But why would you sell knowing the extra capacity of the pipeline.??? Obviously the sellers didnt think it through.
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NZO should issue another option for the punters. Maybe a $1.90 Dec 2011?
(Saw the drilling announcement - Wahoo, no probelmo). Anyway faults can be 'helpful' by offsetting the gas/oil bearing sandstone with a nonporous shale or whatever - unless you have a shatter zone (Wellington is full of shatter zones - and folks here have actually built houses over them, which seems a bit silly to me - - but at least they won't get oil bubbling up in the garden!) but then at depth - rock behaves more like plasticine (over geoligical time) so at 3,000 metres - maybe it's ok. Actually, come to think of it - PRC is drilling through a shatter zone at the Hawera fault - and they expect gas - so maybe you are right to shudder at the 'F' word.
have just bought more nzo-thanks to margin lending and instant funds
SP hasnt moved since the announcement =in fact seems to be increased selling pressure
Well one day the market will wake up to how good a share nzo is-in the meantime its a real steal
"good shows of gas" eh ?
Easy to be positive about that announcement as we just ease into the target zones, long way to go yet of course.
I guess there will be a flare off going on at the rig, mmmn hope Sue Kedgeley et al can't see it, then again if they could see it we end up with a good bit of nog publicity.
Blockhead likes the sound of this `
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Quote:
"The well encountered good gas shows upon penetration of the primary Farewell
Formation reservoir target at 2896m."
Excellent news ..... and Momoho-1 is being drilled into the top of anticline .... heres hoping the gas shows (to be confirmed by electric logs) will continue downwards through the anticlinal section for 10s, or dare I say 100s, more meters of gas and ending up with hopefully an oil layer at the bottom !!
Gas floats on oil, which floats on water !!
The crucial questions will be what are the depths to the Gas - Oil Contact (GOC) and the Oil - Water Contact (OWC).
If the Momoho structure has recieved hydrocarbons like the Kupe Central Field Area, which has an oil layer below the gas, then we can expect the Momoho-1 drill to also encounter an oil layer. In support of this is the Kupe South-5 well which is just 1.2km to the south-east of Momoho-1 and KS-5 flowed 2300 bopd when it was drilled back in the late 80s.
The deeper the gas and oil water contact numbers the better, the thicker will be the gas and oil accumulations !!
Z
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Anyone study the latest Director interest notices, released after the NZ market closed? Several directors have increased their interest through the exercise of options. Not large numbers of options held and subsequently exercised by them however.
Radfords disclosure notice is interesting. It relates to his indirect holding interests. Some options were allowed to lapse, others were sold for 2 cents. Last week a super fund in which he has an indirect interest sold NZO shares. Is this a bit of a worry? He may not have had any influence over this fund.
The momoho announcement today has had virtually no impact on the share price - a bit surprising but perhaps current shareholders are too stretched having exercised options, and potential new holders are waiting for a more definitive announcement.
Fish, I would be careful about getting too highly leveraged.
If it was good news the market didn't react mind you it was a poor day again so understandable?