NZ Oil & Gas (NZO)

[digger]

https://www.scoop.co.nz/stories/PO20...tion-in-nz.htm

Didn't I read somewhere that Norway under the pressure from the greenies totally banned caged hens. In a short time Norway found that free range hens lay less eggs and are much more expensive. The final result is that Norway now import imports eggs from France's cage birds.
So great success greenies,you have saved the day stopping all drilling in NZ. Now we will be all poorer buying our fuel from other countries. Great.
But wait there is more. Did not our very own PM go to Taranaki and say oil was done and all the staff could change jobs being empolyed in the tourist industry. Another winner. Bet she got sucked into saying that to passify the greeneis. Another great move

[Wiremu]

OMV discovery at Toutouwai? https://www.nzherald.co.nz/business/...ectid=12324473

[mistaTea]

OMV discovery at Toutouwai? https://www.nzherald.co.nz/business/...ectid=12324473

Interesting.

Though that doesn’t really help us for Clipper given the general negative sentiment towards NZ now coupled with the current economic catastrophe. Nobody will want to spend any money in NZ now.

Maybe if OGOG are successful in their drill Clipper could still have a chance.

[Independent Observer AUNZ]

Didn't I read somewhere that Norway under the pressure from the greenies totally banned caged hens. In a short time Norway found that free range hens lay less eggs and are much more expensive. The final result is that Norway now import imports eggs from France's cage birds.
So great success greenies,you have saved the day stopping all drilling in NZ. Now we will be all poorer buying our fuel from other countries. Great.
But wait there is more. Did not our very own PM go to Taranaki and say oil was done and all the staff could change jobs being empolyed in the tourist industry. Another winner. Bet she got sucked into saying that to passify the greeneis. Another great move

The issue IMHO isn't with stopping the exploration and reducing our dependence on fossil fuels; the issue is with not sufficiently responding with investment in other forms of renewable energy supply. That's where the new jobs (and capital/dividend earning potential) are, rather than tourism.

[kiora]

NZOG not in this one but good news
https://www.scoop.co.nz/stories/BU20...+15+April+2020
PEP 60093 Toutouwai (OMV Operator 57.14%, MEPAU 42.86%) covers an area of 2,136 km2
. The permit was awarded jointly to OMV &
MEPAU in the 2015 block offer. The permit lies immediately to the north of the Tui & Maui fields and has a number of closures directly on trend
from these oil and gas accumulations.

[mistaTea]

NZOG not in this one but good news
https://www.scoop.co.nz/stories/BU20...+15+April+2020
PEP 60093 Toutouwai (OMV Operator 57.14%, MEPAU 42.86%) covers an area of 2,136 km2
. The permit was awarded jointly to OMV &
MEPAU in the 2015 block offer. The permit lies immediately to the north of the Tui & Maui fields and has a number of closures directly on trend
from these oil and gas accumulations.

Much-needed good news for NZ from an energy security perspective.

Not of any help to NZOG of course. Clipper looking less and less likely as time goes on. Perhaps if OGOG/Beach make a discovery in Wherry that might give some hope, but Clipper is so far in the back of my mind right now sometimes I almost forget we even have the permit still!

Ironbark still scheduled to drill December 2020 or early 2021. Haven't seen or read anything that makes me think that will change due to Covid. Australia seem to have struck a better balance in terms of looking after population health while causing as little damage to the economy as possible.

Aussie will want the drill to happen on schedule now more than ever. A discovery and the taxes and royalties owed will be hugely beneficial in their recovery.

Pity our lot don't share the same view.

And with Jacinda doing what she does best - crisis management - the prospect of National getting in this year has dropped (and therefore the offshore exploration ban will stay in place).

Labour can't run the country for sh1t, but you have to give credit where credit is due. Jacinda comes into her own during times like this. I mean, could you even imagine 'Soimon' fronting up and handling this crisis? Or that thing Paula Bennett?

Not I.

[Wiremu]

NZOG not in this one but good news
https://www.scoop.co.nz/stories/BU20...+15+April+2020
PEP 60093 Toutouwai (OMV Operator 57.14%, MEPAU 42.86%) covers an area of 2,136 km2
. The permit was awarded jointly to OMV &
MEPAU in the 2015 block offer. The permit lies immediately to the north of the Tui & Maui fields and has a number of closures directly on trend
from these oil and gas accumulations.

This well is in what was the Takapou permit which was relinquished by NZOG in 2014 as Oi had been unsuccessful, and with 50% equity and being unable to find an additional partner it didn’t “fit the balance of risk and reward” required.

[digger]

This well is in what was the Takapou permit which was relinquished by NZOG in 2014 as Oi had been unsuccessful, and with 50% equity and being unable to find an additional partner it didn’t “fit the balance of risk and reward” required.

I remember some years ago when Brian Roulston and I were talking with Andrew knight [[the CEO at the time] about letting go of the Cosmos well in Tunisia he also gave us an update about the oil prospects near Oi.. This was before Oi was drilled.. At the time AK said the search for the kitchen for the source of the oil supplying Tui was in the opinion of some that it could be north to north west of TUI. In fact he also said it was once oi was drilled the only area left.
Just interesting.. The same old still applies ----oil is where you find it.

[Waikaka]

A lot of these permits have been held by many companies over the years. No reflection on past permit holders I reckon.

OMV ponied up big money on a campaign and hopefully gets rewarded.

Suspect if it is decent discovery we should see some follow up in the next year or 2 in spite of the current low prices.

OMV had to cancel Maui-8. Couldn't get equipment and staff from overseas. Suspect the same situation might happen in Aussie although they have a lot more oily people that can do that specialised work.

Hopefully NZO management is talking to OMV. Great time to have cash to contribute to a development.

[arjay]

Didn't I read somewhere that Norway under the pressure from the greenies totally banned caged hens. In a short time Norway found that free range hens lay less eggs and are much more expensive. The final result is that Norway now import imports eggs from France's cage birds.
So great success greenies,you have saved the day stopping all drilling in NZ. Now we will be all poorer buying our fuel from other countries. Great.
But wait there is more. Did not our very own PM go to Taranaki and say oil was done and all the staff could change jobs being empolyed in the tourist industry. Another winner. Bet she got sucked into saying that to passify the greeneis. Another great move

I agree with Independent Observer on this one. I think most of us can agree that for a range of reasons we have to move away from fossil fuels. However, the key is to reduce demand for the products. What the current govt have done is to reduce potential supply without providing sustainable alternatives, and that might come back to bite them. As for hens, isn’t it good not to be one?