NZ Oil & Gas (NZO)

[Nitaa]

and when was it discovered?

1986.....

So I'll repeat for your benefit where are the Kupes and Tuis in NZO's current exploration portfolio?

Kupe is different from Tui in that most of the asset is gas and the long term contract price is a lot less affected by the oil price movement that in the case of an oil project like Tui. What can make the project more attractive is the condensate and LPG coming off with the gas stream and this is what has made the Kupe project more economic. There will be a long steady revenue stream on this project for NZOG so lets hope they get involved in some elephants around the place.

PPP? Well I think NZOG have missed their chance on that one and the share price has doubled since Radford and the boys upped their holding then dug into their Christmas turkey. maybe they should have been a bit more aggressive then?

Notie. i love posters like you. A lot of bark but not bite. Actually i used to like having people like you for breakfast but i am a lot more mellow in my older age now.

ppp. i thought nzo jumped into it at an opportune time. Remember they sold ppp at 26 cps when they were cash strapped just prior to tui coming on stream. Now they have made about a 50% gain in 6 months. not bad, not bad at all dont you think.

Where is the next big elephant? Thats the $64b question isnt it? If you know then tell me and i may consider that in my portfolio

Cheers, Nita

[blockhead]

Just to help you Notie, this from NOG this morning,

Title: Tui Area Oil Fields

Updated production and oil price information has been added to the Tui page. Regional oil prices are at an 8 month high.

[boysy]

Looks as though TUI is really starting to decline after looking over the last few months production figures . Im guessing that production is now under 17,500 bopd .

figures
17/06 8,950,000 barrels from 1st july 08
10/06 8,850,000
31/05 8,650,000
21/05 8,500,000
14/05 8,400,000
6/05 8,300,000
30/4 8,100,000
23/04 8,000,000
16/04 7,900,000
9/04 7,750,000
2/04 7,600,000
27/03 7,500,000
18/03 7,300,000
11/03 7,200,000
4/03 7,000,000

For the 7-8 millionth barrel it took 50 days avg 20,000 bopd

for the 8-9 millionth barrel it has so far taken 56 days and we still have another 50,000 to go.

looks as though any finds round tui would be welcome boost to production if they can be fast tracted through the existing fpso facilities.

[Xerof]

Yes it's falling, but thats hardly new news. Their forecast production for this financial year was for a smidgeon over 1.1m barrels, and they are there already, with 2 weeks production to come.

I wish other companies could forecast that accurately.....

[boysy]

thats is a good point looks as though they will certainly beat the 9 million barrel production forcast all things going to plan. If i remember rightly the fpso can be joined to more wells as it can handle more than 3 wells ? also i remember hearing that they would try and increase the fluid handling capacity to 180,000 barrells a day i belive this has yet to happen ?

[Pipeline]

Xerof

I dont think NZOG had anything to do with that forecast except multiply it by their equity.

The plaudits for that particular piece of work should be aimed at AWE, as they do all the reservoir work.

Cheers

[Xerof]

Congrats to AWE - AWEsome forecasting

and yes, Boysy, 180,000 capacity was mentioned a while back, with a 12 month lead-in time if I recall correctly. Wasn't a certainty though - merely looking at the possibility

[manxman]

thats is a good point looks as though they will certainly beat the 9 million barrel production forcast all things going to plan. If i remember rightly the fpso can be joined to more wells as it can handle more than 3 wells ? also i remember hearing that they would try and increase the fluid handling capacity to 180,000 barrells a day i belive this has yet to happen ?

The fpso can handle five wells, but it already has four coupled up. If none of the nearby prospects is successful, the fallback plan was to drill another production well into the Tui reservoir, increasing the production rate and total recoverable reserves. If they get more than one strike, then they may need another fpso. Nice problem to have.

[digger]

Rumors are flying. Just heard on TV1 that there is talk of NZO taking out PPP. Also that PPP has PPPV which probably is in a oil find in Vietnam.
This story probably came from someone reading our talk here some weeks back.

[Nitaa]

Rumors are flying. Just heard on TV1 that there is talk of NZO taking out PPP. Also that PPP has PPPV which probably is in a oil find in Vietnam.
This story probably came from someone reading our talk here some weeks back.

TV3 digger and also now on bloomberg