properties throughout and is comparable with the producing reservoirs at Pateke-3H and in the Amokura and Tui Fields.
Pre-drill 2C resource estimates recoverable from Pateke-4H were estimated at 2.5 million, 375,000 barrels net to PPP. Further work is required to determine the expected recovery from Pateke-4H, but given the excellent reservoir properties initial evaluation suggests a result consistent with pre-drill estimates. Further details of resource estimates will be provided in due course when the data has been fully analysed.
Pateke-4H will be tied-back to the Tui FPSO for production with first oil expected before the end of Q1 2015.

[zigzag]

I think this was always more of an appraisal/production well, rather than a straight out exploration well. This isn't a major, but it is confidence builder. I am wondering why they stopped at 600m short of their original target depth.

[arjay]

"The well has penetrated 749 m of the oil bearing F10 reservoir sand which has excellent reservoir properties throughout and is comparable with the producing reservoirs at pat eke-3H and in Amokura and Tui fields"

Looking more and more like the real deal:)

Karma is rewarding the patience of shareholders.

[Joshuatree]

Or in my shorter term hold its the Sutra, or the sidetrack holding things together:)

[digger]

Karma is rewarding the patience of shareholders.

Karma is and was always on NZO's side. Todays report is a balancing nightmare.
I also wonder why they stopped 700 meters short of preplanned depth. Did they have drilling problems or was the resource thinning out. Maybe they estimated that they already had enough and leave the Balance[not a good word to us here] for future generations.

[Banksie]

I also wonder why they stopped 700 meters short of preplanned depth.

As this is a horizonatal drill - could it just be that there is sufficient depth to drain the reservoir? and stopping exploration drilling early would save money.

[Blue Horseshoe]

Further details of resource estimates will be provided when the data has been fully analysed.

How long are we looking at, day's, week's or month's ?

[ziggy415]

Further details of resource estimates will be provided when the data has been fully analysed.

How long are we looking at, day's, week's or month's ?
not long then its on to oi with its similar "f" sands

[Blue Horseshoe]

not long then its on to oi with its similar "f" sands

​WooHoo -------------------

[Balance]

Karma is and was always on NZO's side. Todays report is a balancing nightmare.
I also wonder why they stopped 700 meters short of preplanned depth. Did they have drilling problems or was the resource thinning out. Maybe they estimated that they already had enough and leave the Balance[not a good word to us here] for future generations.

Yes, just like they left the coal in Pike River for future generations?

[digger]

Yes, just like they left the coal in Pike River for future generations?

Balance I have to admit I always look forward to your posts with what begins as a light hearted chuckle. But never fear I will not tier of guiding you if possible to the truth,the straight and narrow.

Cheers and have a good day.

[Joshuatree]

Well looks like a winner to me , a high quality reservoir, no need to drill to planned depth, 2.5 million barrels net to us, but costs have blown out with the sidetrack Sutra to re $US 40 mill plus (our share).

Oi-1 expected to spud late may.

[boysy]

One has to question if they have simply stopped because one party doen't wish to commit more cash. Lets hope they have more than 2.5mmbls otherwise thats CAPEX of $45 a barrel i dont even want to NPV that figure.

[zigzag]

Well looks like a winner to me , a high quality reservoir, no need to drill to planned depth, 2.5 million barrels net to us, but costs have blown out with the sidetrack Sutra to re $US 40 mill plus (our share).

Oi-1 expected to spud late may.

That's nett to the JV, not to NZO. They only get 27.5% of the extra reserves.

[boysy]

Looks bad when you look at the costs required in total to get possibly 2.5mmbl the JV will need to pay USD$165M CAPEX will be USD$66 per barrel

[digger]

Looks bad when you look at the costs required in total to get possibly 2.5mmbl the JV will need to pay USD$165M CAPEX will be USD$66 per barrel

My take is that Pateke H4 was better than that that old drilling rig could handle. This last one was take three and that is after this new invention term of an undrillable structure.Never heard that one before. More likely that the JV did not want after discussing with the drill owners to carry on. This naturally is just my feelings but if I were in charge that is what I would do.

