NZ Oil & Gas (NZO)

[fish]

[QUOTE=Bilo;220409]
You should be able to see that Tui could be at least twice as large as currently booked. Future decline? We haven't seen much of it yet.

Quite right Bilo-tui is growing !

Tui Oil Production since 1 July 2008:

1 July-27 August: Approx 2.1 million barrels. NZOG's share of production approx 260,000 barrels
Or nzo gross income from tui in first 8 weeks of this financial year=$38.8 million dollars.
We are going to hear great financials tomorrow.
No doubt nzo will remain giving conservative predictions but really is tui only going to produce another 6.9 million barrels over the next 44 weeks (9 million predicted ) or do they need to upgrade yet again production rates
Average nz dollar price at $185 a barrel is also way up on last year .
Dont forget this year we will have interest credit (on 300m ) rather than interest costs .
Its on the cards that this years net income will be as good as last years -additionally might be another windfall if prc is sold .
Its strange the market appears blind to tui ,s production figures but reacts strongly to changes in POO

[Bilo]

[quote=fish;220604]

You should be able to see that Tui could be at least twice as large as currently booked. Future decline? We haven't seen much of it yet.

Quite right Bilo-tui is growing !

Tui Oil Production since 1 July 2008:

1 July-27 August: Approx 2.1 million barrels. NZOG's share of production approx 260,000 barrels
Or nzo gross income from tui in first 8 weeks of this financial year=$38.8 million dollars.
We are going to hear great financials tomorrow.
No doubt nzo will remain giving conservative predictions but really is tui only going to produce another 6.9 million barrels over the next 44 weeks (9 million predicted ) or do they need to upgrade yet again production rates
Average nz dollar price at $185 a barrel is also way up on last year .
Dont forget this year we will have interest credit (on 300m ) rather than interest costs .
Its on the cards that this years net income will be as good as last years -additionally might be another windfall if prc is sold .
Its strange the market appears blind to tui ,s production figures but reacts strongly to changes in POO

43750 bopd -A modern day Rumplestiltskin down there - someone is turning water into oil

[Corporate]

[QUOTE=Bilo;220618]

43750 bopd -A modern day Rumplestiltskin down there - someone is turning water into oil

I'm sure production has only been about 35bopd this financial year....or wait a minute are you talking since production?

[fish]

[QUOTE=shephejame;220620]

I'm sure production has only been about 35bopd this financial year....or wait a minute are you talking since production?

since 1st july-its posted on the nzog website under tui-even has the price tui averaged in nz dollars each week
actually its 37500 per day-including some down days

[Corporate]

[QUOTE=fish;220623]

since 1st july-its posted on the nzog website under tui-even has the price tui averaged in nz dollars each week

yeah but 2,100,000/58 = 36,206, nothing near 43,750

[fish]

[QUOTE=shephejame;220624]

yeah but 2,100,000/58 = 36,206, nothing near 43,750

sorry -I never quoted 43750
must admit on checking my figures i said 38million for gross income first 8 weeks producion but now find it equalled 48 million-better check my figures
Price oil is still rising tonight -oil rigs being evacuated in gulf mexico
Tomorrow onwards should be fun for nzo holders

[Corporate]

[QUOTE=fish;220628]

sorry -I never quoted 43750
must admit on checking my figures i said 38million for gross income first 8 weeks producion but now find it equalled 48 million-better check my figures
Price oil is still rising tonight -oil rigs being evacuated in gulf mexico
Tomorrow onwards should be fun for nzo holders

Good call - it was Bilo that said 43750.

If productions remains as it has for the first two months of the year and the POO remains relatively consistent we could be in for circa $250 million revenue for 08/09.

[Chalice]

New Zealand Oil & Gas (NZOG) is expected to report an "outstanding" result for the past full financial year - on the back of strong oil production and record global prices - with more than $100 million in after-tax profit positioning it well for future growth.

In New Zealand's present recession-headed downturn, the ill-effects of the global credit crunch are finding their way on to the majority of balance sheets.

NZOG is expected to have one of the strongest results of the present financial reporting season when it reports today.

ABN Amro Craigs broker Peter McIntyre said NZOG was in an enviable position compared with many companies, with cash in hand of $280 million ($4 million last year), and growth potential on several fronts, ranging from its present assets to new opportunities.

"NZOG couldn't have timed its production run better in a year highlighted by record, sustained global oil prices," he said.

ABN had upgraded NZOG's 12-month share price target by 4.4% from $2.27 to $2.37 and described the company as an "excellent local opportunity" for New Zealand investors wanting exposure to the global oil market and carried a "buy" recommendation.

Mr McIntyre noted the Tui field was providing all the field owners with $890,000 revenue per day.

For every $US1 dollar fall in international barrel prices, Tui lost $US5000.

However, for every 1% decline of the New Zealand dollar against the US dollar, Tui recouped $US12,000.

NZOG's 12.5% interest in the offshore Taranaki Tui field had produced oil beyond expectations - more than 15 million barrels - with its estimated reserves having risen, and its 15% interest, Kupe, would likely see oil and gas production begin by mid-2009.

NZOG had paid its first dividend in a decade, of 5c, in April, with ABN forecasting subsequent annual dividends of 5c, 10c and 11.5c, which equated to dividend yields rising from 3% to more than 7%, Mr McIntyre said.

ABN is forecasting an after-tax profit of $103.6 million, compared with $6.3 million a year ago before Tui came fully into production and global oil prices began steady rises to a record $US147.17 in early July.

Oil was about $US114 this week.

Mr McIntyre said the oil "bubble" had burst in recent weeks, lowering the record prices, and while predicting NZOG would lose some revenue as oil eased towards $US100 per barrel, the weakening of the New Zealand dollar could offset some of that downturn.

He said NZOG had signalled a divestment of its share in listed high-quality coking coal company Pike River Coal on the West Coast, which NZOG spun off in May 2007 dropping its holding from 61% to 31%.

NZOG would expect to get a good price for its shares, and would look elsewhere for more oil-orientated investment - possibly in Taranaki, overseas or in the frontier Great South Basin.

[fish]

[QUOTE=Chalice;220668]New Zealand Oil & Gas (NZOG) is expected to report an "outstanding" result for the past full financial year - on the back of strong oil production and record global prices - with more than $100 million in after-tax profit positioning it well for future growth.
report is out
5 cent fully imputated dividend
brilliant

[Taijon]

All good stuff and another 5 cents per share dividend. Mr Fish will be pleased!!!!!!!!!!!!