OSH-Oil search

[Oiler]

there really should be more interest on OSH from this site...
This giant oiler is leveraged, and that is hard to find for a company of this size....
on path to a $20 dollar stock in 5 years (with upside)......
I percieve it to be a relatively low risk path....
there wont be time delays on PNG LNG...
big times over the next 6 months, as OSH leads into development go ahead first quarter next year...
...
recommendation, buy on dips...
trading around 6 bucks...
worth 20 down the line...

.^sc

Shrewdie.. I am with you on this one. PNG LNG is going to be a BIG one and with low sovereign risk.

[shasta]

Shrewdie.. I am with you on this one. PNG LNG is going to be a BIG one and with low sovereign risk.

OSH - June Quarterly Report

http://www.stocknessmonster.com/news...E=ASX&N=557623

As always a great read & to keep an eye on the PNG project

[Crypto Crude]

announcements coming...
cost reductions to the PNG LNG project...
OSH running strong...
buy on dips...

.^sc

[evilroyrule]

Hey SC, firstly thanks for the CUE/HZN heads up while back. and..have you been keeping up the articles regarding seabed mining around NZ and partic. Taranaki coast? Seems they pretty confident of ore content etc? Looking to take a small speculative position in one of the permit holders but im finding it hard to track back to ASX listed stock. any tips. maybe i should post link to the articles first? thanks

[Crypto Crude]

yes, please post the articles...

.^sc

[evilroyrule]

ok will do tomorrow from work.

[evilroyrule]

ok will do tomorrow from work.

Hi SC,

Here some articles you might find of intertest, not limited to ore. I would prefer to paste as attachments but me and technology dont get along like we should. ill try saving as attachments and post that way. patience.

Time running out for oil field
By ROB MAETZIG - Taranaki Daily News Last updated 05:00 12/09/2009SharePrint Text Size Relevant offers
Time looks to be running out for the owners of Taranaki's Tui offshore oil field they'll soon exceed a government-imposed limit on the amount of gas allowed to be flared during production operations.

The field's petroleum production licence limits to 10 billion cubic feet the amount of gas able to be flared during its lifetime.

But after just two years of production the figure has already reached 7.5 billion cubic feet, field operator AWE New Zealand confirmed at this week's New Zealand Oil and Gas Expo in New Plymouth. "This is well beyond what we anticipated," said the company's general manager, Dennis Washer.

"It's a problem we're having to deal with, particularly in view of the potential phase two development of the field."

He confirmed that talks are continuing with Shell Todd Oil Services, the operator of the Maui gasfield 30km away, regarding piping the Tui gas to one of that field's production platforms. But he would not say any more, citing confidentiality agreements with STOS.

AWE has already copped plenty of criticism for flaring off the Tui gas. At the peak of production early last year up to 20 million cubic feet of the gas a day was being flared. The fact the Tui owners are already approaching the flaring limits dramatically underlines how successful the offshore field has been.

[evilroyrule]

bugger it. ill figure out attachments one day, this will do.

More drilling action off Taranaki
By ROB MAETZIG - Taranaki Daily News
Last updated 10:47 01/09/2009

Jack-up rig: This summer the Ensco-107 will be drilling an exploration well at Albacore-1, 80km north of Taranaki.
Relevant offers

OFFSHORE oil and gas exploration activity will step up a notch in Taranaki this summer, with two rigs working in local waters.
The biggest rig will be the semi- submersible Kan Tan IV, due off Taranaki in a few weeks to begin operating in waters southwest of the region. Another, the jack-up rig Ensco 107, will be drilling in the northern section of the Taranaki Basin off Awakino.
The first well to the west will be Hoki-1, 150 kilometres from New Plymouth, which will be spudded in October. Then the Kan Tan IV will drill at least two prospects near the existing Tui oilfield, followed by another exploration well called Tuatara-1.
The first northern offshore well will be Albacore-1, an exploration well to be drilled by the Ensco-107 in water depths of around 95 metres, 80km north of New Plymouth.
The operator will be United States company Westech which holds a 50 per cent share, with the other shareholders being NZOG with 40 per cent and Mighty River Power with 10 per cent.
The well will also be spudded in October at a total estimated cost of $20 million to $25m.
NZOG says an assessment of the central northern Taranaki Basin is that is very prospective. The first prospect to be targeted will be Albacore, which contains three separate target zones that may contain hydrocarbons.
"NZOG's internal analysis is that Albacore is more likely to contain oil than gas and, if successful, could support an offshore development similar to Tui," chief executive David Salisbury said.

