NZ Oil & Gas (NZO)

[boysy]

oil up dollar down

[Nitaa]

the worls isnt jumping because oil is around 70 plus per barrel. it wasnt long ago that many expected oil to colapse when it hit US$50 per barrel. it didnt happen and the world is desentitized at current prices. each benchmark of $80 or $90 will make headlines of course and again the world will keep comsuming. the $100 mark will be extremely significant and possibly cause a signifcant correction of 20% or more.

I am no expert but talk around the traps and has anybody changed their life so much because of the price of oil. not the people i know.

$100 per barrel is not if but when. maybe around that time then alternative fuels will be much more economical such as cng, lpg just like it was 20-25 years ago. petrol prices were 99.9 cents per litre back then so at todays prices for a dwindling supply is still relatively cheap.

oil imo has a long way to go in an uptrend and we aint seen nothing yet.

come on balance....waiting for you to say oil will drop to $10 or $15 per barrel.

[Scuffer]

I think that the world still needs oil always will but the stranglehold that has been around the western worlds neck because of oil is going to loosen its grip we are moving into a different era and this is just the begining.Oil has always been a cheap way to access power but the world is being made to look at other alternatives and fast before the oil runs out we are now using it more than ever, imagine if every chinese indian and indonesian family had a car running on oil derived products.We have to find alternatives we have no choice expect oil to keep rising but I think it will be used more strategically in years to come, I haven't seen a Boeing 747 that can run on anything but aviation fuel yet.

[digger]

Thanks Vince for getting me out of this circular Closed Loop the computer world sometimes operates in. Much of my problem was with XTRA. My wife said i was locked out do to my atrocious spelling.
Thanks everyone for not missing me as i never wanted a swell head anyways.

[arjay]

Thanks everyone for not missing me as i never wanted a swell head anyways.

You been away Digger?

[manxman]

Digger - We missed you, just like we miss Susan of Oriental Bay and the snails that Danny Boy was bringing down to the Pike Tunnel. Mrs Digger has a point about the spelling though. If we wrinklies don't keep up our standards this 4um wlg tkn ovr bi pepl hu tork txt.
Mx

[digger]

You been away Digger?

Hi Arjay,not away just could not relog back in. Was very easy as Closed Loop not just could not relog as digger.
mx ,give me a couple of days to work out the text short hand.


The thing i am now most interested in is the fall off of oil pressure at Tui. When will it be first noticed and how will it compare to the expected modle.The same with the water cut.It will be in these two areas where the best estimate of Tui size will come. By AGM we should have a good idea of the expected full recovery volumn of oil,IMHO.

[bermuda]

Hey Digger,
I didnt have a clue how to sign on . Had to get Vince to walk me through.

Digger you know what has happened? The price of coking coal is forecast to increase by 30% and no one seems to appreciate a most astonishing piece of news. 'Here we go again'

Great about Tui eh? Could easily go to 40 million barrels.

Hopefully NZO wont get slaughtered tomorrow. It ( the sub prime crisis has reared its head again ) Fortunately the oil price is way above forecast and I would predict the $NZ will get hammered again.

NZO is very well protected with excellent revenues and contracts in place should there be a market downturn.

[boysy]

lets just see how many nervous nellys there are tomoro trying to get out tho as you point out lets just hope that dollar falls more than oil will.

[arjay]

Another Hamilton poster recently said they'd been to see the movie "A Crude Awakening" at the Rialto and commented that there were only 4 other people in the theatre. I'm pleased to report that I saw it today at another cinema and the numbers of viewers in the theatre had swelled to 7. A rather sobering movie. The message I got is that we're running out of oil, it's gonna cause a crisis within a few short years, and no-one cares. An interesting angle is that politicians aren't ging to do anything that will make them unpopular (we know that already) so they won't address the issue until the electorate tells them they will support them if they take steps to deal with the problem. Problem is that the public don't care enough to make that phone-call to the politicians (except for the Greens perhaps, but they don't get supported by people with property to protect). In the same vein, I suspect that if tomorrow the sub-prime hammers the market again, the flock will head for bank deposits rather than investing in shares that become more valuable with increasing oil price and decreasing $NZ.