She is however capable of drilling straight down so on to OI ,but never again a horizontal drill with this old girl.

[ziggy415]

My take is that Pateke H4 was better than that that old drilling rig could handle. This last one was take three and that is after this new invention term of an undrillable structure.Never heard that one before. More likely that the JV did not want after discussing with the drill owners to carry on. This naturally is just my feelings but if I were in charge that is what I would do.

She is however capable of drilling straight down so on to OI ,but never again a horizontal drill with this old girl.
if the rig cant do what it was contracted to do i smell a discount coming on

[Balance]

Even when NZO gets it right they still can't win!

Balance having great fun sticking those pins into the doll eh?

NZOG' share of additional reserves (assuming recoverable) = 687,500 barrels = around US$70m.

NZOG's share of cost = US$40m to US$46m.

Only the likes of Digger and Joshuatree got themselves very excited - Just follow the sp as they make the announcements - it's clear those 'in the know' knew this ain't no bonanza.

Karma means NZOG can forget about any meaningful find until such time as they do the right thing morally.

From past history (good guide to the future), reserves tend to be optimistically over-stated while costs tend to be optimistically under-stated.

[Balance]

One has to question if they have simply stopped because one party doen't wish to commit more cash. Lets hope they have more than 2.5mmbls otherwise thats CAPEX of $45 a barrel i dont even want to NPV that figure.

US$25m down the gurgle basically.

Nothing will happen now until oil prices reach US$150 a barrel or more - could be 2025?

A line of nearly 400,000 NZO shares crossed - Zeta Resources swallowing hard to hold up the sp?

[Balance]

Balance I have to admit I always look forward to your posts with what begins as a light hearted chuckle. But never fear I will not tier of guiding you if possible to the truth,the straight and narrow.

Cheers and have a good day.

I think you may have to talk to your mates in NZOG about the straight and narrow? Especially when it comes to drilling for oil and the truth?

[Banksie]

NZOG' share of additional reserves (assuming recoverable) = 687,500 barrels = around US$70m.

NZOG's share of cost = US$40m to US$46m.

So a US$70m return on a US$46m investment. Isn't that a good thing?

[Balance]

So a US$70m return on a US$46m investment. Isn't that a good thing?


NZOG' share of additional reserves (assuming recoverable) = 687,500 barrels = around US$70m.

NZOG's share of cost = US$40m to US$46m.

Only the likes of Digger and Joshuatree got themselves very excited - Just follow the sp as they make the announcements - it's clear those 'in the know' knew this ain't no bonanza.

Karma means NZOG can forget about any meaningful find until such time as they do the right thing morally.

From past history (good guide to the future), reserves tend to be optimistically over-stated while costs tend to be optimistically under-stated.

If you want to comment on a comment, leave in the whole comment. Otherwise, you are doing a Snakk.

[Banksie]

If you want to comment on a comment, leave in the whole comment. Otherwise, you are doing a Snakk.

But I only wanted to comment on that part of your post - I didn't want to create unnecessarily long re-posts.

So my question still stands isn't a $70m return on a $46m investment a good thing?

[Balance]

But I only wanted to comment on that part of your post - I didn't want to create unnecessarily long re-posts.

So my question still stands isn't a $70m return on a $46m investment a good thing?

If you think it is a good thing, then it is a good thing for you.

:D

[fabs]

Stated several weeks ago, unless its a Gusher 2,5 mil. not good enough.
But probably enough, when everything is counted for the ones on the Trough for a few more years.
That ought to please quite a few on this forum by the sound of it.
Such enormous goodwill will eradicate any bad Karma at least for the management.
Not much joy for the S/H in this really.

[fish]

Far better than a miss
should make a profit despite the increased costs of the drill.
Many nzo long-term holders also are shareholders of ppp so an increased share of profits.
OI is only 8k away in same sandstone,same depth, vertical drill and similar oil trap on seismics so will be even more exciting now !

[zigzag]

Balance. Half your posts are misleading, and the rest are blatant lies. And you lecture us on morals You wouldn't even know what a moral compass is. Why don't you give us all a break and ………. off!

Seeing as Balance sounds like a stuck record, I think I will start repeating myself too.