[evilroyrule]

and here is the return of the jedi (part III)

Firm wants mining to begin by 2014
By RYAN EVANS - Taranaki Daily News
Last updated 05:00 11/09/2009

Seabed mining could be under way off Taranaki's coast in five years or less, according to a company currently prospecting for mineral deposits.
Trans-Tasman Resources is the first of four companies to have been issued prospecting licences both onshore and offshore around Taranaki by Crown Minerals since last March.
With its prospecting permit set to expire in March next year, executive chairman Bill Bisset said test results had left the company "very optimistic" about the resource.
Mr Bisset said the next step would be to apply for an exploration permit, allowing more in-depth work to identify specific mineral deposits and the feasibility of mining them.
All going well, the company was looking to begin mining in four to five years.
On Wednesday, John Rutherford, the director of Iron Ore New Zealand a company which, along with global mining heavyweight Rio Tinto, has an exploration permit application pending said his company was keen to move past the prospecting and exploration stage and begin mining.
Attempts by the Taranaki Daily News to contact other groups with prospecting permits around Taranaki, FMG Pacific, an offshoot of Australian mining company Fortescue, Ironsands Offshore Mining and Sericho Developments have been unsuccessful.
Trans-Tasman has taken about 165 surface and core samples from within its prospecting sites.
On the coast between Opunake to south of Wanganui, the results "suggest the existence of a potentially very large resource," according to Trans-Tasman's website.
The average concentration of ironsands over the whole area surveyed was 8.3 per cent, well above the 6 per cent required to be commercially viable.
In some places the ironsand concentration was between 15 and 40 per cent. "What we're talking about is the development of something of global proportions and the potential of it is significant," Mr Bisset said.
The company was acutely aware of concerns over seabed mining and was making every effort to be open and address them as they assessed the project's overall viability.
"A lot of what's done in the prospecting stage is not just geological work, but all the other stuff as well.
"Environmental and social issues need to be covered off, because if they're not it doesn't matter if there's seams of gold or diamonds down there, it's not going to happen," Mr Bisset said.
Those concerns had to be balanced against the potential financial benefits to the region, both in revenue and job creation.
He had encountered plenty of excitement about the opportunities, especially in employment.
Trans-Tasman was proposing to dredge sand off the ocean floor and transport it to an offshore rig station to extract, de-water, wash and store the iron ore.
The company's preferred option was to then ship it from the offshore station to an onshore steel plant in New Zealand or, alternatively, to Asian markets.
The rest of the sand and waste would be put back on the ocean floor.
The company's website says with concentrations of ironsand of 10 per cent, an area of 20km by 20km would sustain a 10-year mining operation.
Over that time it estimates five metres of sediment would be removed from the sea floor, but 4.5m of it would be returned, leaving a total impact on the sea floor of just 50cm.
In 2008, the parliamentary local government and environment committee released a report in response to a petition by protest group Kiwis Against Seabed Mining and signed by 15,113 other people calling for a government ban on seabed mining.
The committee's report concluded that a blanket ban on seabed mining was unjustified.
"Mining should be undertaken with appropriate environmental safeguards and further research into the environmental impacts of seabed mining is needed," it said.
In preparing the report, the committee heard evidence from KASM, Crown Minerals, and the Department of Conservation.
Crown Minerals admitted the use of dredge mining would have an environmental impact, including clouding of water caused by fine sediments, and spread of sediment containing toxic material.
This would affect species living in and on dredged material, but Crown Minerals suggested storms had a similar effect.
DOC told the committee the environmental impacts could be significant, with the destruction of soft-sediment habitats affecting the whole marine food-chain, including the endangered Hector's dolphin.
It also expressed concern about the impact of seismic surveying on whale populations.
Little research was available on the impact of seabed mining on deep water environments, DOC told the committee.
Ironsand industry has long history
Onshore mining of Taranaki's ironsand is not a new concept.
In fact, it's been around for more than 150 years.
In the past 18 months, two companies have been given prospecting permits to search for minerals, including iron ore onshore in and around Taranaki.
The companies are FMG Pacific, and Serdicho Developments.
The sites are in North and South Taranaki, stretching from New Plymouth to Mokau in the north and in the south from between Opunake and Hawera into Manawatu.
But efforts to harness the region's distinctive black sand began as early as 1848 when early settler John Perry attempted to smelt sand around New Plymouth.
Other attempts to develop the industry continued with varying degrees of success until the 1970s, when high demand from Japan for titanomagnetite, found in ironsand, led the Government to renew ironsand mining.
Onshore iron sand mining operations began at Waipipi, near Waverley, in 1971 and at Taharoa, near Kawhia in 1972.
Waipipi shut in 1987, having produced 15.7 million tonnes of concentrate for export.
Serdicho Developments has held an exploration permit at the old Waipipi site since 2005.
New Zealand Steel still supplies Asia with titanomagnetite from Taharoa, and its Glenbrook steel mill with iron ore mined from North Head, north of the Waikato River.

[macduffy]

Well, Bill Bissett comes with experience in mineral sands mining, being a former Executive GM of Iluka.

http://www.blacksands.org.nz/new/ttasman.htm

Personally, I think offshore mining sounds too hard from an environmental angle and too expensive. I suspect that cheaper, easier deposits will be exploited first.