NZ Oil & Gas (NZO)

[fabs]

As pointed out on the PRC forum less than 24 hrs earlier, any potential deal requires inclusion and assurance of same condition access to transport arrangements with SE.
Could drag out into a long and costly legal battle scaring away genuine bidders
BTW. About 12 months ago I commented that SE was probably for some time silently waiting and watching the ongoing struggle and set backs of PRC.
Also not so long ago explained that it will be a cash cow for some, lets just hope somehow by some miracle it will be for PRC & NZO S/H.

[LIO]

Me too Digger. With NZO already owning a third of the shares and the price of coking coal on the up (again), their apparent reluctance to widen their 'Oil/Gas' horizon for such a wonderful opportunity......................... especially with all the infrastructure etc in place. Bit of a no-brainer really I would have thought.

[boysy]

Tunisia anyone ?

http://www.energynewsbulletin.net/st...ctionsource=s0

NZOG spreading its wings

Neil Ritchie, New Zealand
Monday, 9 May 2011

NEW Zealand Oil & Gas may be about to enter the Tunisian oil and gas sector, acquiring an exploration lease and setting up an office in that North African country.



Tunisia flag

Late last month managing director David Salisbury said he hoped to seal a Northern Hemisphere deal soon and that he expected to be flying to the country concerned in May or June for a signing ceremony.

He talked about "quite a sizable, reasonably well defined but overlooked” offshore oil prospect that NZOG hoped to initially hold on a 100% equity basis.

Salisbury also said NZOG already had other exploration companies talking about participating in the lease, “even before the ink had dried”.

Rumours since then have been that NZOG, New Zealand’s largest listed oil explorer, is considering an offshore lease in the Strait of Sicily, under Tunisian jurisdiction.

However, all NZOG corporate affairs manager Chris Roberts would tell EnergyNewsBulletin was that “we can’t comment yet on the location but should be able to do so in a matter of weeks”.

“Most of the necessary paper work has been completed, and we are waiting to hear on what date the government minister will be available for a signing ceremony.”

He said NZOG was considering several opportunities but they were all in the same northern hemisphere country.

“In the country we are entering, it is well known among the existing industry players active there that we have picked up an attractive permit.

“Several have already approached us to discuss working together and we are reviewing a number of opportunities put to us.

“This permit acquisition is very much a first foothold. We are establishing an office, installing an experienced explorationist and intend to build a portfolio,” he told ENB from Wellington.

Roberts said NZOG was also very actively looking in Indonesia and expects to be announcing progress there in the coming weeks.

Salisbury said NZOG was currently involved in eight possible opportunities in Indonesia, though he again declined to detail any of these.

They were, however, lower risk opportunities that offered lower possible reward, compared to the higher risk profile offshore New Zealand now had, given the recent unsuccessful offshore campaigns, including six involving the Kan Tan IV semi-submersible rig.

He talked of a “significant downgrading of interest” and a “somewhat pessimistic mood” regarding offshore New Zealand.

Quite a number of Australian companies, including Oil Search, Cooper Energy and ADX Energy, are already operating in Tunisia.

[fabs]

Thank goodness they gone for those sort of countries.
On the positive side, a 100% better than falling for some conning Nigerians which for months have targeted me with some easy to make money schemes.

[neopoleII]

hey boysy, any chance of posting this story from the same site?
THE Sidewinder-4 well has struck oil and gas for New Zealand-focused Canadian junior TAG Oil, as have all the previous three wells in the onshore Taranaki field.
maybe NZO should look alittle harder in its own back yard

[geezy]

didnt tunisia just went through a change of government? this is a very bold move from a company who has been playing "VERY" safe with its investment opportunities. they look more and more like wannabes

DISC: Hold NZO in (L) size

[digger]

didnt tunisia just went through a change of government? this is a very bold move from a company who has been playing "VERY" safe with its investment opportunities. they look more and more like wannabes

DISC: Hold NZO in (L) size

The top man was replaced but the military still run the show.The youth of the country have today started up again as their demands are not met. Also from neighbouring countries people are quitting the oil industry as fast as they can.
So for a big gamble anyone.Remember the Kosova war.An investment there at the height of the war to 5 years after won the world prise as the best property investment in that period.So big ganble big reward sometimes.Tunisia would sure have not too much compitition now but the big question is what will the govt look like in a few years.,or should i say what govt?
I agree with the board that Taranaki is not looking as good as 5 years ago for sure,but this looks like a scarry jump to me. If they intend to do it anyways sure hope they are correct.
Would have been nice to clear up the PIKE thing first.SE might now use NZO attention else where to walk off with a steal.

[Mr Tommy]

Hmmm, Tunisia is not a big oil producing country.

Oil and gasOil production of Tunisia is about 97,600 barrels per day (15,520 m3/d). The main field is El Bourma.
Oil production began in 1966 in Tunisia. Currently there are 12 oil fields.

[Casa del Energia]

Hmmm, Tunisia is not a big oil producing country.

Oil and gasOil production of Tunisia is about 97,600 barrels per day (15,520 m3/d). The main field is El Bourma.
Oil production began in 1966 in Tunisia. Currently there are 12 oil fields.

Big fish in small pond - that's ok, profit per share. Mighty volitile part of the planet these days though. (Perhaps NZO can call thier field "El Cheapo")

[Mr Tommy]

David Salisbury used to work for OMV, see theyre into Tunisia too.


Austria's OMV doubles Tunisia production in oil field takeover
Feb 18, 2011, 16:21 GMT

Vienna - Austrian energy group OMV doubled its production in Tunisia by taking over oil and gas assets of US firm Pioneer for 839 million dollars on Friday, the company said.
The closing of the deal comes just six weeks after president Zine el-Abidine Ben Ali was ousted in a popular revolt and a transition government took office.
'The transaction was carried out in coordination with the Tunisian government,' the Vienna-based company said, referring to the interim leadership.
OMV acquired oil and gas production concessions of 5,700 barrel of oil equivalent per day (boe/d) and exploration concessions with 38 million boe of probable reserves.
The deal raises the firm's production by 1.8 per cent and its reserves by some 3 per cent.
Companies like OMV have trouble competing for major reserves with giants such as Britain's BP and therefore have to invest in minor oil production countries like Tunisia, said Ehsan Ul-Haq at the British energy consultancy KBC.