[Joshuatree]

Thanks zigzag. Im happy re making a profit of re 33c in the dollar(hopefully, realistically}. Why are there so many sad sack holders here; stale?

[Joshuatree]

You gotta accentuuuuaaaatte the positive , elliminnnaaaate the negaatttivveeee donnnt mess with mr inbetwweeeen yass:D Halleeellluyha

[Snow Leopard]

Can anyone give a serious cost/benefit analysis with the new info? It doesn't seem at all worth it on first glance with cost overruns and share of reserves...

I am sorry but that is Fundamental Analysis and thus not available to a Short-Term Trader such as yourself.

Best Wishes
Paper Tiger

[Joshuatree]

PPP down $0.003c (down 2.73%)78550 shares $8,176 worth
NZO up 1c (up 1.29%) 495,648 shares $386,902 worth , slightly positive, certainly didn't set mkt alight

[fish]

Joshua, PPP down 1 cent (-9.5%) on the ASX. Over 3M shares traded. I'd be taking my queues from the primary on the ASX, not the secondary on the NZX...
yet another nonsensical post

[RTM]

I wouldn't invest in NZO hence why I am asking if someone else would care to do so as, frankly, it would be a waste of time for me! Could benefit others though and give us a bit of a change up from the constant bickering (or maybe this thread is doomed to never have decent analysis like another Balance and i inhabited thread?!?!).

I don't know about you guys but the PPP selloff today was not indicative of positive news at all. When the market speaks, you should definitely listen...

Hakunah Matata


Hi Moosie....one wonders then why you even both looking at the thread ? Have you not got anything better to do with your time. If not, that's a little sad.

[ziggy415]

just look at the oi well....ppp has to pay 50% of cost ......if they strike zero oh well tooo bad but if its a gusher awe and nzo can pay the costs plus some koha and ppp is left with 15%...doesnt sound like a win win to ppp

[Joshuatree]

Good point Moose re ASX and PPP

[brucey09]

Snrs.
NZO - nett $46000000.00 ? Tax royalties? Money in bank best - lowering overheads?

[arjay]

Given that the reserves estimate is very conservative we cannot discount the liklehood of a reserves upgrade, so the discovery seems like a good deal to me. DOn't get too excited though as according to Balance's view of Karma NZO can only make small profits until they shape up.

[Banksie]

I wouldn't invest in NZO hence why I am asking if someone else would care to do so as, frankly, it would be a waste of time for me! Could benefit others though and give us a bit of a change up from the constant bickering (or maybe this thread is doomed to never have decent analysis like another Balance and i inhabited thread?!?!).

I don't know about you guys but the PPP selloff today was not indicative of positive news at all. When the market speaks, you should definitely listen...

Hakunah Matata

Isn't that a little ironic given you and balance are the main instigators of the bickering.

[Balance]

Isn't that a little ironic given you and balance are the main instigators of the bickering.

We reserve the right to bring illumination and light where attempts are made to treat everyone as mushrooms.

We are happy that those who are mushrooms choose to remain so - in which case, they should desist from making spreading their spores.

Fair enough?

[Banksie]

We reserve the right to bring illumination and light where attempts are made to treat everyone as mushrooms.

We are happy that those who are mushrooms choose to remain so - in which case, they should desist from making spreading their spores.

Fair enough?

I wasn't questioning your right to post your "truths" balance, I was questioning moosies right to complain about the bickering.

[Billy Boy]

I wasn't questioning your right to post your "truths" balance, I was questioning moosies right to complain about the bickering.
,
Are Balance and Moosie the same person ????
BB

[boysy]

Look at the PPP buy depth on the NZX now ... absolutely noting except at 7 cents. Hard to put a spin on yesterdays announcement

[fabs]

NZOs share = $80Mil NZ
Costs so far = $53 " NZ
Gross take = $27 " NZ
Less Royalty,Tax and
ongoing exp. your
guess as good as = $15 "NZ
mine.
Nett = $12 "NZ

Less than 3 cents total a share from aprox. 2016 onwards, probably over 4-5 years depending on annual flow rate.
Present S/P seems to have factored that in all ready.
Any-body come up with something better than that please, please .

