NZ Oil & Gas (NZO)

[notie]

you wonder what nzo plans are with their ppp shareholding and how the announcement reguarding vietnam will change there views. Times also running out before taranaki drilling campaign.

nzo would look pretty stupid now if they made a run at ppp to secure that company. that would use a great amount of their cash and the ppp vietnam project is still very much pre-development and not even at the stage of being able to drill a follow up well.

NZ will no doubt go along with awe's taranaki drilling programme like they usually do. you know the tail that wags the dog

[Nitaa]

nzo would look pretty stupid now if they made a run at ppp to secure that company. that would use a great amount of their cash and the ppp vietnam project is still very much pre-development and not even at the stage of being able to drill a follow up well.

NZ will no doubt go along with awe's taranaki drilling programme like they usually do. you know the tail that wags the dog

A lot of ifs there Notie. I think we have to give credit where credit is due. NZO saw PPP as being undervalued and took an agressive stake in PPP which at todays rates is an absolute bargain.

With regards to taranki drilling program, the reality is nzo are along for the ride and dont have control over awe since they are the operator. In the oil business this is par for the course.

I thought even you Notie knew that. :rolleyes

[the machine]

We are of coa-rse dealing in hindsight here. We all somewhat missed the train not only NZO. So hands up who bought in at say 26 before the NZO move. Not me. Who rebought in at 35 where it was for a long time B4 the PPPV venture. I bought another 120,000 then but with hindsight should have emptied the bank. NZO shows a good profit so far and yes it could have been better as yours could have been too.
Really we have to accept that PPP is different especially if PPPV is successful.The drill could end up a company maker.

hands up digger - bought some in oct 08

M

[Mr Tommy]

Good news for NOGs 15% investment.


PPP 'one to watch' after Asian oil find
4:00AM Friday Jun 26, 2009
By Grant Bradley
Pan Pacific Petroleum's stake in an oil discovery off the coast of Vietnam makes the NZX-listed company one to watch, an analyst says.

The company has a 15 per cent stake in the Red Emperor well where testing at two reservoir zones have produced flows at a combined rate of 3265 barrels of oil and 8.1 million cubic feet of gas a day.

PPP has about 5000 New Zealand shareholders, including NZ Oil & Gas, which has a 15 per cent stake in the Australian-based company. Both have a stake in the highly productive Tui field off Taranaki - NZOG with 12.5 per cent and Pan Pacific with 10 per cent.

Research head at McDouall Stuart, John Kidd, said PPP had stayed below the radar but was becoming more interesting from three perspectives; its stake in Tui, the NZOG cornerstone stake and the progress it was making in Vietnam.

"That's a reasonable find from a single well - and to have a flow rate like that is very promising."

No water was found in either zone as the explorers drilled to a depth of 3810m.

The Vietnam venture includes Britain's Premier Oil, Vietnam American Exploration and a unit of Abu Dhabi-based Mubadala Development.

Drilling began at the Rong Do exploration well in Block 07/03 last month. The area was opened up for drilling by a 2003 accord between the Indonesian and Vietnamese Governments.

PPP said a 3D survey was planned to define the potential of the Red Emperor discovery and nearby structures, and to determine future exploration and appraisal activity.

"The discovery of oil and gas is very encouraging for future exploration in the block which has multiple leads and prospects," the company said.

A second exploration well is planned for the final quarter of this year.

PPP said last month that it aimed at a balanced exploration portfolio in proven basins, with a priority on low-medium, rather than high-risk prospects. Vietnam was an exciting first step.

PPP shares have risen from a 12-month low of 34c and yesterday closed down 1c at 55c.


http://www.nzherald.co.nz/business/n...ectid=10580755

[BigBob]

PPP shares have risen from a 12-month low of 34c and yesterday closed down 1c at 55c.
http://www.nzherald.co.nz/business/n...ectid=10580755

Why can't newspapers get just the most basic facts right anymore... the 12 month low was 18.5c, not 34c.... Getting this simple stuff wrong, totally undermines everything else they report on...

[Sehnsucht888]

Why can't newspapers get just the most basic facts right anymore... the 12 month low was 18.5c, not 34c.... Getting this simple stuff wrong, totally undermines everything else they report on...

Yep. Risen from 34c 12 months ago would be correct, but certainly wasn't the low...

[777]

From DB site for PPP

1-Week Range (Low - High): 50 - 60
4-Week Range: 39 - 60
26-Week Range: 33 - 60
52-Week Range: 18.5 - 60


A good decision by NZO so far in taking a holding.

[boysy]

dividend paid today this will help raise nzos coffers a bit

[777]

From todays trade figures.

Crude oil exports fell $90m or 36 per cent, entirely driven by price, with quantities up 18 per cent.

[fish]

From todays trade figures.

Crude oil exports fell $90m or 36 per cent, entirely driven by price, with quantities up 18 per cent.

Just a temporary blip
However from the nzo web site we have a nice rise in oil price over the past 12 weeks-
Week ended Average Tapis Price $NZ Equivalent
19/06/09 US$73.20 NZ$113.93
12/06/09 US$72.00 NZ$111.89
05/06/09 US$68.71 NZ$109.76
29/05/09 US$62.15 NZ$97.09
22/05/09 US$59.76 NZ$96.34
15/05/09 US$59.94 NZ$102.44
08/05/09 US$56.82 NZ$95.82
01/05/09 US$52.67 NZ$92.40
24/04/09 US$52.49 NZ$91.65
17/04/09 US$54.06 NZ$95.16
10/04/09 US$52.44 NZ$89.87
03/04/09 US$51.00 NZ$87.04


Tapis Oil Price Graph