NZ Oil & Gas (NZO)

[upside_umop]

The increase in reserves follows a reassessment of the field by the operator
(AWE) based on interpretation of re-processed 3D seismic, a more detailed
assessment of the Kapuni reservoir and the integration of the production data
from the fields since production began on 30 July 2007. The increased
reserves assume production from the existing four wells, plus the completion
of an additional development well in the Tui oil field, Tui-4H. Preliminary
planning for drilling of this well has begun, with drilling targeted for
2009.

It has been said for a while now that the water cut is below what is expected, so will this mean higher production for longer? Will this also have led to increased reserves? Or just purely on seismic?

Digger, it looks like the 2010 financial year will have massive revenue with the drill for Tui-4H planned for 2009, and Kupe coming fully onboard then...pike will be fully operational and most likely ready to be put under the hammer.

[Toddy]

I am painting the house have more important things on my mind than NZO. The options are still going to be worthless when the music stops thats when you will find out. So what an upgrade how much will come your way it will more than likely end up in the trough. Lot of investors still playing catch up who will be glad to get out they need to court a new set of the blue eyed brigade to take their place. Macdunk

Using 'oil' based paints I presume.

I hope that you didn't fall off your lader when the 30% increase in Tui reserves news came through.

[Bilo]

Here I go ramping again. Up or down depending on your politics….

Re: Tui Project's improving the NZ balance of payments by one billion USD….the entire annual wine industry contribution…adding $25M in capitalisation to NZO

Altogether a miserable response from Kiwis deserting their own.
NZ Oil and Gas is obviously another candidate for the drain out of NZX.

After this a “one AWE share for two NZO shares” offer from AWE would look very attractive for a long time holder. Option holders may front with the $1.50 cash to participate.

Only 200M AWE shares required to take out 260M NZO shares and 140M NZOOD options.

AWE get a foothold in Kupe, more of Tui coin, increase interests in highly prospective PEPs near existing producing wells, and cash in their bank. Sale of the majority share in PRC and $210M in cash from Option holders, could net well over $400M cash to AWE (in just two months, by February, after the tunnel has reached the coal, bank funding has increased, and the coking coal price increase is announced).

AWE increase their cash, reserves, projects, gain a developing but promising NZ team, and every shareholder’s future prospects. Then assimilate Nexus and we have another Woodside in the making…dreams are cheap…so are NZ institutional share buyers….
Are (Dr) Cullens miserable miserly traits being cloned in this country?

NZX and NZ are the potential losers from this continued lack of interest and support in their home grown resource companies.

Oh yes, I know it was a down day in the US of A – but not for oil stocks.

[Mick100]

Using 'oil' based paints I presume.

I hope that you didn't fall off your lader when the 30% increase in Tui reserves news came through.

[Dr_Who]

Abit of selling hitting NZO. Nearly 1.5 million shares traded. I dont understand why people are selling at $1.10?

[Mike.Gayner]

Fed up investors getting out while it's good? Probably a hasty decision, to be honest.

[Dr_Who]

I am tempted to top up at $1.10 and accummulate more shares. Just biting my nails and cant make a decision!!!!

[KiwiBear]

Just a classic buy on the rumour (hunch) Sell on the fact happening!
Those that bought sub $1 and are making a cool gain on those people buying on kneejerk good luck to em! Wish I had the cash to have bought after the Hammer candle the other day :-(

[Nitaa]

I am sure there has been desperate sellers for a long time and this gives them and exit chance. The upgrade, maybe partially already factored into is worth at least 25 cps. This is no brainer stuff and aprt from a colapse in oil prices, sellers today will kick themselves.

Macdunk. You always manage to find a black lining amongst a silver cloud. Meanwhile Balance is on medial leave..suffering from a major heartattack. He will come back when NZO dips another 20 odd percent. Except this will be when nzo is a lot more north than what it is today.

OK NZO, its time for your PR machine to kick in. Well done to the patient ones like Digger and Bermuda.

I wont be surprised to see the SP at $1.20 or more within a week.

ps. Anyone has Balance's addres so i can send him some sympathy flowers?

[airedale]

Dunk and Balance no where to be seen ?

Shane's post was at 12.01 It only took Dunc 9 minutes to get down off the ladder, was his brush out, and pop up right on cue.

When there was no news, NZO was always on his mind....every second post. But when there is good news, Dunc doesn't want to know