[Joshuatree]

Int figs FAB i can't confirm them .Will see what i can find. Two things; what will the price of oil do over that time frame( I'm guessing its around a bottom or thereabouts) and as arjay(thanks) points out the reserves est is very conservative. NZO is not a high conviction stock to me but I'm happy to be in at this moment in time.

[Balance]

Int figs FAB i can't confirm them .Will see what i can find. Two things; what will the price of oil do over that time frame( I'm guessing its around a bottom or thereabouts) and as arjay(thanks) points out the reserves est is very conservative. NZO is not a high conviction stock to me but I'm happy to be in at this moment in time.

Don't fool yourself.

"ou gotta accentuuuuaaaatte the positive , elliminnnaaaate the negaatttivveeee donnnt mess with mr inbetwweeeen yass Halleeellluyha "

[Joshuatree]

A vivid picture of you lying in a wheelbarrow with a megaphone to your lips roaring at the empty sky. Some unfortunate person is pushing the wheelbarrow.:):(

[ziggy415]

dont you guys ever do any work.....just bickering :t_up:

[fabs]

Yes depending how long one had the shares, got them for less than 70cents can pat themselves on the back maybe.
Apart from the estimated 15mil outgoings from first flow of oil my guess yes, the rest are all present day figures as per co. announcements.
Totally agree, unknowns like Exchange rates, oil prices up or down, breakdowns, cost- overruns are always possible game changers.
Co. at present not saying or do not know if the projected reserves are above or below 2.5mil barrels.
Hope that helps.
But please do your own research and let us know what you come up with.
That is where i see it to be at now.

[Joshuatree]

Hey just trying to balance things out a bit ; so much negativity but happy to stop if Balance stops;)

[ziggy415]

dont you guys ever do any work.....just bickering :t_up:
just think of how many mushrooms we could grow with all the crap on this thread

[Billy Boy]

dont you guys ever do any work.....just bickering :t_up:
When NZO start paying them to jump the fence they'll move on... Neat eh. :(
BB

[Snow Leopard]

NZOs share = $80Mil NZ
Costs so far = $53 " NZ
Gross take = $27 " NZ
Less Royalty,Tax and
ongoing exp. your
guess as good as = $15 "NZ
mine.
Nett = $12 "NZ

Less than 3 cents total a share from aprox. 2016 onwards, probably over 4-5 years depending on annual flow rate.
Present S/P seems to have factored that in all ready.
Any-body come up with something better than that please, please .

I would be interested to know where the $53M came from: The current upper end of CAPEX from the announcement is $165M which equates to an NZO share of $45M3. What have I missed?

I would guess (NZO) OPEX+ROYALITY+TAX at about $20M.

Best Wishes
Paper Tiger

[zigzag]

I would be interested to know where the $53M came from: The current upper end of CAPEX from the announcement is $165M which equates to an NZO share of $45M3. What have I missed?

I would guess (NZO) OPEX+ROYALITY+TAX at about $20M.

Best Wishes
Paper Tiger

Fabs is working in NZ$. Maybe this is the difference.

[Banksie]

I would guess (NZO) OPEX+ROYALITY+TAX at about $20M.

So working on $100 a barrel I get :

687,500barrels*$100 - $46m (NZO's upper end estimate of costs) - $20m (from PT) = $2.75m.

which doesn't look like a very good return.

[zigzag]

So working on $100 a barrel I get :

687,500barrels*$100 - $46m (NZO's upper end estimate of costs) - $20m (from PT) = $2.75m.

which doesn't look like a very good return.

If they are only getting 2.75m, then the tax and royalties figure looks way out of kilter. Remember also that this is just an extension of the Pateke field, so all the infra-structure is already in place, so any extra is all icing on the cake.

[ziggy415]

If they are only getting 2.75m, then the tax and royalties figure looks way out of kilter. Remember also that this is just an extension of the Pateke field, so all the infra-structure is already in place, so any extra is all icing on the cake.
call me phik but shouln,t the 2.75 be 27.5

[ziggy415]

call me phik but shouln,t the 2.75 be 27.5
and are we talking $us

[ziggy415]

call me phik but shouln,t the 2.75 be 27.5
oops ,read the figures wrong....2.5 ok

[Banksie]

All USD.

