NZ Oil & Gas (NZO)

[Lion]

how about the nzx is not very liquid and most dealers in the know have pretty much discounted nzoo stock as being a bit of a joke.

Ummmm, what's NZOO, notie?

[Billy Boy]

Ummmm, what's NZOO, notie?

Maybe the options !!!
BB

[Casa del Energia]

how about the nzx is not very liquid and most dealers in the know have pretty much discounted nzoo stock as being a bit of a joke.

Aw - lighten up Notie. Have you been subcontracted by McDunk to be the Christmas grouch? NZO is no where near a joke - it is now paying truck loads of royalties into the treasury coffers, tax, dividends, helping the balance of trade, employing people - - and a major mover and shaker in the NZ oil industry. No joke - except on those who eschewed it and have not riden the NZO up elevator over the last couple of years.

[Turboman]

NZO
11/12/2009
MINE

REL: 0928 HRS New Zealand Oil and Gas Limited

MINE: NZO: Albacore Exploration Well Disclosure Notice

NZOG (New Zealand Oil & Gas Ltd) advises that as at 06:00 hours on 11
December, the following operations have been completed on Albacore-1:

- The 20 inch section has been drilled to a final depth of 207m MDRT
(measured depth below rotary table) with casing run and cemented.

- The 17-1/2 inch section has been drilled to a final depth of 1173m MDRT.

- 13-3/8 inch casing has been set at 1161m MDRT.

The current operations involve drilling out cement and preparing to drill
ahead in the 12-1/4 inch hole.

The well has an expected total depth of 2200 metres. The first of several
drilling targets is a Pliocene Fan at approximately 1470 metres.

Albacore-1 is an exploration well located 70km north of New Plymouth in the
northern offshore Taranaki basin. Drilling began on 5 December 2009 and is
expected to take approximately 20 days to reach total planned depth. The well
will then be plugged and abandoned and the results analysed.

Participants in the Albacore permit are:
Westech (Operator) 50%
New Zealand Oil & Gas Ltd (through its subsidiary NZOG Offshore Ltd) 40%
Mighty River Power Gas Investments 10%
End CA:00189029 For:NZO Type:MINE Time:2009-12-11:09:28:59

[COLIN]

how about the nzx is not very liquid and most dealers in the know have pretty much discounted nzoo stock as being a bit of a joke.

I think the joke's on you, Notie. NZO has well and truly outperformed the NZX50 over the last couple of years (spanning the GFC period).

If these "dealers in the know" are linked to "broking firms in the know" then its no wonder I choose to ignore broker advice when managing my investments.

[manxman]

how about the nzx is not very liquid and most dealers in the know have pretty much discounted nzoo stock as being a bit of a joke.

The pattern all this week has been for NZO to open weakly with the price dropping on very small volumes, then more serious trading late in the day with substantial bids coming in after 4:45 pushing the price back up.

Getting all the good news right at the end of the day is pushing up the wine consumption.

Changing the subject, nice to get an Albacore update. Will they test each target zone as they go, or do they drill all the way down and then test as they come back out? Looking at the graphics, they should be in the first target zone by Monday.

[Casa del Energia]

The pattern all this week has been for NZO to open weakly with the price dropping on very small volumes, then more serious trading late in the day with substantial bids coming in after 4:45 pushing the price back up.

Getting all the good news right at the end of the day is pushing up the wine consumption.

Changing the subject, nice to get an Albacore update. Will they test each target zone as they go, or do they drill all the way down and then test as they come back out? Looking at the graphics, they should be in the first target zone by Monday.

This would only be a guess - but surely you'd have to put the logger thingie down at each target because of the need to run casing on when continuing drilling (which would surely seal the target strata off)… unless there is absolutely no sign of hydrocarbons in the mud - in that case - run on to the next target.

[manxman]

This would only be a guess - but surely you'd have to put the logger thingie down at each target because of the need to run casing on when continuing drilling (which would surely seal the target strata off)… unless there is absolutely no sign of hydrocarbons in the mud - in that case - run on to the next target.

So we should get a scenario of short spells of drilling with significant pauses for the technical stuff. We need a young buck to seduce the tea lady. Are you listening Shrewdy?

[Casa del Energia]

So we should get a scenario of short spells of drilling with significant pauses for the technical stuff. We need a young buck to seduce the tea lady. Are you listening Shrewdy?

I can't remember how long it takes to change over to the line logger - it is not to onerous from memory. Biggest hassel is if the wire snaps - then they have to lower an extension ladder and send someone down to get it back. (Just kidding - they actually lower him on a rope - extension ladder would be too short).

[COLIN]

I can't remember how long it takes to change over to the line logger - it is not to onerous from memory. Biggest hassel is if the wire snaps - then they have to lower an extension ladder and send someone down to get it back. (Just kidding - they actually lower him on a rope - extension ladder would be too short).

Must be a very slim man, to fit inside a 12 inch bore!