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07-07-2008, 07:07 PM
#5001
Member
Original target zone was expected at approx 2850m with a total depth of 3150m planned
They hit the target zone at 2896m.
They had estimated 51 days to drill Momoho. Started drilling 19 June = 18 days to get to target depth. Does anyone have any theories on the short time it has taken to drill so far, did they underestimate or did they allow 26 days to complete testing and supsend the well for development?
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07-07-2008, 07:16 PM
#5002
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07-07-2008, 07:27 PM
#5003
Banned
Originally Posted by Chippie
Original target zone was expected at approx 2850m with a total depth of 3150m planned
They hit the target zone at 2896m.
They had estimated 51 days to drill Momoho. Started drilling 19 June = 18 days to get to target depth. Does anyone have any theories on the short time it has taken to drill so far, did they underestimate or did they allow 26 days to complete testing and supsend the well for development?
Chippie,
These big offshore ocean rigs sure drill like the clappers ....
I'm picking that the 51 days also includes time for coring the Farwell formation, to do that they will POOH (pull out of hole) to change drill bit to a coring drill bit, then run in again etc, takes time. Cutting a core will alow the geologists and reservoir engineers to determine the quality of the Momoho reservoir and its ability to produce commercial gas and condensate flows.
Also, if my memory serves me, they are drilling near a fault that cuts across the structure, and I think they want to also test the other side of the fault, to do this they will probably have to back up the main well to a higher level and then kick of sideways to drill a deviated well across to the other side of the fault to test the target strata in that part of the structure.
All this takes time.
Looking at earlier announcemments and old Annual Reports it looks like a successfull Momoho-1 drill into the Momoho structure could indicate a doubling (even trebbling !) in Momoho+Kupe reserves for gas and liquids (oil and condensates) !!
Go Momoho+Kupe ........ Go NZOG ........ Go the Share Price to $2.00 and beyond !!!!
Z
.
Last edited by zorba; 07-07-2008 at 07:38 PM.
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07-07-2008, 07:47 PM
#5004
Originally Posted by tim23
If it was good news the market didn't react mind you it was a poor day again so understandable?
It is very good news
NZO announced in may that if hydrocarbons were found the p50 level is 200 BCF equivalent.
This qualifies for only 5% royalties and it can be easily developed by tapping into kupe and an onshore production facility being completed.
Oil looks like it has found a new level where it may be for some time so high prices should be achieved for minimal expenses and costs .
I believe a sharebroker report valued momoho at 50 cents a share at the p50 level
Tapis is over us $150
nz dollar below $0.76 us
Tui is producing oil worth many times that initially predicted
The market reacts to many things-successful investors get in before the market moves.
I see nzo is up a bit on the asx .
No idea how nzx/nzo will behave tomorrow and will be too busy to follow it
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07-07-2008, 09:01 PM
#5005
Junior Member
Originally Posted by Oiler
Would be nice to see an update on the flow rates from NZO
Let the good times roll
Oiler
http://www.nzog.net/tui/
Production Performance (since 30 July 2007)
Total production for FY08 (to 30 June 2008): Approximately 14.2 million barrels.
NZOG's share of production for FY08: Approximately 1.78 million barrels.
Production since 1 July 2008
Up to 6 July: Approx 150,000 barrels. NZOG's share of production approx 20,000 barrels.
If the above is correct (150,000 barrels) wouldn't that suggest that the production levels have already dropped well under 40,000 barrels a day?
NZX: NZO, NZOOD
ASX: ADY
NYSE: MTKN
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07-07-2008, 09:13 PM
#5006
Originally Posted by leecoker
http://www.nzog.net/tui/
Production Performance (since 30 July 2007)
Total production for FY08 (to 30 June 2008): Approximately 14.2 million barrels.
NZOG's share of production for FY08: Approximately 1.78 million barrels.
Production since 1 July 2008
Up to 6 July: Approx 150,000 barrels. NZOG's share of production approx 20,000 barrels.
If the above is correct (150,000 barrels) wouldn't that suggest that the production levels have already dropped well under 40,000 barrels a day?
Good spotting - Surely that must be wrong.Tui averaged 42,500 every day for 335 days. It seems wierd that it can be as low as 25,000 for the six days of July.
Anyone else got thoughts?
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07-07-2008, 09:13 PM
#5007
what is the value of momoho ?
At the stage of finding hydrocarbons nzo have said p50 for momoho is
200bcf=166 million tons oil equivalent=1245 million barrels oil
nzo share is 15%=187 million barrels oil
This is far too much and i assume i have been far too optimistic
Have used the definitions below
Barrel
A unit of measure for oil and petroleum products that is equivalent to 42 U.S. gallons.
1 barrel = 35 Imperial gallons (approx.), or 158.978 liters (approx.);
7.5 barrels = 1 tone (approx.);
6.29 barrels = 1 cubic meter.
BBL
Barrel
BCF
Billion cubic feet
1 bcf = 0.83 million tones of oil equivalent
Please could someone do there own calculations and post the P50 level in barrels of oil equivalent
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07-07-2008, 09:18 PM
#5008
Originally Posted by shephejame
Good spotting - Surely that must be wrong.Tui averaged 42,500 every day for 335 days. It seems wierd that it can be as low as 25,000 for the six days of July.
Anyone else got thoughts?
Do they pump it 24/7 or is there some down time due maintenance which fell in these six days?
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07-07-2008, 09:20 PM
#5009
Originally Posted by 777
Do they pump it 24/7 or is there some down time due maintenance which fell in these six days?
Not sure. Good question though. I assume they pump it on weekends?
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07-07-2008, 09:22 PM
#5010
Member
Originally Posted by malcolm
IT WOULD BE NICE ------BUT THE ANSWER IS NO!!!! $1 =TAX@ royalitywill leave ==57cents
Malcolm, the majority of your posts recently I notice you have found the '@' key.......whilst your CAPSLOCK seems to have a mind of its own, I am sure that your keyboard has a '&' on it....
@ = at
& = and
The quality that is lacking is quality.
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