Arjay and i saw it at the Rialto hamilton. Zobrah probably in Auckland somewhere.
Printable View
I think it's finished at the Rialto in Hamilton Digger. I saw it up the road at Victoria's (you can have a beer there!).
Good points Bermuda. I guess many people will keep paying higher petrol prices to maintain their car addiction (at least until the grocery money runs out), however high petrol costs is one thing - a fuel shortage is another. Fuel queues, rationing and the return of things like car-less days will wake people up. The most sobering aspect of A Crude Awakening to me was not related to transport fuels, but other uses for oil. They made the point that the eath's human carrying capacity (now nearly 7 billion) without cheap oil to make cheap food (fertilizers) is around 1-1.5 billion. That leave's 5 billion people to.......(well, you know). Still, I guess the rest of the planet will breathe a sigh of relief. Unless of course certain world leaders try to grab a bigger cut of the diminishing pie and throw a few bombs around.
ASX up 4, and there's a new announcement. Good news maybe? Can someone post it, I can't get it yet.
Edit - here it is, listed as price sensitive by AWE but not PPP or NZO
AWE Ltd (“AWE”) reports that the Taranui-1 well is being plugged and abandoned and
at 0600 hours today was completing operations prior to the release of the drilling rig
from the Taranui location.
During the week, a comprehensive suite of wireline logs were successfully completed,
including pressure testing and fluid sampling of both the Kapuni F and D Sands. A
small volume of oil was recovered from the Kapuni D sands during this sampling
programme. The data is still being reviewed, but initial indications are that these
zones will not be commercially significant.
Following completion of the abandonment operations at Taranui, the rig will move to
commence operations on West Cape-1 in PEP 38481
1...wanna beat... a supply side constraint could change NZO dramatically... oil $100 -> how many barrels net to NZO a few million right... say 4m.... whats $30*4million mackdadunk... (very rough calc)...Quote:
mackdadunk-
1....The price of oil wont make to much difference to your oil shares.
2.....The companies will be spending more finding less, or do you think they will stand still until they go under with nothing left to sell?.
3.....The various GOVTS will tax the last oil to the hilt.
4..... The shareholders will be left as usual in the end with slim pickings.
5....Most of the oil is undiscovered in the artic and antartic regions of the world so look forward to a bit of global warming to uncover that lot.
6.... Lots of water to flow under the bridge before we need to really be concerned. With NZO we know what they have got, but whats next is more to the point, where to from here?. Macdunk
2... Yes companies will be spending more as industry costs rise due to demand increase as price of oil rises..., but technology improvement is increasing success rate of oil stirkes to offset some of this, as well as higher oil prices decreasing project risk... shell, and spec oilers will be hit the most by rising industry costs...
its no different for any other industry that faces increased costs..
3...yes Tax is a component of This industry, as oil creates externalities...
no different for other industries
also depends which country you are in as to how you get treated... NZ govt has made it attractive enough for the oil majors to attack the GSB....
4....Somehow I dont think that I will be left with slim pickings... depends on what stocks you hold...theres big growth plays in this industry...
5....Yes global warming is an issue, and many see gas as the future of this industry...im not debating global warming with you MD, you never listen...
:D
6.... As you know mr mackdadunk, NZO is in the process of getting 3 projects up and running... and now NZO is down to two projects to get kick started.... The First project - Tui, was a major success, reserves upgrades, full flow rates with little problem other than a slight delay...
... NZO now has solid cashflow and how they grow from here is anyones guess, But NZO DONOT need to gain other assets, new projects to get SP growth... NZO has the growth channel set and exploration success from here on in is a bonus, NZO will sail when Pike gets sorted... Dividends are a major issue and I will be raising my points at the AGM if I go... NZO should be looking for a strategy of gaining acerage and farming down big chunks and be free carried, or close to it....
three diversifed producing projects will make NZO a lucurative investment...the ones that spot it early will be better off... markets will determine what happens
NZO will be a long term cashcow.......Pike is discounting NZO big time...
....
