NZ Oil & Gas (NZO)

[Chippie]

Notie, you must be a very wealthy person with all your immense wisdom.

I purchased a heap of NZO at 26 cents a long time ago and have had to endure dividends and even being issued PPP shares along the way.

I wish NZO were $1.50+ but they are not. I guess I just must be a fool and should have sold out earlier. Never mind I will have to decide when I cash out.

I have personally talked to Chris, exchanged emails and believe he is good at what he does. This is why I told him “good job”

p.s. Perhaps we should compare who had made the most money over the past 15 years of investing. The “fool” might surprise you?

[notie]

Notie, you must be a very wealthy person with all your immense wisdom.

don't worry about me. nzog stock is so going places....pretty much like the rest of the sad nzx

[Chippie]

don't worry about me. nzog stock is so going places....pretty much like the rest of the sad nzx

You are not wrong about the NZX

[Silverlight]

don't worry about me. nzog stock is so going places....pretty much like the rest of the sad nzx

NZO up 5% past 12 months, NZX50 down just over 1%, so sad we should ignore the NZ companies and buy Aussie ones... oh wait the ASX200 is down 7% in the past year, let alone woodside, rio and bhp all down over 20%!

[fabs]

NZO up 5% past 12 months, NZX50 down just over 1%, so sad we should ignore the NZ companies and buy Aussie ones... oh wait the ASX200 is down 7% in the past year, let alone woodside, rio and bhp all down over 20%!

SILVERLIGHT
NZO S/P PRICES RANGED FROM 1st of June to 8th of July 2011 12 months ago from the beginning of that period, from 90-92 cents down to 85 cents.
Not quite sure where you get the 5% rise from?
They certainly have come a long way since the 12 months low of around 62 cents in August last year. Hardly impressive, being now around exactly where they were this time last year.
They also had a 2 cent div. during that time.

[digger]

SILVERLIGHT
NZO S/P PRICES RANGED FROM 1st of June to 8th of July 2011 12 months ago from the beginning of that period, from 90-92 cents down to 85 cents.
Not quite sure where you get the 5% rise from?
They certainly have come a long way since the 12 months low of around 62 cents in August last year. Hardly impressive, being now around exactly where they were this time last year.
They also had a 2 cent div. during that time.

Fabs the low was 58 cents and NZO was under 60 for a couple of weeks.So if you start from that very low point to last friday NZO has gone up just under 45% in a general falling market. The rub here is that NZO fell a mile too much from the TUI downgrade and after the 4 dry wells from the year before it became fashionable to quite NZO at any cost. Anyone buying from that point did very well. I remain somewhat disappointed that NZO only nibbled at the buyback during this time.

[Silverlight]

Not quite sure where you get the 5% rise from?
They also had a 2 cent div. during that time.

I used simple maths, 83 cents start of July 2011, 84 cents close on Friday, 2 cent div + 0.85 cents of imputation gave me a 4.7% return.

I rounded to 5% for simplicity, not to be misleading, apologies if this caused confusion.

[fish]

Kupe upgrade is now official.
Lots more gas/lpg but minimally less oil .
I would be a lot happier if more oil could be extracted but positive big overall increase in hydrocarbons -and mention of extracting it quicker

[Mr Tommy]

Kupe upgrade is now official.
Lots more gas/lpg but minimally less oil .
I would be a lot happier if more oil could be extracted but positive big overall increase in hydrocarbons -and mention of extracting it quicker

Wheres the announcement Mr Fish, I cant find anything yet.

[BigBob]

Wheres the announcement Mr Fish, I cant find anything yet.

From yesterday..:

Increase in Kupe Reserves
3:58pm, 10 Jul 2012 | MINE
NZOG (New Zealand Oil & Gas Ltd) is pleased to announce a significant increase in the proved and probable (2P) reserves in the Kupe gas and oil field.

As previously announced to the market on 27 June 2012, the Operator, Origin Energy, has completed a detailed reserves review integrating petrophysical, fluid sample and well test information with full field static and dynamic reservoir models.

The Kupe joint venture partners have now concluded their independent assessments of the Operator’s review and reached agreement on the revised reserves.

The initial 2P reserves (the best estimate of total reserves recoverable from the field) have been further increased by 13.4%. Added to the reserves increase announced in July 2010, Kupe ultimate recoverable 2P reserves are now 25.8% greater than the pre-production estimate.

Under the latest review, initial 2P sales gas reserves are estimated to have increased by a further 18.3% and LPG reserves by a further 22.8%. Light oil (condensate) reserves, which were increased by 27% in 2010, have been reduced by 1.8%, leaving the reserves 25% above the pre-production reserves.

[See PDF release for table of the 2P Ultimate Recoverable Reserves as at 1 July 2012]

To date Kupe has produced approximately 46.3 PJ of sales gas, 190 kilotonnes of LPG and 4.7 million barrels of light oil (81 PJe).

NZOG Chief Executive Andrew Knight says the reserves review is very good news.

“Such a substantial increase in NZOG’s Kupe reserves is a very pleasing result. We are evaluating market opportunities for accelerating production of the additional gas, and will make a further statement on those as and when we are in a position to do so.”

ENDS