NZ Oil & Gas (NZO)

[digger]

So reading yesterdays post it is clear that NZO is in for happier days as all Balance can rant on about is the past. Tuesdays report should be showing the horizontal drilling nearing an end but I suspect at least another week before we get some ides of how successful Pateke H4 is. To fill the space back to Balance.

[Balance]

So reading yesterdays post it is clear that NZO is in for happier days as all Balance can rant on about is the past. Tuesdays report should be showing the horizontal drilling nearing an end but I suspect at least another week before we get some ides of how successful Pateke H4 is. To fill the space back to Balance.

Remember this, Digger?

"Is it not time to now draw a line in the sand and start looking forward and not backwards? Look at what we have now, which is a working mine with a world class product, good machines and new plant. Systems in place and buyers for the product. The SP is at a very good price so buy up large. If you are not happy then sell up and move on. Stop the negitive about the past as it is the past!"

Written 19 Nov 2010 - the very same afternoon The mine exploded.

http://www.sharetrader.co.nz/showthr...highlight=pike

See, some people like you have got NZOG (and Pike River) so horribly wrong you cannot bear to be reminded but the past is the best indication of the future.

So, reflect on that, Digger.

Without understanding your past, you ain't got no future.

[hilskin]

MINE: NZO: Pateke-4H drilling update - running production liner
NZO
05/05/2014 09:33
MINE

REL: 0933 HRS New Zealand Oil and Gas Limited

MINE: NZO: Pateke-4H drilling update - running production liner

Drilling has ceased at a revised total measured depth of 4,772 metres in the
Pateke-4H well offshore Taranaki, New Zealand, and a 6 5/8 inch slotted
production liner is being run, the operator has advised.

The oil-bearing properties of the Kapuni F10 reservoir are positive and the
well has been drilled to sufficient depth to enable production.

Modelling is currently under way to determine the estimated recoverable oil
volumes and a 2P estimate will be published when the joint venture has fully
analysed the most recently acquired well data.

Data analysed to date is consistent with the operator's pre-drill estimates.

New Zealand Oil & Gas has a 27.5 per cent interest in Tui.

The other Tui joint venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%

[Bella52]

Without understanding your past, you ain't got no future.[/QUOTE]

The shareholders appear to understand the past, hence the changing of the Board!

[Joshuatree]

"The well has penetrated 749 m of the oil bearing F10 reservoir sand which has excellent reservoir properties throughout and is comparable with the producing reservoirs at pat eke-3H and in Amokura and Tui fields"

Looking more and more like the real deal

[freddagg]

PPP anouncement says production liner already done and they sound much more optimistic.

Pateke-4H Appraisal Drilling Update
Pan Pacific Petroleum has been advised by AWE, the Operator of PMP38158, that the Pateke-4H appraisal/development well being drilled by the semi-submersible drilling rig the “Kan Tan IV” has reached a revised total measured depth of 4772m BRT (below rotary table) and has successfully completed installation of the 6 5/8 inch production liner.
The well has penetrated 749m of the oil bearing F10 reservoir sand which has excellent reservoir properties throughout and is comparable with the producing reservoirs at Pateke-3H and in the Amokura and Tui Fields.
Pre-drill 2C resource estimates recoverable from Pateke-4H were estimated at 2.5 million, 375,000 barrels net to PPP. Further work is required to determine the expected recovery from Pateke-4H, but given the excellent reservoir properties initial evaluation suggests a result consistent with pre-drill estimates. Further details of resource estimates will be provided in due course when the data has been fully analysed.
Pateke-4H will be tied-back to the Tui FPSO for production with first oil expected before the end of Q1 2015.

[zigzag]

I think this was always more of an appraisal/production well, rather than a straight out exploration well. This isn't a major, but it is confidence builder. I am wondering why they stopped at 600m short of their original target depth.

[arjay]

"The well has penetrated 749 m of the oil bearing F10 reservoir sand which has excellent reservoir properties throughout and is comparable with the producing reservoirs at pat eke-3H and in Amokura and Tui fields"

Looking more and more like the real deal

Karma is rewarding the patience of shareholders.

[Joshuatree]

Or in my shorter term hold its the Sutra, or the sidetrack holding things together

[digger]

Karma is rewarding the patience of shareholders.

Karma is and was always on NZO's side. Todays report is a balancing nightmare.
I also wonder why they stopped 700 meters short of preplanned depth. Did they have drilling problems or was the resource thinning out. Maybe they estimated that they already had enough and leave the Balance[not a good word to us here] for future generations.