Pan Pacific Petroleum Nl (PPP)

[boysy]

macduffy i think we have answered your second point it is all or nothing in this permit there is no dilution of interests in the block. PPP are either in or out i belive nita put foward this explanation after talking with the ceo some weeks back.

[macduffy]

Hi boysy.

Yes, I realise that. I spoke to Tom Prudence myself and came away with a different interpretation of what he had to say.
Now I don't think that TP wants to get into too public a discussion on what might or might not happen - I can understand anyone not wanting to be seen as being critical or pressuring for an early decision - so it might be best if we wait patiently for an outcome. In essence, I'm optimistic that the result will be satisfactory for shareholders of PPP.

[boysy]

i also see no reason as to why the vietnamese government should reject the farm in. Plenty of upside it just seems as though the cards are clearly stacked in the favour of the petrovietnam as they can simply wait out and see how large the potential of the find is before using its pre emptive right. It would be very helpful if the exact situation on what if petro vietnam uses its pre emptive rights or the farm in is rejected by the vietnamese government is cleared up. Some people say we will have nothing others say we will have a diluted share of block 07/03. It wouldnt be critical or impatient to declare the situation to shareholders thats all i am wondering about.

[Sharp737]

Wow, bit of a jump this morning.

And Tapis price just on US$75

http://www.upstreamonline.com/market...id=markets_oil

[boysy]

indeed at an all time high now and tapis over $77 now. Plenty to look foward to in the next few months hopefully vietnam will pan out as expected and perhaps maitland will come back into focus once again. Then on top of that there are the upcoming tui drills and hopefully some more news from mgmt on opportunities passing over there desk.

[digger]

indeed at an all time high now and tapis over $77 now. Plenty to look foward to in the next few months hopefully vietnam will pan out as expected and perhaps maitland will come back into focus once again. Then on top of that there are the upcoming tui drills and hopefully some more news from mgmt on opportunities passing over there desk.

Hi boysy,
Yes things are looking good with PPP. I wonder if some insiders are more hopeful than what is been let on with PPPV. Seems strange it would go up this much without some certainty.
I do not put too much hope into maitland. Gas prices are lousy at the moment and the well has never yet flowed more than 6 on the scale when about 20 was required. What do you know about the flow with Maitlan? A bit of Tap hype me thinks. I see a great future for PPP but not from Maitland.

[boysy]

whats your views on the other permits ppp hold in the area ? corvus ect ?

[digger]

whats your views on the other permits ppp hold in the area ? corvus ect ?

Hi Boysy,
Apart from keeping one sleepy eye on PPP's other assets i do not get too excited about them until they get close enought to effect the SP. Corvus from memory found about 400 metres of gas a few years ago so that should be a reasonably economic but exactally what stage of development it is in now i have to admit i do not know.There is a few other like Tusk and Reindeer and Sage.
Actually Boysy i am pleased you asked me this question as it has forced me to accept i have paid little attention to these other assets that PPP has. With the AGM coming up in a few months it is a good time to get updated on these stranded resources that from MHO are having nil effect on PPP's share price.

[the machine]

now only hold 20,000 ppp after selling more today @ .505.

this 20,000 will have to hang onto as only bought them last nov, thus tax man would like me a lot if sold within 12 months

if vietnam interest is confirmed then thats great and I will share through nzo holding, but if it does not get confirmed then sp will drop quite a lot.

remember premier oil have experienced vietnam govt exercising back in participation earlier this year after 2 oil wells discovered right next door.

vietmese government have form and IMO to think they will not exercise rights [or petro vietnam for that matter] is very optimistic

with some of my proceeds might buy more nzo though

M

[boysy]

another nice move so far today after looking over some documents i noted like you said digger that maitland still has many issues to be dealt with. After reading these documents it makes sence that ppp is looking elsewhere though corvus did get a mention

In WA-246-P, a review of the sub-commercial Libris-1 and
a comprehensive reassessment of the earlier Corvus-1ST1
discovery was completed. At this stage there are no further
prospects considered ready to drill in the permit. A decision
to continue into permit years 4 and 5 will be made in early 2009.

Still plenty of hurdles yet to jump over but at the same time plenty of upside left. The higher it goes the greater the likelyhood of downside if things dont pan out though hopefully mgmt have got a few ideas going foward into the future.