NZ Oil & Gas (NZO)

[fish]

May well see some 'price action' towards the end of the year as drilling becomes imminent.

Largely meaningless to me as I am only interested in the drillin results.

Although, if the SP were to increase meaningfully from where it is now I suppose it does provide the opportunity to liquidate a small % of my shares, further reducing my already small downside should Ironbark fail.

It is my feeling that the market has not factored in the value of Ironbark due to misleading information by NZO published for the takeover by OGOG.Imminent drilling may attract investors to research Ironbark for its true or preferred value which pre-drill is around $350 million(?around 50 nz cents per share) according to SRK.

[fish]

If the Tawhaki-1, shortly to be spudded-in, drill off the Otago Coast becomes a discovery it will turn the area from a frontier region to highly prospective. I expect this would cast a positive glow towards NZO's Barque prospect.

https://www.odt.co.nz/star-news/star...h-island-coast

Boop boop de do
Marilyn

Just wondered if any news about this drill ?
OGOG were quite excited about Barque when they bought a majority shareholding in NZO
There again so much has changed since then-not least the Northington valuation at that time-as far as ZETA offer went-
NZOG independent directors recommended shareholders reject the offer after an independent valuation by Northington Partners valued the company at 78 cents-to-93 cents a share.
I wonder why it has all changed?
Are the Independent directors really independent or is OGOG pulling the strings?

[Marilyn Munroe]

Just wondered if any news about this drill ?

The website marinetraffic.com shows the COSLPROSPECTOR still on site at Tahwkai due east of Foveaux Strait.

Could some courageous Sharetrader row out to the rig with a satellite phone and let us know if they are flaring off gas.

Boop boop de do
Marilyn

[mistaTea]

So that’s a NO for Tawhaki...

[Marilyn Munroe]

So that’s a NO for Tawhaki...

No hydrocarbon shows, pluged and abandoned.

https://www.beachenergy.com.au/asx/

Boop boop de do
Marilyn

[mistaTea]

No hydrocarbon shows, pluged and abandoned.

https://www.beachenergy.com.au/asx/

Boop boop de do
Marilyn

The probability of getting farm in partners for Barque must be about zilch now?

According to energy analyst John Kidd future exploration of the GSB hinged on Tawhaki being successful?

[fish]

The probability of getting farm in partners for Barque must be about zilch now?

According to energy analyst John Kidd future exploration of the GSB hinged on Tawhaki being successful?

Barque is in the Canterbury basin not GSB.
Maybe I have got it wrong but personally I cannot see how it alters the chance of success for Barque.
OGOG when they bought into NZO said words to the effect of Barque is too exciting to ignore

[Waikaka]

Canterbury Basin and GSB are close cousins. Both formed around the same time as failed rift systems.

For all intents they are the same petroleum system, reservoirs and source rocks are basically the same just with slightly different tectonic timing. Some sub-basins in the GSB are significantly deeper and presumable more mature which in fact makes it even worse for Barque.

NZOG Toroa permit is unfortunately downgraded to moose pasture and Barque is dead in the water.

It was worth getting work programme deadline extensions to keep in the area, especially while some one else is going to drill but with the result of Tawahaki-1 drilling NZOG should just relinquish them all before they waste more money.

[mistaTea]

Canterbury Basin and GSB are close cousins. Both formed around the same time as failed rift systems.

For all intents they are the same petroleum system, reservoirs and source rocks are basically the same just with slightly different tectonic timing. Some sub-basins in the GSB are significantly deeper and presumable more mature which in fact makes it even worse for Barque.

NZOG Toroa permit is unfortunately downgraded to moose pasture and Barque is dead in the water.

It was worth getting work programme deadline extensions to keep in the area, especially while some one else is going to drill but with the result of Tawahaki-1 drilling NZOG should just relinquish them all before they waste more money.

Yeah it is also my understanding that the two areas are geologically connected. Barque was always going to take a fair amount of convincing to get partners to farm in.

Then the government banned future offshore exploration and that was probably a mortal blow for the permit. Will have to wait and see what OMV do next, but with Tawhaki not resulting in a discovery - I reckon that is the final nail in the coffin for Barque.

For some time now Barque has been in the back of my mind - since the likelihood of it ever actually been drilled is really low. Which is why when I was working out what I would consider a 'fair price' for the SoA - I ascribed $0 for Barque.

The only thing interesting about NZOG is unchanged by the Tawhaki result - Ironbark. If it comes through then that will be absolutely fantastic. And look forward to the opportunity to participate in a world class drill.

If Ironbark does not come through then NZOG really has nothing going for it. It isn't even domiciled in a country that is friendly to O&G explorers! So the company's viability as a listed company moving forward in that scenario is doubtful in my view.

[fish]

Canterbury Basin and GSB are close cousins. Both formed around the same time as failed rift systems.

For all intents they are the same petroleum system, reservoirs and source rocks are basically the same just with slightly different tectonic timing. Some sub-basins in the GSB are significantly deeper and presumable more mature which in fact makes it even worse for Barque.

NZOG Toroa permit is unfortunately downgraded to moose pasture and Barque is dead in the water.

It was worth getting work programme deadline extensions to keep in the area, especially while some one else is going to drill but with the result of Tawahaki-1 drilling NZOG should just relinquish them all before they waste more money.

We are all going to have different opinions about this and I respect yours.
From my point of view-and I do take advice and listen to all.My unbiased expert(overseas) has been further researching both Ironbark and Barque and will now take this into account.
Barque is similar geology to Taranaki.It may represent a massive wet gas reservoir.We know it has a kitchen-2 out of 6 adjacent drills found hydrocarbons.The question really is if the hydrocarbons have been trapped.It has multiple targets.Only a drill will find out so for the future of NZ I want it drilled-and I do not care about the risk-it is so big that its probably worth drllling if it only has a 5%chance success.Remember Andrew Jefferies at the AGM said Ironbark was worth drilling if only a 3% chance success.
Gas is the transition fuel away from coal.Nz has to stop burning coal and change to cleaner fuel.