The only unknown is the $20m. I am trying to split this out for Tui from last years annual report - without much success so far.

[Balance]

NZO - down, PPP - down.

Share market has given its verdict - this is a dude find which will become part of Digger's famous 'leave it for future generation'.

[Snow Leopard]

My workings: all in USD

OPEX for TUI is unknown so I guessed about 15% - maybe it is lower given that it is existing infrastructure, but it is a safe guess.

5795

Best Wishes
Paper Tiger

Disc 1: an ?educated? guess - do not buy, sell, day or short term trade based on anything in this post.

Disc 2: A drink of black coffee is permitted.

[boysy]

It will all come back to production profile and how much oil is down there but at present it looks like this drill has not added any value to any parties. Still plently of risk however lets hope the 2.5mmbl estimate was conservative however with only 700m horozontal not looking that great.

[Snow Leopard]

Cheers PT, you deserve much respecto! I'm guessing this assumes no further costs through infrastructure etc? $10M is cutting it very thin...

It assumes that CAPEX comes in at the upper end of the range.

You can change the:
amount of recoverable oil;
the price received for the oil;
the capex;
& the opex.

The rest follows from that.

As presented net profit is 14.4% of sales.

Cash flow should be excellent. :t_up:

Disc: Do not hold NZO - Would buy some if it would annoy Balance :D

[fabs]

Nearly missed the important one:
Hefty bonuses for the management team, hate to make an educated guess but the sky is the limit, for reimbursement of nearly 10 years hard work to finally increase S/Hs wealth.

[Joshuatree]

Excellent thanks for your input cheers PT ps a little lonely on the O;)RE thread here

[fish]

Joshua, PPP down 1 cent (-9.5%) on the ASX. Over 3M shares traded. I'd be taking my queues from the primary on the ASX, not the secondary on the NZX...

Its a pity balance and moosie cannot see why this is nonsense.
English and analytical lessons clearly needed

[jonu]

Disc: Do not hold NZO - Would buy some if it would annoy Balance :D

I reckon your next discl would be making a declaration of being a holder then PT

[Balance]

I reckon your next discl would be making a declaration of being a holder then PT

Who cares?

One more mushroom for the directors to feed horse dung to.

:D

[ziggy415]

i think the 2.5 million for pateke is a bit low but to be sure i went to borrow balance,s majic divining pole, you just point it and give it a rub and it tells you how much liquid is under your feet,,,,,called around and he was wandering round his back yard with it in his hand giving it a rub and mumbling about nzo dog mumble mumble ...digger is sceptical and thinks its just a bone but moosie thinks it is a five legged horse

[Balance]

Its a pity balance and moosie cannot see why this is nonsense.
English and analytical lessons clearly needed

When you are in a hole, stop digging.

Or in the case of Noggers, when you hit a dry hole, stop going horizontal.

:D

[fish]

Its had me amused why only moosie and balance cannot see why it is so obviously nonsense.
More evidence they are the same person.

[Xerof]

Greetings from Kew
One could be excused for taking a cue from yesterdays selling queue

:sleep:

[notie]

even the low hanging fruit is hard work for these guys. Wait until NZOG drill some wells...that will be fun

[Joshuatree]

Jeezus fish stay peddanttic in yore own fore walls such a picky fishy in a dishy with a scoop of chippease downed wiffa cup of hot fatt!!:t_up: Off to the 5000 week spellathon u goeth.

[Joshuatree]

Repeettitithiinn

[skid]

even the low hanging fruit is hard work for these guys. Wait until NZOG drill some wells...that will be fun

He's Back!!

[zigzag]

Poor old Balance. He must have nightmares about noggers. In fact, he probably sees a nogger behind every wood-pile.

[Balance]

http://www.stuff.co.nz/entertainment/music/10029976/Music-for-miners-and-new-mates

And where are the directors of NZOG?

[brucey09]

Snrs,
Where is your Snr. Whittle. In mine 1st? Yes?

