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  1. #16711
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    Quote Originally Posted by mistaTea View Post
    Maybe James Dunphy is hoping that his letter which highlights the low SP relative to assets controlled will stimulate some interest in the company and lift the SP.

    Surely he must realise that it is impractical to start the liquidation process now without jeopardising the Ironbark drill.
    I am not sure what James Dunphy is hoping. I have not seen him on the register, unless that has changed recently, so he seems to be putting in a lot of resource and effort for little? reward.

  2. #16712
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    Quote Originally Posted by blackcap View Post
    I am not sure what James Dunphy is hoping. I have not seen him on the register, unless that has changed recently, so he seems to be putting in a lot of resource and effort for little? reward.
    Self-publicity perhaps. It would be appropriate in the NBR article if they stated how many shares were owned by the shareholder they are publicising - poor and self-serving journalism that they didn't.

    Also relevant that James' brother is the major shareholder in Greymouth Petroleum.
    Last edited by Wiremu; 12-05-2020 at 10:39 AM.

  3. #16713
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    Disturbing news on Bloomberg about the possibility of an LNG price war similar to the current oil situation.


    "(Qatar), the world’s biggest exporter of liquefied natural gas may soon face a stark choice: curb output or ignite a battle for market share that has the potential -- just as in the oil market -- to turn gas prices negative."

  4. #16714
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    Quote Originally Posted by Lion View Post
    Disturbing news on Bloomberg about the possibility of an LNG price war similar to the current oil situation.


    "(Qatar), the world’s biggest exporter of liquefied natural gas may soon face a stark choice: curb output or ignite a battle for market share that has the potential -- just as in the oil market -- to turn gas prices negative."
    Not really relevant to Ironbark I don’t think. Even if a discovery is made - it would be years before gas was actually pulled out of the ground.

    What Qatar may or may not do in the short to medium term is of little consequence I think.

    All that matters right now is rig availability, and BP’s review of their planned projects.

  5. #16715
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    Some chatter about the big cuts being made in OPEX and CAPEX by the big guys.

    https://www.rivieramm.com/news-conte...ghtrsquo-59328

    Ironbark is mentioned too:

    "Another greenfield development project that might be impacted by recent spending cuts by BP is the Ironbark gas prospect. In April, BP said it would reduce its planned spending in 2020 by 25%. “This may be the most brutal environment for oil and gas businesses in decades,” BP chief executive Bernard Looney said. BP said it would reduce spending to US$12Bn and cut opex by US$2.5Bn in 2020.However, New Zealand Oil & Gas, BP’s partner in Ironbark, reported that the well remains on budget and is targeted to drill by the end of 2020 or early 2021. Diamond Offshore’s semi-submersible Ocean Apex has been contracted for the project."



  6. #16716
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    An excellent paper for oilers from McKinsey: https://www.mckinsey.com/industries/...of-opportunity

  7. #16717
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    Quote Originally Posted by Wiremu View Post
    An excellent paper for oilers from McKinsey: https://www.mckinsey.com/industries/...of-opportunity
    Although it is not an NZO business, after reading that paper, the future of Marsden Point refinery does not look assured.

  8. #16718
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    Diamond Offshore have a rig status report (dated Feb 10, admittedly) that lists the start date to drill Ironbark as late October 2020.
    The Ocean Apex is shown as currently drilling 4 wells + options for Woodside, then going on to Ironbark.

    Antman4 on HotCopper says Woodside are skipping the 'options' and that may mean Ironbark starts earlier.
    His 'hunch' is August.

    Is it almost time for the 'thrill of the drill' ??

    CUE is steadily edging up.

    P.S. This site https://www.marinetraffic.com/en/ais...sel:OCEAN_APEX
    may have more detail, including where next and when, but you have to pay.

    Have you had your big breakfast yet, mistaTea?
    Last edited by Lion; 22-05-2020 at 06:07 PM.

  9. #16719
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    Quote Originally Posted by Lion View Post
    Have you had your big breakfast yet, mistaTea?
    I most certainly have had a big brekkie!

    This is the link to the Apex drilling schedule (although it is dated in Feb, and clearly the world has changed significantly in the last 3 months...)

    http://www.diamondoffshore.com/Docum...leetStatus.pdf

    With Woodside confirming the deferment of some projects, Ironbark could absolutely be drilled earlier than anticipated (which would be fantastic). If they started drilling in, say, August... we will know by Xmas whether or not Santa is brining any presents this year. To make it easier on you Santa - I can tell you right now I like valuable assets that are readily convertible to cash! 15Tcf of gas pushing up the NZO SP significantly would do just fine!

    The unknown for me is what BP are going to do. They are also cutting OPEX and CAPEX like everyone else. But perhaps Ironbark is a project that does not get cut because it is too far advanced in the planning? A commitment has been made to the Australian authorities, all cash is escrowed and committed to the drill, the rig has been commissioned and will be ready on time or earlier...

    According to Diamond, drilling was scheduled to start in October. When Covid really started to hit, we were probably only about 6 months out from the drill. So hopefully NZO and Cue can update the marker soon with some good news regarding ironbark.

  10. #16720
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    Last edited by airedale; 26-05-2020 at 12:00 PM.

  11. #16721
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    Had second thoughts. Post deleted

  12. #16722
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    https://www.offshore-energy.biz/beac...e-new-zealand/

    Posted as related to rig chat.

    Pretty sure it is not pay-walled.

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