NZ Oil & Gas (NZO)

[Snow Leopard]

Attachment 4215

Best Wishes
Paper Tiger

[Lizard]

Thanks for the subject change, PT. I think "John" has too much time on his hands. We should encourage him to take up charting. I miss the old days when all the arguments were about FA vs TA.

Anyway, nice chart for now. What does the OBV trend say?

[sideline]

Pan Pacific Petroleum sees two Tui wells in 2013

Tuesday 20th November 2012

Pan Pacific Petroleum has told shareholders it hopes to see two exploration wells drilled in the fourth quarter of next year in the Tui oil and gas field, where it has a 10 percent interest.

The first is an in-fill well in the Pateke North sector of the licence area, which the joint venture led by Australian explorer AWE has given approval to undertake, and has the potential to add between one and four million barrels of oil equivalent from Tui.

Among unexplored areas of the licence area, "PPP considers the Oi prospect at 10 million to 15 million barrels of particular interest and is pursuing options to also drill this opportunity in Q4 2013 if possible," chief executive Tom Prudence told the company's annual shareholder meeting.

[Balance]

Attachment 4215

Best Wishes
Paper Tiger

I wonder how the families of the 29 dead miners think of you making that 'boring' comment.

[Lizard]

I wonder how the families of the 29 dead miners think of you making that 'boring' comment.

Personally, I find this ridiculous. Despite this being a sharetrading/investing forum, anyone who would like to discuss NZO as an investment is somehow responsible for cheapening the deaths of 29 miners in a workplace accident at another company in which NZO was invested? In my view, bringing their deaths up in every conversation is just as disrespectful.

[bucko]

ok I’ll play devils advocate with myself now, I personally don’t agree with you Balance and I think you comment on the issue a little too often for my liking but you feel strongly about the issue and I’ll respect that for now.

Can you explain to a novice such as myself why you place so much blame on NZO and the management team when essentially they were investors in PRC, just as we are all investors in NZO here and the royal commission pretty much laid all blame with PRC management and the dept of labor for not maintaining safety standards. As a shareholder I would be under the impression that a company I invested in was up to speed with (one would assume) basic health and safety and would be more worried about major management decisions.

[Balance]

ok I’ll play devils advocate with myself now, I personally don’t agree with you Balance and I think you comment on the issue a little too often for my liking but you feel strongly about the issue and I’ll respect that for now.

Can you explain to a novice such as myself why you place so much blame on NZO and the management team when essentially they were investors in PRC, just as we are all investors in NZO here and the royal commission pretty much laid all blame with PRC management and the dept of labor for not maintaining safety standards. As a shareholder I would be under the impression that a company I invested in was up to speed with (one would assume) basic health and safety and would be more worried about major management decisions.

Your posting is precisely why I make my presence felt on this NZOG thread.

It is too easy for NZOG to sweep under the carpet how intertwined it was with PRC - all the way from its initial majority ownership, to its promotion as a listed entity, its secondment of management and directors to PRC and its unquestioning funding support as PRC went thru' mishap after mishap, delay after delay, cost over-run after cost over-run and finally, financial injection when the mine blew up.

NZOG was more than an investor and shareholder. Proof? DS, ex CEO, expressed his loss of confidence in Peter Whittall but was over-ridden by the Board of NZOG - fact that came out of the RC.

"Lest we forget".

[winner69]

Hey Bal - I see Dow and his mates are still in denial or soemthing like that

http://www.stuff.co.nz/national/pike...-directors-say

[dsurf]

Looking forward......

The Kisaran PSC extends over an area of 2179 km2 in Riau and North Sumatra Provinces. Geologically the block is situated in the northernmost part of Central Sumatra Basin. This basin represents the most prolific onshore hydrocarbon-productive basin in Indonesia. The Kisaran PSC overlies the Barumun sub-basin.

The Kisaran block was awarded on May 17th, 2001 to Chevron and Texaco with a 30-year contract term. On May 17th, 2007 Pacific Oil & Gas (Kisaran) Limited became the operator.

Bukit Energy has a 22.5% participating interest in the Kisaran PSC through its holding subsidiary Bukit Energy Central Sumatra (Kisaran) Pte. Ltd.

Seismic data, both 2D (112 km) and 3D (350 km2), were acquired, processed and interpreted in between 2002 and 2004. The exploration well Parit Minyak-1 was drilled to TD of 2967 m (9734 ft) in 2006. Three DST's were conducted to test the well and oil was encountered in three separate zones. This exploratory well has proven the effectiveness of the petroleum system within the Barumun sub-basin.

The first appraisal of the Parit Minyak discovery – Parit Minyak-2 – is planned to be drilled in late 2012. A successful appraisal at PM-2 would lead to the first POD on the Kisaran Block. In 2013, a further appraisal/exploration test of the greater Parit Minyak structure will be drilled.

The Parit Minyak Field has a potential resource range of 16 MMBO to 33 MMBO within the Pematang-8 and Pematang-4 sandstones based on the Parit Minyak-1 control well and existing seismic.

Participating interests:


Pacific Oil & Gas (Kisaran) Ltd. : 55% (Operator)
Bukit Energy Central Sumatra (Kisaran) Pte. Ltd.* : 22.5%
NZOG Asia Pty. Ltd.** : 22.5%


*Through a 90% ownership of Pacific Oil & Gas (Sumatera) Inc.
**Through a 90% ownership of Pacific Oil & Gas (North Sumatra) Ltd.

Over nineteen prospects and leads have been identified with gross unrisked prospective resources of more than 300 MMBOE. The primary objectives of the identified leads are Sihapas and Pematang sandstones at depths between 1500 and 3500 m.

[pietrade]

Remember you can do as I do and put him on your ignore list. It means his postings are hidden.

Done ......aaaaaaaaaaaaaaghhhhhhh. The relief.