NZ Oil & Gas (NZO)

**winner69** · 18-03-2009, 03:38 PM

Originally Posted by Dr_Who

The NZX SSH announcement is a complete disgrace compare to the ASX ssh announcement.

I can bearly read the NZX ssh notice. Looks like something the dog dragged it. :mad:

Dr .... register for MyNZX at www.nzx.com (its free) and clear as mud and all the stuff that is sent through to them (accounts, presos, forms, letters in full etc) are attached as well ... but only stay for 3 months .... pay and get longer

Just as good as ASX except that only access for 3 months but enough moan about tht eventually that might get better as well

**Dr_Who** · 18-03-2009, 03:40 PM

Thanks Winner.

**Nitaa** · 19-03-2009, 11:46 AM

FYI

Oil closing in on $50 but offset with the US currency at $0.5445

**boysy** · 19-03-2009, 01:06 PM

you have to wonder why NZO are carrying such a large ammount of USD wonder if any have been converted yet.

**777** · 19-03-2009, 01:33 PM

Originally Posted by boysy

you have to wonder why NZO are carrying such a large ammount of USD wonder if any have been converted yet.

OK so what would they convert them to. I hope you won't say $NZ.

**zorba** · 20-03-2009, 08:05 AM

.
Oil Price pushes through US$50 / barrel ....... Hooray !!!

Looks like a pretty solid move with all the more expensive blends including Tapis and WTI well above US$50.

Look for a bounce in oilers with production and reserves ......

Z

http://futures.tradingcharts.com/intraday/CL_J9

http://www.upstreamonline.com/market...id=markets_oil

**Awamoa** · 20-03-2009, 08:37 AM

I hope they got some hedging in place while the $NZ was around $US.50.

**Nitaa** · 20-03-2009, 08:54 AM

New 8:30AM Friday Mar 20, 2009

A weakened dollar and evidence that Opec has significantly slowed production sent oil prices soaring to new highs for the year today.

Benchmark crude surged US$3.47, or 7 per cent, to settle at US$51.61 a barrel on the New York Mercantile Exchange.

"I think we'll see higher oil prices for a while," said Michael Lynch, president of Strategic Energy & Economic Research. "There's an expectation that the market has bottomed out."

Analysts rushed to buy crude after the Federal Reserve announced yesterday it would buy long-term government bonds, a measure that's expected to jolt the economy with lower rates on mortgages and other consumer debt.

**Ponda** · 20-03-2009, 09:22 AM

Just off the press. Always good to hear good news

NZO
20/03/2009
MINE

REL: 0920 HRS New Zealand Oil and Gas Limited

MINE: NZO: Taranaki Permit Awarded

New Zealand Oil & Gas Ltd (NZOG) and its joint venture partners from the
successful Tui oil fields development have been awarded a new exploration
permit in the offshore Taranaki Basin.

Crown Minerals has notified the joint venture that it has been successful
with a "Priority in Time" application that was submitted in November 2008 for
an area covering 3000 sq km.

The new Petroleum Exploration Permit (PEP) 51321 lies immediately to the
south of PEP 38483, which the joint venture already holds.

The joint venture partners and their respective shares of PEP 51321 are:
AWE New Zealand Pty Ltd 44.3% (Operator)
Mitsui E&P Australia Pty Ltd 22.7%
NZOG* 18.9%
Pan Pacific Petroleum* 14.1%
*Through subsidiaries

From analysis of existing data the joint venture believes there are several
promising structures which could contain oil and/or gas. However, over much
of the permit area no seismic data has been acquired since 1981 and no
exploration wells have ever been drilled.

The permit has been awarded by the Government for an initial term of five
years. In the next 12 months the joint venture intends to reprocess 800km of
historic seismic data using modern analysis techniques, and conduct
geological and geophysical studies.

In year 2, the joint venture has committed to acquiring, processing and
interpreting 200km of new 2D seismic data. A decision on drilling an
exploration well is to be taken at the end of the second year.
End CA:00177639 For:NZO Type:MINE Time:2009-03-20:09:20:11

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