Mackdadunk, recently you have been posting where your not really having ago at NZO but your referring to the oil industry as a whole...And you dont sound like a fan of it after getting burnt by NZO... yourve been scared away by one oiler that didnot go in your way of thinking at the time, and now you understand more about how companies re-rate .... dont let that scare you away mate... making a stance against the oil industry is a bad move on your part...
lata...
:cool:
.^sc
SHREWDY, I noticed you were smart enough to get out of NZO even although it was a little late in the play. You managed to join me on the other side of the ditch to take advantage of our over priced dollar. I dont care if a company drills for oil or manufactures atomic weapons as long as the sp trends up if my money is in it. I Find the miners are easier to predict, and just as volatile, with less chance of coming a gutser as spec oilers.
Interested in your opinion on the options. I say its pass the parcel at the end, i cant see the sp increase by a third in ten months unless NZO start a big buy back to raise the share price. A good TA exit strategy would have scored you a big win with NZO, make sure you follow PHAEDRUSES exit system with your CUE. Look forward to meeting you again sometime, dont get to hung up in any company. They are only there to make us money no more and no less. MACDUNK
So, they've spent a whole week at Taranui, (and still not finished), since last week's announcement. Running further tests. Probably not commercial quantities of oil they say, yet they spent a lot of time there making sure. Expensive time - let's hope they found some useful data to add to the big picture of the whole area.
No DaDunk needs 100% to get the ood's down to his price.
JEEZE I was only taking easy on my mate SHREWDY. If you work it out from the other end $1-50 against a dollar today it is a third. But regardless of my bad mathematics, what do you reckon the parcel is worth in ten months time?. Unless they buy back the shares to raise the price the options have had it. The question is have they got enough up top to work it out?. I dont think they will have the brains to manipulate the price then sell back to the gullable at profit. Macdunk
You never answered the question C-MON be a winner sixtiyniner what are the options worth on the last day?. My old mate SHREWDY tried to teach him how to strut like MVT, hopeless case mate, hopeless, but he will come right with a good boot up the backside. Shot over to AUS dumpted his bundle here, the money is still worth something over there. Macdunk
Why don't NZO release the following type announcement.
"We are making a lot of money. We know that PRC is seriously undervalued. We are going to increase our stake by buying on market up to 5% of PRC."
The PRC price would have to increase given only 128K on the offer & then the NZO price would follow & then the ood's would too
I really dont want to disillussion you but if they did that, then bastards like me would buy up big then sell back to the blue eyed brigade. The truth is nobody knows the value of PRC until the numbers come out. The traders would take you to the cleaners mate. MACDUNK
mackdadunk,
I hung onto the ods Initially because I was going to get out at the top of Hector, and thats what I told others here and around.... But at the top of hector ODs were 23cents and they had been much higher than 30cents at one stage (34,34?)... OD's were 23-4 cents just before final announcement for Hector.... so I felt that I may just aswell hold through, and then ODs fell to below 20cents that day after ann came through... Tui first production was delayed, And I thought Tui first production would offset bad hector and Taranui drill because it is a monster asset of NZO's....When I realised that the reratings had come and SP wasnt moving then I sold, and the reserves upgrades announcement made no impact on the fact that it came after id sold...... First production ann was made on one of the worst market days of the year...I showed my inexperience with my portfolio when the market pealed like banana, I admit that....asset protection was more important than if I was right or wrong...
.... I can still soldier along and build...
and right now had market held strong,....
NZO would be around $1.3 where I said it would be... Id be sitting on a 2bagger here cackling... In the end I got quarter of that return from nzood...
the whole re-rating process that I felt I understood was blurred by the market conditions, and the markets no confidence with NZO made it worse, Pike compounded when that flopped....so maybe Market looked at AWE for direction of NZO on how to rerate TUI... AWE barely moved... AWE has its own project problems and is not appropriate for guidance of NZO and maybe market didnot understand this...
.....This 3 project company of NZO is misunderstood ...The lead up to Hector, SP should have been real strong with no selling off and buyers chasing, but it was getting sold and falling...In the end the market hasnot given a stuff about Tui production and SP and nzood is not much more than what it was when I was first raging bull to buy this one..... Pike is discounting NZO further too...
