NZ Oil & Gas (NZO)

[Ripping]

looks like it was tui but that it was likely discharged by the umuroa as contaminated dischared water from the tui field. .

which announcement that you read carefully gave you this conclusion ?

[boysy]

on the asx AWEs latest announcement

[Dr_Who]

Holy Moly.. Brent Crude hit $90 this morning!!!

[blockhead]

Holy Moly.. Brent Crude hit $90 this morning!!!

If it goes much higher it should be worth gathering tar balls

[Mr Tommy]

From stuff site ...



An oil slick washed up on Taranaki's coast looks likely to have come from the Tui oil field.

Australian Worldwide Exploration (AWE) media spokesman Ian Howarth, of Sydney, said the company had been advised the washed-up oil was similar to the oil produced from the Tui field.

AWE operates the Tui Area Oil project 50km off the Taranaki coast.

Mr Howarth said the analysis, done by the Taranaki Regional Council, was only preliminary and an investigation to directly link the oil to the Tui field was not complete.

A discharge of contaminated water early on Sunday from the Umuroa, a floating production, storage and offloading facility, could be responsible for the pollution.

"The incident occurred when the tanks were discharged.

"Normally only a portion of the water is discharged. On this occasion, the level in the tank was allowed to go down too far and some contaminated water was discharged into the sea."

Mr Howarth said the spill was reported to Maritime NZ on the day.

Exactly how much oil escaped was not known. "The fact of the matter is it should not have happened, if this is established as the cause."

AWE claims the incident is its first environmental blemish.

Sticky blobs of the tar-like oil have littered some of the coast's best surf breaks.

While there were no visible signs of any harm to wildlife yesterday, the pollution has angered locals. Adrian Fenton, New Plymouth, said he was shocked when he arrived to help clean up yesterday.

"The whole beach just reeked of oil."

Chris Daley said he was devastated when he saw the mess. Whoever was responsible for the spill should own up to what they had done.

Mr Howarth said substantial investigations were going on to find out what happened and how to stop it happening again.

AWE managing director Bruce Wood is expected to visit New Plymouth next week.

The sticky black goo was first spotted coming ashore on Tuesday night. By Wednesday morning, it had spread 10km from north of Kaihihi Rd, near Okato, to Paora Rd, near Puniho.

A three-day clean-up operation run by the TRC and costing more than $20,000 is expected to be completed today.

Maritime NZ marine pollution response team manager Nick Quinn said the chemical analysis of the oil was being done in Australia.

He hoped to have the results within seven working days.

Mr Quinn said it was too soon to say what penalties the culprit could face.

TRC compliance manager Bruce Pope said the clean-up was going well.

"We have got most of it, but we still have another day to go."

About six cubic metres of oil-contaminated sand has been removed from the beach.

[duncan macgregor]

it will be an interesting few days in the market for AWE, NZO, PPP. They all dropped on the ASX by roughly similar ammounts yesterday. PPP by 4.3%, AWE by 4.1% and NZO by 3.3%. Now that the greenies are jumping up and down it looks like further downtrends have to be expected. Thats the risk you take in the exploration and recovery game accidents must happen especially out in rough seas in gale force winds where you couldnt drink a glass of water without spilling the lot. It might be only a drop in the bucket, but its a major disaster for the oil industry in NZ with this greenie govt making the rules. Its another nail in the coffin for the options i expect pass the parcel will speed up now that the music is louder. Macdunk

[boysy]

Macdunk i think we should invent an "Best share bagging advice" award for the Auckland sharetrader meeting and im sure with almost unanimous certainty you would be front runner for this award with your continuiois pass the parcel rhetoric about NZOODs. Will be great to see the man in the flesh at the gathering though thats for sure.

[Sharp737]

Could be just a storm in a tea cup. This is not a major incident although bad enough for the locals. There may be a fine but the project supports locals. Just lessons to be learned so it doesn't happen again. My thoughts anyways.

[rimu]

6 cubic meters of sand. so, a chunk 2 meters wide by 3 meters long by 1 meter deep

probably a couple of trailer loads?

sweet **** all, compared to the millions of cubiic meters of sand on any given beach

[Hoop]

with this oil spill ....what is the worst that could happen.

Fine the companies involved say $100,000 and cost of the clean up say $50,000 ...peanuts!! Overreaction by Mr Market methinks