NZ Oil & Gas (NZO)

[digger]

Noggers should be thankful Tui is all paid off and produced a decent chunk during the high oil prices.

Not so lucky for those involved in Maari.
Similar size field, 50m barrels off Taranaki, peak flow rate only 35000, and their drilling rig costing a huge $500K a day, and now oil has dropped below $60.

http://www.stuff.co.nz/4757777a13.html

Your on to it Mr tommy.Was thinking the same thing myself.Not so good over at Pike where first coal coinsides with finanical crash.I had 1/3 million of them but sold out to fund NZOOD conversion at 2-07. Lost a bit with the conversion but less than with pike. But we sure were lucky with the cash flow from TUI as you say.
What has happened with oil now under 60 is for me unbelievable given a 9% world wide depletion rate being posted today or tomorrow. Guess the world can only think of getting through the hour and not think of the future.
Another area where we have fallen on good times is with the directors stting on there hands with acquisitions.What was a bargin last month will be a super bargin next month and a steal some months down the track.
Digger

[AMR]

Another area where we have fallen on good times is with the directors stting on there hands with acquisitions.What was a bargin last month will be a super bargin next month and a steal some months down the track.
Digger

Yes very good point digger. I was annoyed at the directors not trying to pick up cheap stocks last month but then I realised they aren't traders, they will probably negotiate something behind the scene. Looking to re-enter at some point very soon.

[Crypto Crude]

Noggers should be thankful Tui is all paid off and produced a decent chunk during the high oil prices.

Not so lucky for those involved in Maari.
Similar size field, 50m barrels off Taranaki, peak flow rate only 35000, and their drilling rig costing a huge $500K a day, and now oil has dropped below $60.

Hey tommy,
let me quickly explain a few things...

Maari will be a much bigger field than Tui currently is...
(there is abit more detail somewhere on the CUE thread)...
Maari currently has 50m recoverable...
but This is production from only one of the 3 formations in the main field...
And then we can add low risk Manaia into a tie in... and we can possibly add m2a formation, Mangahewa formation....
reserves will be much closer to 100m than 50m when this all comes through...

the maui-4 well in 1970 as you can see missed...(manaia)
proposed drilling location 2rd quarter next year is to the north at the tip of the anitcline.....
low risk stuff here mate... hummm....
p10 of 30-35m recoverable...
p50 of 50m recoverable...

and then we add in Manaia, and maybe the other two formations to total recoverable...

Maari is just fine, We have a good 6 months off full field production... one recent article suggest Sept next year...we have time to see what happens to oil prices which should rise up...

Reading off the chart on the PPP presentation you can see that only 18m barrels have been produced from 50m barrels recoverable at Tui...
still 32 million barrels to come from Tui...
Roughly only 20% to a quarter of the Tui field has been sold at high/very high prices...
I'll put some seismics of the Matariki prospect up over the next week...interesting prospect which could change the whole project 10 fold...
... and hopefully we time full production into a new oil spike...
heres hoping, theres not much we can do about it either way....
good thing first oil delayed an extra 3 months...
out of our hands...
luck to yah...

.^sc

[Crypto Crude]

digger-Another area where we have fallen on good times is with the directors stting on there hands with acquisitions.What was a bargin last month will be a super bargin next month and a steal some months down the track.

This is why ive changed my sentiment on PPP...
all investors are put off by the fact that Pan aint doing much, and sentiment is low...I got ripped to bits on one forumn... remember what it was like on this thread last year before Tui production...?

This thread was in a state of war... sentiment was prodominately negative... Tui production kicked in and did not re-rate the company for 6-7 months... wow... what a prime time this is to start buying NZO/PPP over the next few months...

man... these are the times to get into great stocks when sentiment is low...(PPP)....
I read an article a few weeks ago and they were calling NZO 'market darling'...
get out your brown paper bag money and spread some love around...

.^sc

[Mr Tommy]

Hi Shrewd, thanks for the extra info on Maari.
I cant find a CUE thread though on this site, I wouldnt mind reading up a bit more.
I hope youre right that in 6 months oil will have moved up, but nothing seems to be making any logical sense at the moment.

[Crypto Crude]

check out this page Tommy...
http://www.sharetrader.co.nz/showthr...?t=5040&page=9

I bought with anticipated production ramping up in September, but the weather has delayed the project until now... Drilling is about to start any day now...
this is the basis why I thougth the sp had low down and would have held up pretty well in the current market around 18-20c with production (even in this market)...
in reality the timelines were thrown out, and now presents real good entry points...
later...

.^sc

[blockhead]

How much more depreciation in poo before oil co's start thinking it is better left in the ground until later on when the prices rise ??? I suspect that would apply to producing and exploration co's

[shasta]

How much more depreciation in poo before oil co's start thinking it is better left in the ground until later on when the prices rise ??? I suspect that would apply to producing and exploration co's

Problem is those in production have ongoing rig committments, secured at higher oil prices in a much more competitive environment.

NZO doesn't have debt which helps ease the burden.

[777]

How much more depreciation in poo before oil co's start thinking it is better left in the ground until later on when the prices rise ??? I suspect that would apply to producing and exploration co's

Blockie look back on page 430 where I suggested the same thing.

Macdunk replied to it.

But I agree with you. Maybe production at a lower level.

[winner69]

Shasta ..... can you get rid of that ACT hard man from your signature .... you know they are pack of pussy cats ..... your previous avatar seemed more representative of ACT anyway