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  1. #11
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    Devonport, Auckland, , New Zealand.
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    Think you may be right Donner.

    Is PPP going to start following NOG ??

    Interesting...?? Been good to watch last few days. Buying has been positive, but intermittent.
    Watching closely.

  2. #12
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    Queenstown, , New Zealand.
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    Yeah but where are they going to get their share of the capex funding.

  3. #13
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    christchurch, , New Zealand.
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    quote:Originally posted by Happy

    Yeah but where are they going to get their share of the capex funding.

    From the punters such as your good selves, where else? [xx(]

  4. #14
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    Queenstown, , New Zealand.
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    Good luck to them!

  5. #15
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    christchurch, , New Zealand.
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    quote:Originally posted by Happy

    Good luck to them!

    Maybe NOG will have some spare cash after options conversion and Pike float so that they can pay PPP's share of the costs for another 7.5% of the oil field. []

  6. #16
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    Isn't Mitsui carrying them for some or all of the cost of development?

    It was a long time ago but I remember something like this.

  7. #17
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    CREDIT TO WAAIHOEK, FOR THIS ARTICLE BELOW, COPIED FROM NOG PAGE.


    According to the report below, so far this year average price of crude (Nymex ?) has been
    above US$ 50 / barrel !!!!

    --------------------------------------------------------------------

    http://www.etaiwannews.com/World/200...1118800993.htm

    OPEC powerless to rein in oil prices

    2005-06-15 / Reuters /

    OPEC producers, considering an increase in oil output limits, said on Monday they were powerless to rein in prices now back above US$55 a barrel.

    The Organization of the Petroleum Exporting Countries says it is operating close to full crude supply capacity and can do nothing to combat a global squeeze on refined products, particularly diesel.

    Ahead of a Wednesday OPEC meeting, leading producer Saudi Arabia was among several backing a proposal for an increase in formal cartel crude supply limits of 500,000 bpd, 2 percent.

    "I think everybody will support it, but I don't think it will have any impact," said Algerian Oil Minister Chakib Khelil.

    Ali al-Naimi, oil minister for Saudi Arabia said Riyadh was already pumping as much as it could sell and blamed refinery bottlenecks for keeping the heat under energy costs.

    "You know and I know that what is driving the price is not supply - it's the lack of refining capacity worldwide," Naimi told reporters in Vienna, home to OPEC headquarters.

    "Everybody is concerned about middle distillates," he said in reference to the refined products diesel, jet fuel and heating oil.

    Traders said the remarks helped underline market concerns about the ability of refiners to meet rising demand in the second half of the year. U.S. light crude rushed US$2.08 higher to settle at US$55.62 a barrel.

    "Diesel prices have been sustained by several factors including strong global demand, extended refinery maintenance on upgrading units, and refinery disruptions in the Caribbean," said Goldman Sachs.

    The average price for the year so far is nearly US$51 a barrel, up from US$41.47 on average in 2004 and US$30.99 on 2003.

    Last year's Chinese-led demand boom took producers and refiners by surprise after years of slow investment in capacity across the upstream production and downstream refining industry sectors.

    Led by Saudi, OPEC is trying to rebuild spare capacity but for the time being the group is at full stretch. "OPEC members are already pumping at full capacity and can do nothing about prices," said Iranian oil minister Bijan Zanganeh.

    So far, the world economy has largely absorbed higher energy costs, helped in part by government subsidies in emerging economies.

    The United States has proven particularly resistant. U.S. diesel demand over the past four weeks has been running 6 percent higher than last year as the trucking industry moves Chinese imports to market from the West Coast.

    But OPEC worries that a sustained period of US$50 oil could hit long-term demand and create an incentive for investment in alternative fuels.

    "More than US$50 to US$55 for the long term it seems is not good for the world economy," said Zanganeh. "It seems in the long term a very high price will probably have a bad effect on the world economy, and we prefer not to witness this situation, but I think OPEC cannot do anything."



  8. #18
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    May 2003
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    , , Chile.
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    Yes the PPP share is mostly carried and they have cash from sell down of Tauton gas assests in OZ.

    Any overrun would be soaked up by private placement.


  9. #19
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    was it based on a percentage or a capped amount?

  10. #20
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    May 2003
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    , , Chile.
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    percentage from memory.

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