NZ Oil & Gas (NZO)

[bk]

Does todays close of $1.29 mean that the 5-month downtrend is broken? I am struggling to understand those nice charts Phaedrus is posting, but it seems so.

However, my prediction of $200 Oil by year end seems a little off, so don't take my word for it!

How long before the decreasing production catches up with the still falling demand, and prices will shoot back up? Maybe $200 oil by the end of 2009? Or has this proven that the economy can not stand oil at $150, so before the $200 is reached another market crash will happen? Interesting times for sure

[Sehnsucht888]

I agree bk, according to Phaedrus's chart in post #7365, 1.29 would indicate an upside break out, (assuming the lines don't move)..

Perhaps he can give us an update to confirm.

[manxman]

are you sure umuroa can only handle 5 wells?

AWE article for SPE news in 2006.

The turret incorporates 18 riser slots and is configured to accommodate production, gas-lift and umbilical risers for up to five wells in addition to spare slots for gas sales or injection lines. This allows for the currently planned four Tui Area development wells, plus capacity for the tie-back of one additional well, which could be utilised if one of AWE’s planned near field exploration wells results in a further discovery.

I suppose that if the drilling program yields more than one tie in candidate, there will be some very serious thinking. As DS put it on another matter "Nice problem to have."

[the machine]

AWE article for SPE news in 2006.



I suppose that if the drilling program yields more than one tie in candidate, there will be some very serious thinking. As DS put it on another matter "Nice problem to have."

thanks maxman, so 5 oil productions wells is the cap.

thus find some more oil [serious oil] and they need a another production vessel.

m

[Sideshow Bob]

Another good solid day for NZO, but all the action is over at PPP!!

Possibly confirming a breakout, as per P's chart?

Disc: Holder of both.

[Wiremu]

New Zealand Oil & Gas Ltd (NZOG) has disclosed to the NZX and ASX that by the close of
trading on the ASX yesterday it had acquired 5.77% of the issued shares of Pan Pacific
Petroleum NL (PPP).

NZOG is seeking to acquire a strategic stake in PPP so as to increase its exposure to the
attractive producing Tui area oilfields in offshore Taranaki. The two companies are joint
venture partners in Tui; NZOG with a 12.5% stake and PPP with 10%.

The shareholding is being acquired at a premium to the recent market price of PPP. NZOG
Chief Executive David Salisbury said NZOG believes it is paying a fair and attractive
price to achieve a meaningful shareholding in PPP.

PPP is an Australian company and Australian Foreign Investment Review Board (FIRB)
requirements restrict NZOG to a shareholding below 15% unless FIRB approval is received.

At this stage NZOG is focused on acquiring a strategic stake. In due course NZOG will
reassess its position to determine what, if any, further steps might be taken.

[Dr_Who]

Thanks for buying PPP guys.

[oldowl]

How big (%) is a strategic stake ?

[Casa del Energia]

How big (%) is a strategic stake ?

I guess we wait for the merry-go-round to stop. We are all mushrooms in this affair.

[fabs]

What 6-7 mil. Dollars out of the kitty, at a 50% premium?
A nice X-Mas present for someone.
Merry Christmas all