Could be, but this is not new news - gets wheeled out every time there is a rise in the prices of NZO and PPP
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Could be, but this is not new news - gets wheeled out every time there is a rise in the prices of NZO and PPP
Tui continues to produce above expectations -with nzo share 900,000 barrels so far this financial year so with a little less than 4 months to go should be well above the 1.1 million .
Prices obtained slowly improving-06/03/09 US$48.31 NZ$96.14
27/02/09 US$46.63 NZ$93.09
20/02/09 US$47.14 NZ$92.12
13/02/09 US$49.50 NZ$94.99
06/02/09 US$46.96 NZ$90.99
30/01/09 US$48.31 NZ$94.91
23/01/09 US$46.01 NZ$86.81
16/01/09 US$47.43 NZ$86.74
09/01/09 US$48.23 NZ$81.50
02/01/09 US$39.83 NZ$67.99
Has anyone calculated how much cash kupe is likely to generate-?starting next quarter
this might free up an extra hole for awe, inturn tui if origin scale it back to just 1 hole - the rig is kan tan iv
OMV pulls out of NZ block
(Thursday, 12 March 2009)
AUSTRIAN giant OMV has withdrawn from a large licence in the offshore Northland Basin, New Zealand, leaving Origin Energy to contemplate the prospect of having to fund and drill two wildcat wells on its own in late 2009-early 2010.
Full Story...
M
I was thinking the same thing. NZO and PPP sp up maybe due to funds indexing.
combined with last years final dividend then those who paid nz$1.50 last june are almost back in the money [less holding costs]
if opec cuts production again then that will help sp quite a lot.
will be interesting what happens next week assuming the nz$1.50 is reached - will people bail out or stay onboard?
bail out to what though?
M
Will some one please confirm when Kupe poduction suppose to comence!
2nd or 3rd quarter?
You are sounding like you know something but don't know its source Nita..... Too many intoxicated nights?
Recent targets have all been hit haven't they?
Not very scientfic reasoning i know but the market seems to think Kupe will be in operation by september. It seems to me that with 6 months to go prior to production the market starts to factor in some future income.I put NZO recent rise down to KUPE nearing production and starting to get factored in and that effect seems to get on the market radior with about 6 months to run.
This is not a lasy bet Nita but Mr market if you can find him will have you on.
I guess the recent rise is based on some obvious increases in the dow and oil prices. I think more importantly that someone is building a little stake in nzo. The next few days or couple or weeks will give us a clearer picture.
Another significant point in my opinion is the decrease on interest rates. Investors are going to want higher but safe returns. Therefore the companies like NZO and PPP along with other companies with strong balance sheets are going to be even more attractive.
Infrastructure, energy and high yielding companies will likely to stand out in the current environment.
Iliquid stock. It moves when there is an order. Once the order finishes the sp usually comes back down. Everyone is climbing on board expecting OPEC cut to boast oil price, but the fundamentals are telling us a very different story. World growth deflation will make sure oil price dont go too much higher.
According to analyst report NZO revenue should be down this year due to decreasing oil reserve. Gas revenue dont start till next year.