NZ Oil & Gas (NZO)

[digger]

Doesnt sound as if they are drilling a previously targetted area-NZOG chief executive David Salisbury said his company's assessment is that the central northern Taranaki basin is a very prospective part of the basin. There are three separate play fairways within PEP 38491 -- a Pliocene Fan and two Mangaa sands -- and it contains half a dozen interesting prospects.

He said the Albacore prospect contains three separate target zones that may contain hydrocarbons. The Albacore-1 well will target structures recently defined by 3D seismic at depths of 1,400 to 1,800 m.

Salisbury said NZOG's internal analysis is that Albacore is more likely to contain oil than gas and, if successful, could support an offshore development similar to Tui.

NZOG now has interests in seven permits in the offshore Taranaki Basin and one in the Canterbury Basin. NZOG will be participating in the drilling of at least four wells this summer.

Thanks for that Fish. Quess the question is how close was the last drill to this basin and can it be in any way considered part of it even by some extension. Nerves i suppose.Very little market reaction theses days comparied to years gone by ,but Albacore has the potential to be a company changer if successful.
Somewhat answering my own question,market have a history of falling 3 to 4 weeks out from Christmas ,but rerate between christmas and new year,and peak out by end of janurary. This is a good long term trend with last years melt down being one of the big exception where it just kept heading south until 9 march.So maybe the market disinterest in Albacore is the christmas effect.

[Arbitrage]

NZOG website:

25 November: The first well in NZOG’s summer drilling programme is Albacore-1, in the northern offshore Taranaki basin, 70km north of New Plymouth. The ENSCO-107 jack-up rig arrived on site just after midnight on Tuesday 24 November. It has been pinned to the sea floor but remains jacked up waiting on sea conditions to improve before pre-loading of the legs is undertaken.

[shawsie]

digger interesting observation on silly season effect, is it NOG specific, or oil and gas, or kiwi, or australasian in your opinion?

now that would be a conundrum that perhaps only Phaedrus could conquer...

[digger]

[QUOTE=shawsie;283210]digger interesting observation on silly season effect, is it NOG specific, or oil and gas, or kiwi, or australasian in your opinion?


Hi from my observation it is everywhere Christmas is celebrated,and NZO will not be exempted from it.

[Arbitrage]

unless they strike oil.

[777]

unless they strike oil.

When they strike oil.

[digger]

Once the rig is anchored, the weather shouldn't affect the drilling.

Once it is anchored is the right way of putting it. My ever telling wind turbine is preforming extremely welll last night and today and tomorrow according to the weather report,so i would say the ENSCO-107 crew would be having their hands full just trying to stay on board.

[fish]

When they strike oil.

It looks to me that they are confident of striking more oil around Tui but albacore only has good prospects .

[the machine]

as previously noted re kupe:

"The raw gas stream from the Kupe field is scheduled to be introduced into the plant by early December."

well that time is fast approaching

M

[WACC]

" Hi all." Looks like Dubai my prove a bigger influence than xmas. A buying opportunity awaits. Hey digger has that turbine been shifted yet.