NZ Oil & Gas (NZO)

[Sideshow Bob]

ODT article

https://www.odt.co.nz/business/omv-c...n-empty-handed

[fish]

ODT article

https://www.odt.co.nz/business/omv-c...n-empty-handed

Thanks for that link-its good journalism-brief and covers 2 opposing views.
The mislead Greenies saying its good news as we do not need more fossil fuel .Hypocrites that do not know the difference between coal and gas.
Andrew whiley who says they will be back-its just a matter of drilling the right hole in the right place at the right time.
NZO are lucky having OGOG leading them with the capability to do this

[blackcap]

And all the while Japan is expanding its coal operated generators to create more energy in the wake of Fukushima. Demand for coal and oil (globally) will continue unabated in the coming 30 years.

[mistaTea]

Cue update on Mahato: https://www.asx.com.au/asxpdf/20200225/pdf/44ff76pkyrbkt5.pdf

I just want to know what the hell is going on here.

Clearly a discovery has been made - but what has happened that Texcal think they can just cut their JV partner out? They must have some reasoning but Christ only knows what it is.

Anyone have any other sources of info on this or good old scuttlebutt?

[JBmurc]

Cue update on Mahato: https://www.asx.com.au/asxpdf/20200225/pdf/44ff76pkyrbkt5.pdf

I just want to know what the hell is going on here.

Clearly a discovery has been made - but what has happened that Texcal think they can just cut their JV partner out? They must have some reasoning but Christ only knows what it is.

Anyone have any other sources of info on this or good old scuttlebutt?

Surely its pretty straight forward like the ann. below back in DEC....


Melbourne, Australia 17 December 2019: Cue Energy Resources Limited (CUE or Company) advises that the claimed cash call from the Operator of the Mahato PSC, Texcal Mahato EP Ltd, which was the subject of the disputed default notice referred to in the ASX announcement of 10th Dec 2019, has been paid by Cue. Cue is not receiving information from the Operator as required under the Joint Operating Agreement and is evaluating all available options to address this and other breaches under this agreement.

-Even though CUE disputed the extra cash call from 'Texcal" they still paid the bribe !! (or didn't they ???)

why ask for extra funds then once received still not uphold the J/V ? ... and now state the J/V is void ... what utter BS!!! scumbag sand jockeys

[fish]

Surely its pretty straight forward like the ann. below back in DEC....


Melbourne, Australia 17 December 2019: Cue Energy Resources Limited (CUE or Company) advises that the claimed cash call from the Operator of the Mahato PSC, Texcal Mahato EP Ltd, which was the subject of the disputed default notice referred to in the ASX announcement of 10th Dec 2019, has been paid by Cue. Cue is not receiving information from the Operator as required under the Joint Operating Agreement and is evaluating all available options to address this and other breaches under this agreement.

-Even though CUE disputed the extra cash call from 'Texcal" they still paid the bribe !! (or didn't they ???)

why ask for extra funds then once received still not uphold the J/V ? ... and now state the J/V is void ... what utter BS!!! scumbag sand jockeys

From what I can tell its just a spat.Little more than can be expected doing business in Indonesia.There are always 2 sides to a story and clearly Cue are not going to tell us how this has come about.Look at the directors on Cue.Look at how they have behaved with NZO and the scheme of arrangement.Its too early to make judgments until we hear the truth as seen by both sides

[mistaTea]

From what I can tell its just a spat.Little more than can be expected doing business in Indonesia.There are always 2 sides to a story and clearly Cue are not going to tell us how this has come about.Look at the directors on Cue.Look at how they have behaved with NZO and the scheme of arrangement.Its too early to make judgments until we hear the truth as seen by both sides

It's true that no matter how flat you make a pancake - it always has two sides!

Let's just hope Cue haven't screwed the pooch on this one and that whatever the issue is can be resolved.

Even if Cue were in the wrong, they have since paid up the money Texcal said was owed. Seems incredible that Texcal now seem to be progressing as if Cue was never a JV partner. The fact that there has been a discovery makes me suspicious too. If the same thing happened, but the hole was dry, I am 100% sure Texcal would still treat Cue as a JV partner after the disputed funds were paid! To help with the plugging and abandonment costs!

[mistaTea]

https://www.nbr.co.nz/story/proposed...rint-says-nzog

Latest members bill submitted by Green's Chloe Schwarbrick would force all public funds to divest from companies directly involved in the mining and production of oil & gas.

If it gets through, that would mean our largest minority holder (who played a key role ib stopping the SoA) will be forced to dump their shares.

ACC would have to forgo the potentially large Ironbark upside, and what will the policy achieve in terms of emission reductions? Either nothing or an increase in emissions from a reduction in gas supply.

Can we have the election already? These current lot have got to go.

[Snoopy]

https://www.nbr.co.nz/story/proposed...rint-says-nzog

Latest members bill submitted by Green's Chloe Schwarbrick would force all public funds to divest from companies directly involved in the mining and production of oil & gas.

If it gets through, that would mean our largest minority holder (who played a key role ib stopping the SoA) will be forced to dump their shares.

ACC would have to forgo the potentially large Ironbark upside, and what will the policy achieve in terms of emission reductions? Either nothing or an increase in emissions from a reduction in gas supply.

Can we have the election already? These current lot have got to go.

You do know there is a difference between a 'members bill' and a 'government bill' don't you? First the members bill has to be drawn from the ballot (no guarantee of that happening). Then it has to be passed by parliament (no guarantee of that happening).

SNOOPY

[mistaTea]

You do know there is a difference between a 'members bill' and a 'government bill' don't you? First the members bill has to be drawn from the ballot (no guarantee of that happening). Then it has to be passed by parliament (no guarantee of that happening).

SNOOPY

The likelihood of it ever becoming law is not the issue. The issue is that there is this constant push since the last election to make it harder and harder for the O&G industry.

It is already an unfavourable environment after the offshore ban of future permits. Just by submitting a members bill with the latest crazy idea (whether it ever becomes law or not) adds to the whole notion that NZ is closed for business to would-be explorers.