NZ Oil & Gas (NZO)

[The Plunger]

...

Oil supply is getting tighter everyday and Parker's decision to disincentivise gas exploration will be overturned by the next National party.

On the positive side, wellhead gas prices are bound to rise as realistically there's no show of meeting that 90% target, so known discoveries - "kupe" - will be worth a lot more !!!

Small companies like TAG oil / L&M must be mighty pee'd off with Govt, basically just ups the threshold for economic gas discoveries by quiet a significant margin. Methanex might as well just pack up and leave as well.

[sideline]

a prediction about POO in a Bloomberg article:

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``It's going to soon hit $90 and go north of $100 next year,'' said Peter Schiff, chief executive officer of Darien, Connecticut-based brokerage Euro Pacific Capital, with $700 million in customer accounts. ``We should see $150 to $200 oil in the next two to three years because of the drop in the dollar. Once Asian countries allow their currencies to appreciate, demand will explode there.''


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Maybe we should throttle TUI back a little in the short term????

[boysy]

its already being trottled back it could produce more than the current 45,000ish bopd

[trackers]

NZO winding up nicely - expect to see a good announcement in the next.... two weeks ... with quarterly activity (i.e NZO counting the cash). Good times

[Toddy]

I'm back boys. I just bought myself a nice tidy bag full of NZO's. I could not resist as the current SP is looking cheaper by the day.

[neopole]

looks like small time punters and speccies are moving in again,
is this the beginning of the end of $1 shares?
or are the sheep just grazing untouched fields?
im happy that i have finished my accumulation faze.

[Dr_Who]

My energy portfolio is looking very healthy.

[Toddy]

looks like small time punters and speccies are moving in again,
is this the beginning of the end of $1 shares?
or are the sheep just grazing untouched fields?
im happy that i have finished my accumulation faze.

Last time I grazed on NZO grass it was about TWO WEEKS off being tasty and mature. I got sick so moved onto greener pastures.

The grass is looking better this spring.


Baa

[boysy]

good to see 5:1 buy sell ratio at the moment on ASB securities . And with no announcements as such this could be seen as a change in sentiment about nzo and its future prospects ?

[bermuda]

Just watching a commentary on CNBC re the oil price. The commentators are still referring to oil as a commodity.!! For goodness sake.....it is a precious resource.

I recommend everyone to read 'Twilight in the Desrt' by Matt Simmons and then google his latest presentation.

I hope NZO throttle back Tui to 30000 barrels per day because oil will be $US150 at least by 2010. Throttling back not only preserves the field but also allows more oil to be pumped out. And on a DCF basis...and assuming $US150 per barrel in 2010 it would be prudent.

The whole Oil Industry is at breaking point not just due to geopolitical factors but supply struggling to meet demand. The 200 year oil window we have all enjoyed is about to be closed .....not slammed ,..but gently closed.

No wonder Mr Radford (CEO ) recently upped his holdings