Keep dreaming the price up folks, like surfin waves backwards LOL
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Keep dreaming the price up folks, like surfin waves backwards LOL
from nzo website
Production Performance (since 30 July 2007)
As at 17 March 2008: Approx 9.8 million barrels produced, 9.4 million barrels shipped.
NZOG's share of production to date: Approx 1.23 million barrels.
the 10m barrels is getting closer.
If it is reached this fri/sat - will they be allowed to annouce it as markets closed?
M
What's so special about 10m barrels? Is there a special bonus for the directors and management, or something?
significant milestone
I believe you! Started buying NZO at 26 cents and have not looked back (I am glad I did not listen to my broker on NZO)
Picked up another 50K in rights issues last year ( which included 1xNZOOD for every NZO). currently up 25% in 1 year on that decision so not complaining.
Sold all my GPG, FPH, FPA, TWR amogst others a few years back and pretty much have 90% of my portfolio in NZO and PRC. In todays climate I think I could have done a lot worse :)
Chippie,
You are a good man.Reminds me when I sold a whole lot of rubbish and put the lot on NZO!!!...and that was at 26 cents!!
Hey, I have sold down a lot to get into some very exciting CSM plays in Queensland. BOW, VPE ,RPM etc. But I still have a 100k for sentiments sake and after having had dinner with Salisbury and the Directors...I am so glad I did.
This is fast turning into a class company.
thanks for that article Chippie...
Little CUE energy gets more of a mention than mighty NZO...
CUE is One of my favourite oilers... it has an exciting year and it has held up very well recently...
We have many oil stocks falling around us and yet NZO is up and CUE is the more of less the same... cant complain...
Next major NZ production of Maari is coming up later this year so put CUE on your watch list...
I am looking to get a position in CUE (at some stage) B4 production, after being in and out a few times over the last 4-5 years.....
Later...
:cool:
.^sc
Hey Shrewdy,
Albers is brilliant mate. This stock has a lot of credibility but there are a lot of others out there with more leverage.
It wont be a problem ( I saw the videos at the conference) but I just hate getting involved in subsea heating.
A little tip for anyone wanting to make a 30% gain.
Buy Octanex.Another Albers masterstroke. DYOR and you will see why.Not on the main board. Believe me guys, I know all about this one. I havent got any but we all deserve a few tips and this one is for you. Not a ramp. Just a matter of fact and sharing the info for anyone interested.
Still waiting on AKK? Glad I stuck with VPE over the last week.
Cheers my AMIGO!!
Disc NZO,PRC, BAS ( Albers ),BOW, PES, RPM( beautiful ), VPE, VPEO.
Whats the ticker for Octanex Brermuda? Couldnt find it on the ASX :confused:
[QUOTE=COLIN;190283]What's so special about 10m barrels? Is there a special bonus for the directors and management, or something?[/QUOTE
expect
tui partners will make a big announcement
ppp will highlight their 1m share
nz gov't making a big issue out of it
a lot of press coverage in nz and selected oil publications
sp goes up
Please remind me in 2 weeks time what happenned
M
Bermuda, you out there?
What's your take on the upcoming Momoho drill in May? Would expect to make a serious killing on the options if it encounters signifcant hydrocarbons
Hi Trackers,
Just been for a jog around the Wanaka foreshore. Man it's nice down here.
Anyway my take on the Kupe project is
1.The drilling and pipelaying has gone better than expected
2.The Onshore facilities are coming along nicely
3.More than two thirds of the revenue will come from the liquids.
4.The pipeline has 3 times the required capacity because they are confident of further finds in the CFA and at Momoho.I would be guessing but a strike at Momoho could lead to a total area upgrade of at least 50%. With comparitively little extra capital cost.
Am going up there next week so will keep my eyes and ears open.
Cheers mate.
Would have been good to have a quick beer at the Speights Alehouse but have to return early. MIL has broken her hip.Not looking good.
Enjoy the Airshow and the big Globemaster. Weather is perfect.
Bush's enthusiasm for the US economy reminds me of his enthusiasm when he announced that IRAQ was now free. ..and that was over 4 years ago. what a dipstick.
NZO is going really well with alot of support starting to come from across the Tasman.
Good stuff, good result...good upgrade
Quote:
19 March 2008
TEN MILLION BARRELS OF TUI OIL
Another production milestone is about to be reached by the highly successful Tui
oilfields off the coast of Taranaki.
New Zealand Oil and Gas Ltd (NZOG) is the New Zealand-based partner in the
Tui Area Oil Fields, with a 12.5% stake.
This morning total production to date had reached 9.93 million barrels and the 10
millionth barrel of Tui oil is expected to flow tomorrow or Friday. The production
milestone comes less than eight months after production began on 30 July last
year.
The field performance has continued to be better than forecast, with production in
February averaging 44,000 barrels of oil per day. Associated water is being
produced from the field, but this continues to be at lower rates than expected from
original field simulation models, allowing the high oil production rate to continue for
longer than anticipated.
Since the start of production a total of 30 shipments of crude oil have been lifted,
with the 31st lifting scheduled for today. The oil is sold into the east coast of
Australia or southeast Asia and is typically sold against the Tapis benchmark,
which is currently over US$110 a barrel.
The strong field performance since the start of production has led to a
further upwards revision of Tui’s oil production target for the year to 30 June
2008, to 13 million barrels. NZOG’s share is over 1.6 million barrels.
The pre-production forecast for the 2007/08 year was less than 10 million barrels;
with NZOG’s share around 1.2 million barrels.
Tui’s proved and probable (2P) reserves were revised upwards by approximately
50% in November 2007 to 41.7 million barrels. Based on the continued
performance of the reservoirs, the operator AWE is initiating a further reserves
review to match field performance against actual and expected production. This is
expected to be completed by the end of June 2008.
NZOG Chief Executive David Salisbury said Tui continues to deliver good news.
“The combination of record international oil prices, outstanding production
performance and a 50% increase in reserves, has made Tui an extremely
profitable investment”.
Tui is New Zealand’s largest oil producer and has helped set new export records
for the country since production began.
ENDS
Tui upgrade coming people, looking very good value at these levels..
Disc: Long NZO