[Balance]

Snrs,
Where is your Snr. Whittle. In mine 1st? Yes?

Quick to claim credit, but last to admit responsibility - that seems to be the DNA of anyone associated with NZOG - be them directors, management, seconded staff or supporters.

See how Gordon Ward is still hiding out in Australia ? Well, good riddance to that convict colony.

[ziggy415]

Quick to claim credit, but last to admit responsibility - that seems to be the DNA of anyone associated with NZOG - be them directors, management, seconded staff or supporters.

See how Gordon Ward is still hiding out in Australia ? Well, good riddance to that convict colony.
balance..when you post something thoughtfull, measured and backed up by facts and statistics this thread starts to hum but as soon as you get on your soap box and waffle about pike people dissappear...your a slow learner

[Balance]

balance..when you post something thoughtfull, measured and backed up by facts and statistics this thread starts to hum but as soon as you get on your soap box and waffle about pike people dissappear...your a slow learner

So be it.

Do I look like I care?

Running from the truth is the mark of cowards.

And we know Gordon Ward, Tony Radford etc are cowards - of the most despicable level.

Only the truth will set NZOG free.

[Snow Leopard]

So...
with the current hole nearly done:
and the next one to start in a couple of weeks;
and the chances of a commercial oil strike being a bit better than usual (every time Balance sends negative waves to this thread a few thousand barrels more magically add themselves);
and there possibly being a reasonable amount down there (up to 13.5M barrels (and rising)?)
and NZO not having to front up there full share of costs if it is a bust;
and NZO being able to buy into any success.

Will we see any of:
the old excitement on this thread;
the rising share price in anticipation;
even more inane chatter than the PEB thread.

Best Wishes
Paper Tiger

E & OE

Waits for Balance to do his usual tedious thing as usual.

[Snow Leopard]

Gordon Gekko: If you're not inside, you're *outside*!

Most of our Geckos live inside.

Best Wishes
Paper Tiger

[the machine]

So...
with the current hole nearly done:
and the next one to start in a couple of weeks;
and the chances of a commercial oil strike being a bit better than usual (every time Balance sends negative waves to this thread a few thousand barrels more magically add themselves);
and there possibly being a reasonable amount down there (up to 13.5M barrels (and rising)?)
and NZO not having to front up there full share of costs if it is a bust;
and NZO being able to buy into any success.

Will we see any of:
the old excitement on this thread;
the rising share price in anticipation;
even more inane chatter than the PEB thread.

Best Wishes
Paper Tiger

E & OE

Waits for Balance to do his usual tedious thing as usual.

Paper - I am excited about Oi and bought more PPP and NZO for the ride.

success @ Oi will upgrade the NZO prospects further north.

With all the gas that's come out of Taranaki then if oil/gas is relative, there is still a lot of oil to be discovered

Oi could be first part of that process

M

[digger]

Paper - I am excited about Oi and bought more PPP and NZO for the ride.

success @ Oi will upgrade the NZO prospects further north.

With all the gas that's come out of Taranaki then if oil/gas is relative, there is still a lot of oil to be discovered

Oi could be first part of that process

M

Your a low bum NOG supporter and by definition a mushroom . Enough said.

[dsurf]

i think the 2.5 million for pateke is a bit low but to be sure i went to borrow balance,s majic divining pole, you just point it and give it a rub and it tells you how much liquid is under your feet,,,,,called around and he was wandering round his back yard with it in his hand giving it a rub and mumbling about nzo dog mumble mumble ...digger is sceptical and thinks its just a bone but moosie thinks it is a five legged horse

LOL - Are you renting Balances pole and what is the rate per half hour? Also I am surprised this time of year you did not hear mumbling about "NZO dog mumble mushrooms everywhere mumble pike mumble god will atone for thier sins mumble directors snorting from trough mumble".

