NZ Oil & Gas (NZO)

[RTM]

Not any more.
I move we sell all assets, return the funds to shareholders and dissolve the company.

30 months to go. I wonder if they will get a 2nd term.
I guess this may become an election issue. Be an interesting one for the Nats (Blue / Green) to grapple with !

[Marilyn Munroe]

The offshore exploration ban just announced by Prime Minister Jacinderella is cynical virtue signaling.

The real reason I reckon the exploration block round has been withdrawn is nobody was interested in making an offer.

We have already seen the the likes of Statoil and Woodside drop their existing permits

While NZO is still allowed to drill their existing Canterbury Basin permit the probable lack of other drills in NZ means they will have to bear the full costs of transporting a rig to and from NZ. This increases the financial risk.

Boop boop de do
Marilyn

[flyingmariner]

The offshore exploration ban just announced by Prime Minister Jacinderella is cynical virtue signaling.

The real reason I reckon the exploration block round has been withdrawn is nobody was interested in making an offer.

We have already seen the the likes of Statoil and Woodside drop their existing permits

While NZO is still allowed to drill their existing Canterbury Basin permit the probable lack of other drills in NZ means they will have to bear the full costs of transporting a rig to and from NZ. This increases the financial risk.

Boop boop de do
Marilyn

I see it as maybe a plus for NZO if they they do discover gas off Canterbury would they not have a product that could be priced at a premium seeing as limited drilling is going to take place in the future?

NZ "greenies" and in particular the current NZ Govt. which is really just trying to curry favour, I understand that, is completely living in La La Land if they seriously believe that the NZ economy can be carbon emission free by 2050. Does that mean vehicles are included, obviously not.

Everything is great right now but there is a worldwide recession coming not because of any particular event but because the business model is not extinct so there will be a recession and when that happens every job lost through this policy will be a nail in the coffin for any Govt. whatever party.

And tourism isn't going to save the day either.

[horus1]

A gas find of the SI is useless . There is no market or infrastructure. I remember talking to a VP of shell , they did not bid for the Great south basin and they are as good as you get. This is a very good decision.

[Kay]

Does that mean vehicles are included, obviously not.

Id say by 2050 driving a vehicle powered by petrochemicals will be the modern day equivalent of smoking a cigarette in a maternity ward

[Zaphod]

I see it as maybe a plus for NZO if they they do discover gas off Canterbury would they not have a product that could be priced at a premium seeing as limited drilling is going to take place in the future?

NZ "greenies" and in particular the current NZ Govt. which is really just trying to curry favour, I understand that, is completely living in La La Land if they seriously believe that the NZ economy can be carbon emission free by 2050. Does that mean vehicles are included, obviously not.

Everything is great right now but there is a worldwide recession coming not because of any particular event but because the business model is not extinct so there will be a recession and when that happens every job lost through this policy will be a nail in the coffin for any Govt. whatever party.

And tourism isn't going to save the day either.

The big issue from my perspective is that Labour don't have a plan for transition. They've made the decision pre-emptively, sending signals to the market which is have immediate impacts, and now must scurry around cobbling together a plan for transition. It is a perfect example of exceptionally poor management.

You're right; Tourism certainly won't save the day given the low wage industry it is, and spraying $20m for DOC track upgrades and $5m for a cathedral redevelopment in Taranaki certainly won't alter the country's economic fate. Good luck to Shane Jones explaining how the government are investing in regional NZ!

[JBmurc]

Id say by 2050 driving a vehicle powered by petrochemicals will be the modern day equivalent of smoking a cigarette in a maternity ward

If thats the case NZ will be building a Nuclear plant

[blackcap]

Whats not to like?

http://nzx-prod-s7fsd7f98s.s3-websit...289/278333.pdf

Cash flow positive and 54 cents cash in the bank. Might pick up a few more.

[Vaygor1]

Id say by 2050 driving a vehicle powered by petrochemicals will be the modern day equivalent of smoking a cigarette in a maternity ward

If thats the case NZ will be building a Nuclear plant

Not quite correct JB .... it will take at least two... one for the North Island and one for the South.

[Marilyn Munroe]

Link to a presentation by NZO at some conference;

http://nzx-prod-s7fsd7f98s.s3-websit...884/279073.pdf

The presentation has an optimistic tone. Gives the impression its definitely down there just needs a drill bit to send shareholders into an elevated state of nirvana.

The increasing price of crude oil makes a visit to NZ waters by a rig a little more likely.

The presentation makes no mention of the coalition governments negative attitude towards oil exploration or their bumbling introduction of the no more permits policy.

Boop boop de do
Marilyn