NZ Oil & Gas (NZO)

[Balance]

How much has NZOG invested in Tunisia?

Another great investment for the Tunisians !

[fabs]

http://www.thetruthseeker.co.uk/?p=56687

An Experts take on a possible eminent scenario in the M/E.
How an ex Terrorist and No. 1 War-Monger and treat to world peace [ Bibi Nethanyaoo of Israel] could in one fell swoop solve all of USAs problems, by taking Out the REAL or IMAGINED Iranian construction of a nuclear device.

[pietrade]

Great link Fabs. Ta.

[Monkey Poms]

[url]http://www.thetruthseeker.co.uk/?p=56687[/url

An Experts take on a possible eminent scenario in the M/E.
How an ex Terrorist and No. 1 War-Monger and treat to world peace [ Bibi Nethanyaoo of Israel] could in one fell swoop solve all of USAs problems, by taking Out the REAL or IMAGINED Iranian construction of a nuclear device.

Spengler, the author of the article, has worked everything out in fine detail. mmm he should have been appointed
as the head man to run Pike.

[Mr Tommy]

NZOG confirms commitment to drill

The Kakapo prospect off the South Taranaki coast will be drilled when a
suitable rig can be negotiated, New Zealand Oil & Gas Limited confirmed
today.

NZOG was awarded the permit for the Kakapo prospect (Permit 51311) in 2009.
The terms of the permit required the company to choose by this week whether
to commit to drill or relinquish the permit.

Chief executive Andrew Knight says the drill commitment reflects the
company's enthusiasm for the prospect and emphasises NZOG's intention to step
up its exploration activity.

"NZOG has assessed the potential for Kakapo to be several times the size of
the Tui or Maari fields. This has the potential to make a considerable
contribution to our community and the New Zealand economy.

"NZOG has sought to further reduce equity in the prospect beyond our
previously announced arrangement with Raisama Energy Ltd. We have made this
commitment in the confident expectation that additional partners will join
the venture ahead of drilling.

"NZOG is confident enough to move forward with the commitment at its current
equity level. The prospect looks attractive as part of a portfolio of
opportunities for new entrants to New Zealand," Andrew Knight said.

NZOG is reviewing options to secure a rig to drill Kakapo and expects the
drill timetable to be confirmed within the next 6 months.

Kakapo lies in about 95 metres of water 25 kilometres west of the Kupe
gas/condensate field. An exploratory well will be drilled to confirm seismic
indications of the prospect.

The Kakapo prospect is a stacked series of inter-bedded Miocene coastal sands
and shale from a depth of about 1600 metres, which are laterally truncated
and considered to be sealed by deep, shale-filled canyons. It has
prospective recoverable resources of 41 million barrels of oil in the "most
likely" (P50) case for the main target sand alone; allowing for additional
levels both above and below, and the possibility that the trap is filled all
the way to its maximum spill point, there is potential (P10, "possible") for
up to several hundred million barrels of oil in total.

NZOG has an agreement for Kakapo with ASX-listed Raisama Energy Ltd, which
will earn a 10% stake in the permit by paying 20% of the first well costs,
with the carry capped at US$3 million. The well is expected to cost in the
range of US$25-30 million.

[digger]

Yes well done NZO. Good to get back in the saddle.
I for one can not fully understand the need to wait for parnters.Soumds good on the surface to spread the cost but at the same time you reduce the success if it does occure. What is the difference between one drill giving 90% of 200 million barralls at 30 million cost and 10 drills costing the same 30 million giving with the same amount of oil to NZO. To me it comes down to how sure you are of the prior work on the per drill assesment. We have studied this long enought now so it is good that we had to face the drill or drop and we have decided on the drill.
For better or worse let the drilling get organised and underway.
Chers all

[digger]

See Upstreamonline has the same article as Mr Tommy posted on its web site. The Australians are back taking anything good from NZ and calling it their own. NZO is called an Australian listed company which it is but only to a minor extent to its listing in NZ.

[the machine]

I would be keen for ppp to step up the the plate for a share in this hole as well - many posters own both nzo and ppp.

M

[troyvdh]

....machine...you are indeed probably correct.....I am in no way a conspiracy ****er....but often reflect on decisions made....cheers...

[fabs]

....machine...you are indeed probably correct.....i am in no way a conspiracy ****er....but often reflect on decisions made....cheers...

maybe they have not the same confidence in the project, time will tell.
Personally hope nzo is on to something, cause there seems to be not much else worthwhile on the horizon. Kupe and certainly tui are by the end of this year past their peak.
While that does not matter much in the meantime, it could be 3-4 years if lucky to get income out of the above project.