[ziggy415]

LOL - Are you renting Balances pole and what is the rate per half hour? Also I am surprised this time of year you did not hear mumbling about "NZO dog mumble mushrooms everywhere mumble pike mumble god will atone for thier sins mumble directors snorting from trough mumble".

the rate is pretty good...he only charges by the inch

[arjay]

Machine, I also am excited by Oi. Some time ago someone posted this link to Richard Sykes presentation on where various Taranaki oil charges might come from: http://www.nzpam.govt.nz/cms/pdf-library/petroleum-conferences-1/2013/presentations/1-richard-sykes-some-constraints-on-the-charging-of-tui-maui-and-maari-fields-offshore-taranaki-basin-16x9.pdf Since then Matuku has come up negative so I am thinking this this lessens the liklihood of the Tui charge coming from the west (Kahurangi trench) and therefore improves the chance it comes from the Maui area. If so might this favour a charge into Oi as well? Maybe Spirit can comment as he is more up with the technical stuff.

[digger]

Machine, I also am excited by Oi. Some time ago someone posted this link to Richard Sykes presentation on where various Taranaki oil charges might come from: http://www.nzpam.govt.nz/cms/pdf-library/petroleum-conferences-1/2013/presentations/1-richard-sykes-some-constraints-on-the-charging-of-tui-maui-and-maari-fields-offshore-taranaki-basin-16x9.pdf Since then Matuku has come up negative so I am thinking this this lessens the liklihood of the Tui charge coming from the west (Kahurangi trench) and therefore improves the chance it comes from the Maui area. If so might this favour a charge into Oi as well? Maybe Spirit can comment as he is more up with the technical stuff.


Spirit was particularly hopeful of Matuku, but alas with oil explorations oil is after all this technology still where we find it, and all too seldom where we think it should be. Oi needs to be drilled and I am hopeful for whatever use that is. Does anyone remember the Taranui drill about 6 years ago. It found oil and I was told by an NZO director was nearly economical. Taranui is located further away from Pateke but on the same north north east path. So for some years now I have wondered why Oi was not drilled soon after the TUI discovery and then if it was successful step out towards Taranui. So I am very interested in Oi. End of June we should know.

[the machine]

Spirit was particularly hopeful of Matuku, but alas with oil explorations oil is after all this technology still where we find it, and all too seldom where we think it should be. Oi needs to be drilled and I am hopeful for whatever use that is. Does anyone remember the Taranui drill about 6 years ago. It found oil and I was told by an NZO director was nearly economical. Taranui is located further away from Pateke but on the same north north east path. So for some years now I have wondered why Oi was not drilled soon after the TUI discovery and then if it was successful step out towards Taranui. So I am very interested in Oi. End of June we should know.

yes I remember Taranui and am thinking that is why nzo went into the next permit just north of it.
also there is another big prospect even closer to Tui that has never been drilled either

end of june - bring it on

M

[arjay]

Spirit was particularly hopeful of Matuku, but alas with oil explorations oil is after all this technology still where we find it, and all too seldom where we think it should be. Oi needs to be drilled and I am hopeful for whatever use that is. Does anyone remember the Taranui drill about 6 years ago. It found oil and I was told by an NZO director was nearly economical. Taranui is located further away from Pateke but on the same north north east path. So for some years now I have wondered why Oi was not drilled soon after the TUI discovery and then if it was successful step out towards Taranui. So I am very interested in Oi. End of June we should know.

It's not surprising that those who supported the view that the oil charge came from the Kahurangi trough would have had high hopes for Matuku. However, a lack of oil at Matuku suggests that the Tui area charge came from elsewhere. Interesting you mention Taranui - the Sykes presentation shows that Taranui oil has the same basic fingerprint as Maui and Tui area oils. So does Kopuwai, so if the migration paths are there it doesn't seem unreasonable that a charge moving north and west from Maui would top up Oi as well as other reservoirs. Nice to dream anyway.

[Balance]

US$25m down the gurgle basically.

Nothing will happen now until oil prices reach US$150 a barrel or more - could be 2025?

A line of nearly 400,000 NZO shares crossed - Zeta Resources swallowing hard to hold up the sp?

https://www.nzx.com/companies/NZO/announcements/250538

As predicted, the last big spender Zeta, desperately holding up NZOG's sp as other holders move on in disgust.

If you believe in NZOG, buy Zeta - deeply discounted entry.

