NZ Oil & Gas (NZO)

[Waikaka]

Thanks for the very informative post and link .
I found the estimated flow rate based on Goodwyn on page 13 (not 28 )

Woops apologies for the mix up, I went with page number 28 of the pdf = page 13 in the report.

[mistaTea]

http://nzx-prod-s7fsd7f98s.s3-websit...769/334491.pdf

1.5km deep, great progress.

[blackcap]

http://nzx-prod-s7fsd7f98s.s3-websit...769/334491.pdf

1.5km deep, great progress.

You beat me to the punch. That is great progress. I presume it slows down the deeper they get? And the first few hundred metres through water would have taken no time?

[mistaTea]

You beat me to the punch. That is great progress. I presume it slows down the deeper they get? And the first few hundred metres through water would have taken no time?

Oh is the target depth taken from sea level? Not where the ground begins?

I expect it will def slow down the deeper they go - a lot.

But as of now we have drilled 28% of the target depth! Fantastic to see things humming along nicely.

[blackcap]

Oh is the target depth taken from sea level? Not where the ground begins?

.

I have no idea to be fair. Just presuming it goes from sea level but I could be wrong.

Yes they are humming along nicely indeed.

[Ripping]

Oh is the target depth taken from sea level? Not where the ground begins?

Pretty sure the target depth is 5500m below sea FLOOR. Not a lot of drilling to be done to get through the initial 300m of water depth.

[Wiremu]

Pretty sure the target depth is 5500m below sea FLOOR. Not a lot of drilling to be done to get through the initial 300m of water depth.

Correct on 5500m below the seabed as the target depth - however the usual base for the drillers depth measurements is the distance from the drilling rig's rotary table, so includes the water depth.

[Ripping]

Ah yes you are correct Wiremu. I did google and the NZO drill updates are using MDRT .. so from the first announcement they had drilled around 107m bore depth + ~300m surface to seabed = 407m. Sounds a lot less impressive than drilling a 407m borehole in a day or two !

[fish]

Ah yes you are correct Wiremu. I did google and the NZO drill updates are using MDRT .. so from the first announcement they had drilled around 107m bore depth + ~300m surface to seabed = 407m. Sounds a lot less impressive than drilling a 407m borehole in a day or two !

If they are 1.5k deep must have drilled 1100 metres in a few days .
Looking forward to the progress announcement later this week.
Looks as if the stars are coming into alignment .
The market is slow to respond to the Biden win and the initial success of the Pfizer Vaccine .

[Sideshow Bob]

Ironbark Weekly Drilling Update As At 12 November 2020 NZT

13/11/2020, 9:00 amMKTUPDTEAs at 6:00 11 November 2020 (AWST) the Operator has advised that the Ironbark-1 well had reached a measured depth of 1811 metres.

In the past week, the BOP has been installed and tested and we began drilling the 17-1/2" x 21.2" hole.

The Ironbark well will test the Triassic Mungaroo Formation with multiple sand objectives. The reservoir has been explored nearby at comparably shallower depths and includes discoveries at the Gorgon, Goodwyn and North Rankin gas condensate fields. The primary target is at a depth of 5668 metres TVD subsea in water depths of 301 metres. The well is expected to take around 85 days to drill.

Participants in WA-359-P are BP Developments Australia Pty Ltd (Operator, 42.5%), Cue Exploration Pty Ltd (21.5%), Beach Energy limited (21%) and NZOG (Ironbark) Pty Ltd (15%).

For further information please contact the Company on:
email enquiries@nzog.com