....
I do believe that ODs will be in the money next year as long as the NZX50 is around 4000-4500+ points.... It will be no problem if market is convinced that production at pike is a dead cert... and first prduction begins before option conversion, it may take one big buyer such as an institution or the Indians buying in the end to get the ODs over the line... Its a dammn big call... And I did make a beat with you mackdadunk that you never replied to... and that was if nzood are converted in the money then you would come to the national convention?
your coming anyway, why not just make it into abit of a story...:D...
:cool:
.^sc
Hi Fellas just out......
11/09/2007
MINE REL: 1310 HRS New Zealand Oil and Gas Limited MINE: NZO: NZOG'S TARANUI-1 DRILLING REPORT New Zealand Oil & Gas Ltd ("NZOG") reports that the Taranui-1 well is being plugged and abandoned and at 0600 hours today was completing operations prior to the release of the drilling rig from the Taranui location. During the week, a comprehensive suite of wireline logs were successfully completed, including pressure testing and fluid sampling of both the Kapuni F and D Sands. A small volume of oil was recovered from the Kapuni D sands during this sampling programme. The data is still being reviewed, but initial indications are that these zones will not be commercially significant.
SHREWDY, Its not if this happened or nobody understands the company, all that matters is will the sp rise or fall. I dont give a damn about a company, they are only employed by me to show a rise in the share price. I couldnt care less what they get up to, as long as the sp trends up, and if not i dump them. Miners oil companies whatever, i only buy what i think will trend up. We have to meet again sometime so that i can give you some more lessons on strutting you havent quite mastered that. You still never said what you think the options are worth at pass the parcel time. Your old mate Macdunk
1.....you should have bought nzood when I said then huh..many moons ago you seemed to care alot more about the disclosure principle rather than company performance......Quote:
mackdadunk-
1.......Its not if this happened or nobody understands the company, all that matters is will the sp rise or fall. I dont give a damn about a company, they are only employed by me to show a rise in the share price. I couldnt care less what they get up to, as long as the sp trends up, and if not i dump them.
2....Miners oil companies whatever, i only buy what i think will trend up.
3....We have to meet again sometime so that i can give you some more lessons on strutting you havent quite mastered that.
4....You still never said what you think the options are worth at pass the parcel time. Your old mate Macdunk
2.... How come you never buy any oilers then? DO you not think they will trend up?
3.... yes, we can meet when you lose the nzood conversion beat, and you make your way to the NC... then we can go toe to toe again... haha...
4...You have said before that it is already pace the parcel time !... My screen is saying 10.7cents per nzood.... haha...thats what they are worth... haha
:p....
can you define pace the parcel time for me and then I will reply with an honest answer
its not at christmas is it?
:D
.^sc
Lion you raise a very good point about the time at Taranui. I am greatly incouraged that many tests were run.It hints to me that TUI may have more oil in it somewhere between Pateke to Taranui. Regardless of the market reaction i find this result much improved on last week. This will be another good point for the AGM.
Quote:
Originally Posted by dsurf
Why don't NZO release the following type announcement.
"We are making a lot of money. We know that PRC is seriously undervalued. We are going to increase our stake by buying on market up to 5% of PRC."
The PRC price would have to increase given only 128K on the offer & then the NZO price would follow & then the ood's would too
Quote by MacDunk
I really dont want to disillussion you but if they did that, then bastards like me would buy up big then sell back to the blue eyed brigade. The truth is nobody knows the value of PRC until the numbers come out. The traders would take you to the cleaners mate. MACDUNK
Er no, as always - please float back down to earth - NZO are announcing then bastards like you would buy up big - then you can hold the parcel til NZO start buying at thier leisure.
I am not involved - just pointing out that it would send a positive message by NZO for pee all $
.
China's August Crude Oil Imports Jump 19% as Economy Expands
http://www.bloomberg.com/apps/news?p...0&refer=energy