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  1. #21
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    WAITOKI is a great investment area cant go wrong there. Pitty about the bloody council though the worst in nz if you want to do anything. macdunk

  2. #22
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    quote:Pitty about the bloody council though the worst in nz if you want to do anything. macdunk
    Surely can't be worse than North ShoreMy dealings with Rodney have been excellent so far, too much so....I'm fully aware a curve ball is comming!
    The only redeaming factor here, is that Rodney have taken over roading and fencing on subdivision as vendor vested 4ha to them (as it did not come under District plan), so it now comes under their control with the start of 200m r.o.w this morning.

  3. #23
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    South rodney is a huge growth area, the dairy flat/ waitoki area is booming, close to everything and on the doorstep of albany which is approaching FULL
    CopacaBarnsley, it\'s just like watching Brazil.
    http://barnsleybill.blogspot.com/

  4. #24
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    ARI, best of luck i once started off a project taking them to court where they backed down. they wanted me to upgrade a road that they actually though was mine. when i went through all the bull**** of proving it was theirs i could do nothing right after that. I shoved the inspector in his car and told him he was a dead man if ever we crossed paths again. I had to get the head man out to get a code of compliance in the end as i was taking them to court if one was not forth coming. The worst council in the whole world boot them up the backside if you want common sense to prevail. macdunk

  5. #25
    FEAR n GREED JBmurc's Avatar
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    Well done but on the surface it is a great deal, but what are the numbers.

    at the moment they are a long term investment owned by my rental LAQC , short term nothing much ,will wait till the builders & firms are screaming out for work next years imo, get a good price at current rents and cost to build in invercargill 7-8%nett return shouldn,t be hard.haven,t decide
    so much oil&energy cheap land with a very low pop. base
    IMO its not if but when.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  6. #26
    Advanced Member trackers's Avatar
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    quote:Originally posted by JBmurc


    Well done but on the surface it is a great deal, but what are the numbers.

    at the moment they are a long term investment owned by my rental LAQC , short term nothing much ,will wait till the builders & firms are screaming out for work next years imo, get a good price at current rents and cost to build in invercargill 7-8%nett return shouldn,t be hard.haven,t decide
    so much oil&energy cheap land with a very low pop. base
    IMO its not if but when.
    I made the decision recently that the next house I pick up I'll build - wait for the builders to clear their workload (~year and a half) then should be able to get one built pretty cheap as you say

  7. #27
    FEAR n GREED JBmurc's Avatar
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    when EXXONMOBIL are looking you know theres got to be some serious oil in the GSB ,what this mean for the local city & southland.HUGE
    where not talking couple million but billions barrels of oil
    Why they haven,t be drilling for GAS onshore ,Southland has a massive amount of coal underground maybe some shallow (low cost to drill) coal seam gas may be also there(soon fix the energy problem)




    Govt clashes with oil giant

    02 April 2006

    By GARRY SHEERAN

    The world's largest oil company, ExxonMobil, has taken legal action against the New Zealand government as interest grows in a huge oil and gas exploration prospect off the South Island.

    Exxon's action is the second legal stoush over the Great South Basin, embarrassing the government as it tries to run a smooth auction process for drilling permits this month.

    The oil giant is one of several big oil companies the government has been trying to coax to New Zealand after Shell stopped local exploration three years ago.

    These companies are considered to have the resources to drill for gas in the basin whose reserves are estimated to equal those of the Maui field when it was discovered 35 years ago.

    The dispute with Exxon centres on seismic data which pinpoints the best places to drill in wild seas east and south of Stewart Island. ExxonMobil paid $US3.2 million (about $5m) for the data last year, but the government says Exxon must make it available to other oil companies interested in drilling in the basin.

    The global oil giant refuses to part with the data, and has asked the High Court to back it. Proceedings for a declaratory judgement are set down for May 2.

    Crown Minerals general manager Adam Feeley said all information on blocks of land or seabed being offered for exploration should be available to all interested parties.

    Feeley said companies with exploration permits were required to give Crown Minerals a copy of seismic data. And when the permit expired or was revoked, the information became publicly available.

    But ExxonMobil spokesman Peter Thornbury said his company had never been a permit holder, and the Crown had provided "no credible legal basis as to why it is entitled to the data.

    "We think it unreasonable to think we would hand over what is propriety information."

    The seismic data now owned by ExxonMobil was done by a Norwegian survey company for a consortium headed by Perth-based Bounty Oil, which held a permit to explore an area at the centre of the Great South Basin.

    But the consortium never paid for the data after a dispute, and the survey company sold a small part of it to ExxonMobil to help it recover costs. Exxon later bought all the data covering 4000sq km of ocean floor.

    Meanwhile, Crown Minerals revoked the permit held by Bounty because it had not started drilling in the agreed three-year time frame.

    The action was seen in the industry as an attempt by Crown Minerals to evict a small player from the Great South Basin to allow big explorers like ExxonMobil to have a crack.

    Bounty believes it has been misled and unfairly treated by Crown Minerals, and is fighting the permit revocation in the High Court in Wellington on May 16, not long after the ExxonMobil proceedings.

    "So we have an interesting situation which the court must resolve," said Feeley.

    The legal stoushes could not have come at a more embarrassing time for Crown Minerals, the agency which spearheads the government's drive to avert a looming energy crisis.

    With only a lukewarm response by international explorers for blocks recently offered by auction off the Taranaki, Northland and East coasts of the North Island, high hopes were pinned on the Great South Basin.

    A discovery there has the potential to solve New Zealand's energy problems for the next 30 years, as Maui has done for the past 30.

    But the huge oil and gas potential lurks at depths of up to 1000m (Maui is in water 120m deep), with wave swells up to 10-12m and no onshore infrastructure in place. It all makes offshore Taranaki look tame b
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  8. #28
    FEAR n GREED JBmurc's Avatar
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    found this in the southland times yesterday.

    The Invercargill City Council has bought 213ha of farmland at Awarua, south of the city, for between $3.5 million and $4.5 million.

    Council chief executive Richard King said the council planned to rezone the site as industrial, in readiness for potential buyers who had already indicated an interest in the city.

    "We are aware of certain things that could happen.(GSB OIL gas,lignite or gas energy power plant)

    "We want the ability to offer suitably zoned land for enterprises eyeing up Invercargill for investment."

    The land is adjacent to the Ballance Agri-Nutrients plant and opposite the South Pacific Meats plant on the Invercargill-to-Bluff highway.

    The council would take possession of the site today, Mr King said.

    It would take at least two years to go through the rezoning pro-cess.

    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  9. #29
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    JB
    Interesting reading.

    Just look at SPN share price over last 3 months. []

    cheers

  10. #30
    FEAR n GREED JBmurc's Avatar
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    checkout the southland times half page on the GREAT SOUTHERN BASIN
    -just shows the potention of the area with talk of 5.5billion barrels of oil and some 315trill cbf gas with a gross value of $US800billion
    and thats only GSB don,t forget the southwest solander basin and the large onshore western areas

    -JBMURC now holds 7 sections in invercargill
    (I noticed over the last year the asking price of some of invercargill cheaper sections areas like clifton,kingswell going from 10-15,000 to 25,000-35,000[?]

    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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