NZ Oil & Gas (NZO)

[mistaTea]

Looks like not everyone is happy with our attempt to gain an extension...

http://www.scoop.co.nz/stories/AK180...nz-oil-gas.htm

[peat]

You just have to say it is poorly managed that they have to go cap in hand to seek yet another extension. The world isnt an easy place for this industry. Its not a secret that public opinion is against you , and you open yourself up to this.

[mistaTea]

https://www.odt.co.nz/business/minis...lling-decision

[arjay]

They're an odd crowd down in Dunedin. While one part of the city was crowing about having divested in oil investments, another part was falling over itself to offer a base for drillers at Port Chalmers.

[Marilyn Munroe]

They're an odd crowd down in Dunedin.

Not just Dunedin. Timaru is repeating its southern neighbors public squabbles.

https://i.stuff.co.nz/timaru-herald/...d-gas-prospect

https://i.stuff.co.nz/timaru-herald/...-in-the-seabed

Also I read an item on the internet discussing the American fracking boom. Two schools of thought were advanced;

1. The boom was the retirement party of the fossil fuel industry.

2. The fracking industry was making good gains in oil recovery rates and production cost reductions.

If No 2 is correct the chance of a drill bit with some form of NZO ownership hitting the sea bed is small.

Boop boop de do
Marilyn

[flyingmariner]

Looks like not everyone is happy with our attempt to gain an extension...

http://www.scoop.co.nz/stories/AK180...nz-oil-gas.htm

I don't know why NZO even bothers with exploration now. Why subject yourself to all the harassment that comes with it.

NZO could just as easily buy Chevron stock (it's cheap right now), throw in a bit of Schlumberger and toss them in the bottom drawer and walk away from all the aggravation. I bet that in 10 years those two stocks will be worth more than what NZO gets back from any holes drilled.

Let all the greenies wear sack cloth and live in caves. I want them to be happy.

Everyone will be happy. I'll be really happy because as a 20 year holder of NZO I know it will make out like a bandit doing that.

[jumbo]

Well said; I dont beleive nzo will drill in nz and it wont be because off protest's,( but uneconomic's) With oil price moving between 40/60 dollars a barrel and with the oil trade so uncertain who would want to bring a rig all the way down here for risk, It's a shame but that's business.One only have to look at the field of Taranaki to see what benefit they bought to NZ. We are in very uncertain times

[mistaTea]

If No 2 is correct the chance of a drill bit with some form of NZO ownership hitting the sea bed is small.

I just keep thinking to myself... Ofer Global has looked at the Barque opportunity, and was prepared to shell out tens of millions of dollars to get a slice of the pie. It could turn out to be a blunder if nothing comes out of the test drill, but the data they have access to must indeed be interesting for them to make such a large bet. That makes me feel more optimistic.

Also, Cue Energy has the Ironbark prospect to explore. That is another large opportunity that, if successful, could make Cue worth many more times it's current value (Current market cap approx A$50 million).

In the meantime, they need to just not be stupid with the $80 odd million available for investing. Meeting the low hurdle of simply not being stupid would probably enable them to maintain some form of dividend in the absence of other investments.

[mistaTea]

Well said; I dont beleive nzo will drill in nz and it wont be because off protest's,( but uneconomic's) With oil price moving between 40/60 dollars a barrel and with the oil trade so uncertain who would want to bring a rig all the way down here for risk.

Don't forget, Barque is largely a gas prospect, not oil. Gas prices have been relatively stable compared to oil. As an excellent transition fuel, capturing a slice of a large gas field could be an intelligent move.

[jumbo]

Sure the Barque prospect might be a good gas field, The trouble is as I see it they have to have the confidence to go down there, and I don't Believe they will or should until the Govt comes out and fully support's all mining be it gas/oil /and all other mining within reason, or we will get left behind. jumbo