NZ Oil & Gas (NZO)

[boysy]

lets hope the pr machine is turned on also i mean honestly you would think with all the good news that NZO have had ( reserves upgrade/ higher oil prices / lower than expected water cut ) they would be blowing their own horn. Lets just hope the figures in the quarterly speak for themselves.

[digger]

Must say... I'm very much looking forward to the quarterly activities report due out at the end of the month showing how much dinero's flying in via TUI!

This quartely always seems to come out a little earlier than other quartely. Like not at the end of oct but in time to be read before the AGM.Now the end of march quartely takes the full month of April to get printed.But remember this report is only two months production not the full 3,so the first full one will be in Jan 08 covering oct,nov dec.

[digger]

Bermuda,i would be very suprised if David would be releasing anything this close to the AGM. Most of the questions already asked i would be expecting to be fully covered at the AGM. Still it is a way of getting the feel of the shareholders and the questions out in advance.
My queiry is why is the SP so low given all the positive news that is flowing.Also when the water cut gets to the origional expected amount is it fair then to assume that 28 million barrels are left to develop?

[peterb]

What do people think about this announcement from AWE?

AWE’s Kopuwai-1 drilling update
AWE Ltd (“AWE”) reports that the Kopuwai-1 well is at a depth of 3,876 m. Current
activity is pulling out to change the bit.
Since the last report, the well has been drilled from 2,310 metres to 3,876 metres. Oil
shows were encountered in the Kapuni F Sand over the interval 3,655 to 3,690
metres, but the logs recorded while drilling indicate that the sandstone beds are either
poor quality or finely interbedded over this interval.
Once the well reaches total depth of approximately 4,050 metres, wireline logs will be
run in order to assess the economic significance of the F Sand interval.
Kopuwai-1 is in New Zealand’s western Taranaki basin in PEP 38482, approximately
10 kilometres north of the Tui Area oil project in 125 metres of water.

[shasta]

What do people think about this announcement from AWE?

AWE’s Kopuwai-1 drilling update
AWE Ltd (“AWE”) reports that the Kopuwai-1 well is at a depth of 3,876 m. Current
activity is pulling out to change the bit.
Since the last report, the well has been drilled from 2,310 metres to 3,876 metres. Oil
shows were encountered in the Kapuni F Sand over the interval 3,655 to 3,690
metres, but the logs recorded while drilling indicate that the sandstone beds are either
poor quality or finely interbedded over this interval.
Once the well reaches total depth of approximately 4,050 metres, wireline logs will be
run in order to assess the economic significance of the F Sand interval.
Kopuwai-1 is in New Zealand’s western Taranaki basin in PEP 38482, approximately
10 kilometres north of the Tui Area oil project in 125 metres of water.

From an NZO perspective not much, it doesnt concern us!

[shasta]

I am meeting with David Salisbury next week. If any poster has any relevant questions on NZO or Pike please either email them to me or post them on this thread. I will post replies on this thread after I have cleared them through David. Cheers

Bermuda

Thanks for the offer to relay comments to DS.

1. I would like to know how NZO hopes to achieve it's stated target of 2mmbo per annum, whether by outright acquistion, new exploration, or established farm ins, & what is there preferred option?

2. I would also like to know any of NZO's future contractual (or otherwise) committments with there current JV partners (AWE, PPP & Mitsui), & have they had talks with other Australian/NZ O&G companies?

3. Lastly, the GSB - Do NZO have any plans to apply for permits down there, & if not, is Taranaki still a viable option for NZO, or will they head to Australia in future?

Thanks again

[peterb]

From an NZO perspective not much, it doesnt concern us!

Obviously not directly, but if it proved commercial, AWE and Mitsui may want to negotiate with the rest of the Tui JV to tie it back to the Urumoa: while this would obviously mostly benefit AWE, it would also improve the lifetime of the Tui field, thus increasing recoverable reserves for NZO. Also, AWE is the operator of a number of NZO's permits with remaining prospects, so for them to have confidence in Taranaki is important for a good portion of NZO's future drill prospects. Also, more generally, good exploration results are good for permit holders in the area in general: they increase investor confidence in the area, they make project finance a wee bit easier, and critical industry mass ultimately reduces costs for all the players involved.

I'm not trying to ramp this announcement: I'm not sure if it's good or bad news. I was just thinking maybe someone could decipher the technical terms they used in the announcement.

Disc: hold AWE

[shasta]

Obviously not directly, but if it proved commercial, AWE and Mitsui may want to negotiate with the rest of the Tui JV to tie it back to the Urumoa: while this would obviously mostly benefit AWE, it would also improve the lifetime of the Tui field, thus increasing recoverable reserves for NZO. Also, AWE is the operator of a number of NZO's permits with remaining prospects, so for them to have confidence in Taranaki is important for a good portion of NZO's future drill prospects. Also, more generally, good exploration results are good for permit holders in the area in general: they increase investor confidence in the area, they make project finance a wee bit easier, and critical industry mass ultimately reduces costs for all the players involved.

I'm not trying to ramp this announcement: I'm not sure if it's good or bad news. I was just thinking maybe someone could decipher the technical terms they used in the announcement.

Disc: hold AWE

Perhaps Oiler2, Shrewd Crude, Mattyroo could assist?

[peterb]

Yeah, hopefully. But you see what I mean?

[shasta]

Yeah, hopefully. But you see what I mean?

I get what you meant, re-reading the ann, but given the $5m a week NZO pockets hasn't budged the SP an inch, i'm not holding much hope that NZO may benefit from AWE's non JV exploration.

The big Taranaki offshore drilling campaign has been largely disappointing & although nothing is a given in the O&G game, the Taranaki area has a better than avergae industry "strike rate".

As i posted to Bermuda before, will be interesting to hear David Salisbury's comments on whether NZO stays in the Taranaki basin or tries elsewhere?