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  1. #17161
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    Quote Originally Posted by fish View Post
    I have been told from a reliable source that BP would not be doing this unless there was an approximate 1 in 2 chance success or better .
    Cue estimate a 1 in 3 chance
    Yeah and the technology has come so far, the odds of success are far more than they used to be.

    No guarantee of commercial success of course, but it is fair to say that BP aren’t investing this kind of money for odds lower than 1 in 3 for a drill like this (and would probably have a higher threshold as your source suggests).

    They wouldn’t be doing this for a 1 in 4 and certainly not a 1 in 20! (5%).

    The lack of liquidity will probably continue to be a drag on the SP even in a success case unfortunately. The SP should theoretically go to $6.50 based on a valuation provided by an energy analyst last year. But I think that would only happen if NZO was liquid - investors need to know that they can sell their shares in the future without any delay or hassle.

  2. #17162
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    Looks like the Beach Boys BPT, Asx, are feeling Good Vibrations.

  3. #17163
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    Quote Originally Posted by Getty View Post
    Looks like the Beach Boys BPT, Asx, are feeling Good Vibrations.
    If it was Ironbark related, then would have expected NZO (or Cue) to see more of an uplift. NZO (with Cue holding) has a bigger share than Beach.

  4. #17164
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    http://nzx-prod-s7fsd7f98s.s3-websit...055/336202.pdf

    3km down what's gonna be a very deep hole...

  5. #17165
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    https://www.nbr.co.nz/story/genesis-...rce=Heads%20Up

    Genesis looking to get out of Kupe!

  6. #17166
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    Quote Originally Posted by mistaTea View Post
    http://nzx-prod-s7fsd7f98s.s3-websit...055/336202.pdf

    3km down what's gonna be a very deep hole...
    Looks like progress is rapid and smooth and now more than 1/2 way.

  7. #17167
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    Quote Originally Posted by fish View Post
    Looks like progress is rapid and smooth and now more than 1/2 way.
    A marathon is 26 miles. The half way point is 20 miles.If you have ever run one you will know what i mean.Same with well drilling.
    digger

  8. #17168
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    Quote Originally Posted by digger View Post
    A marathon is 26 miles. The half way point is 20 miles.If you have ever run one you will know what i mean.Same with well drilling.
    Aint that the truth digger!

    I foolishly ran the Auckland marathon a few years back. Never again.

    The last 10km was absolute agony and my running speed dropped to a glorified jog.

  9. #17169
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    lets hope there are no damp sponges thrown from the sidelines then, only glorious gas.

  10. #17170
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    Quote Originally Posted by Getty View Post
    lets hope there are no damp sponges thrown from the sidelines then, only glorious gas.

    Sensing any petroleum or gas molecules on the horizon from deep down yet - my friend .. or too early ?
    Last edited by nztx; Yesterday at 04:26 PM. Reason: add more
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  11. #17171
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    Quote Originally Posted by nztx View Post
    Sensing any petroleum or gas molecules on the horizon from deep down yet - my friend .. or too early ?
    well I hope not. If you are getting gas molecules the seal must be leaking.Not a good sign as then it would be leaking for the last 100 million years so the well will be empty. Pukeko was like that.At the time it was drilled about 20 years ago it was claimed by NZO to have been the largest find in NZ. But it was just now an empty spent well.We were tens of millions of years too late with the drill on that one.

    So I hope for no gas Molecules until we get there.That will be the first of many tiny steps we need to get a commerical find. When we do get to the target there could still be no gas molecules----no we won't go there......
    digger

  12. #17172
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    We have now been drilling for exactly 30 days.

    35% of the total 85 days anticipated.

    In another fortnight, we will be just over half way (in terms of drill time, not distance).

    Andrew made comments at the AGM about possibly having a result this side of Xmas. Does that sound right?

    There would still be about a month or so to go of drilling by the time we hit Xmas so I would have thought that would be too soon?

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