What happens though when Zeta (with its limited funds) runs out of dosh to hold up NZOG's sp?

[ziggy415]

https://www.nzx.com/companies/NZO/announcements/250538

As predicted, the last big spender Zeta, desperately holding up NZOG's sp as other holders move on in disgust.

If you believe in NZOG, buy Zeta - deeply discounted entry.

What happens though when Zeta (with its limited funds) runs out of dosh to hold up NZOG's sp?
WHOA ??????"if you believe"..............."what happens"..........."buy zeta"....is balance mellowing to us noggers......not a dog or mushroom or mongrel director any where to be seen in his whole post..Is this the "new" Balance were seeing......ha ha

[Balance]

WHOA ??????"if you believe"..............."what happens"..........."buy zeta"....is balance mellowing to us noggers......not a dog or mushroom or mongrel director any where to be seen in his whole post..Is this the "new" Balance were seeing......ha ha

Zeta states its NTA at 82c and sp is 58c - so 30% discount.

Now why wouldn't you buy Zeta if you believe in NZOG? Almost equivalent to buying NZOG at 77c less 30% = 50c !!!!!

Can't say I do not try to help the mushrooms out with a dash of sunlight.

:D

[ziggy415]

Zeta states its NTA at 82c and sp is 58c - so 30% discount.

Now why wouldn't you buy Zeta if you believe in NZOG? Almost equivalent to buying NZOG at 77c less 30% = 50c !!!!!

Can't say I do not try to help the mushrooms out with a dash of sunlight.

:D
cant argue with facts

[ziggy415]

how do you value oi well with regards to nzo...if the well is dry is it only the cost to drill..say $us 10 million ( nzo share) or does the impact on the life of the tui rig come as a cost as well.....oppossingly if the well comes up with 10 million barrels what value to tui and do they leave their vested interest at 18% or do they go back to 27% as per the pre drill agreement with ppp and what is the cost to nzo to return to this level...:confused::confused::t_up:

[digger]

how do you value oi well with regards to nzo...if the well is dry is it only the cost to drill..say $us 10 million ( nzo share) or does the impact on the life of the tui rig come as a cost as well.....oppossingly if the well comes up with 10 million barrels what value to tui and do they leave their vested interest at 18% or do they go back to 27% as per the pre drill agreement with ppp and what is the cost to nzo to return to this level...:confused::confused::t_up:

Hey that is the question. Here Balance is indeed right {just as a stopped clock is right twice a day] that we are kept in the dark. Now what is the rest of it .Something about being fed s--t and being a mus----m
No we do not know what the facts are with this drill. We do not even know if PPP can keep the discovery if one exists, or how much can be bought back and at how much.
Bloody mushroom.

[Onthemoney]

Hey that is the question. Here Balance is indeed right {just as a stopped clock is right twice a day] that we are kept in the dark. Now what is the rest of it .Something about being fed s--t and being a mus----m
No we do not know what the facts are with this drill. We do not even know if PPP can keep the discovery if one exists, or how much can be bought back and at how much.
Bloody mushroom.

The non disclosure re the buy back with PPP is very poor for all parties. Really want to know more specifics about this.

[boysy]

I believe some time ago I heard the buy back premium is 7x cost of drilling the well would be good to have clarification around it

[Onthemoney]

I believe some time ago I heard the buy back premium is 7x cost of drilling the well would be good to have clarification around it

Cheers boysy. Do you have any reference where you heard that?

[boysy]

Years ago will see if I can find a link

[Onthemoney]

Years ago will see if I can find a link

Pretty sure the buy back was pretty recent ie PPP took holding to 50% with buy back clause written in with no details. All sercret squirrel stuff since.

[Mr Tommy]

Bit about Zeta / NZOG

http://www.stuff.co.nz/business/money/10077195/Sizing-up-investment-options

[Balance]

Bit about Zeta / NZOG

http://www.stuff.co.nz/business/money/10077195/Sizing-up-investment-options

Good commentary by Tim Hunter.

In line with the assertion of yours truly here that Zeta offers a hugely discounted entry into NZOG.

Downside is Zeta's investment track record (minimal) - not great so far and they are the only ones popping up the share price!