NZ Oil & Gas (NZO)

[Billy Boy]

exactly my thoughts too,
a slow drill could be hard material to get though, which could mean a solid roof to trap the oil.

Nah..... Probably a Garben !!!

[Mr Tommy]

exactly my thoughts too,
a slow drill could be hard material to get though, which could mean a solid roof to trap the oil.

Or after doing 3 weeks repair on the rig, they could be taking it easy, hoping the band aid doesnt fall off.

[the machine]

Or after doing 3 weeks repair on the rig, they could be taking it easy, hoping the band aid doesnt fall off.

that may be true for first couple of days to make sure repairs are ok, but since then its slow [but not as slow as opito at say 2m per hour]
anyway slow drilling is better than quick drilling through slush [kiwi-1]

M

[Casa del Energia]

Or after doing 3 weeks repair on the rig, they could be taking it easy, hoping the band aid doesnt fall off.

Well, I for one would like to know what is coming back up in the mud, diatom fragments (sedimentary), schist - good capping stuff. For all we know they are drilling through Christmas cake.

[arjay]

they're hundreds of metres from the cap that matters so does what they're going through now matter?

[neopoleII]

considering that the rig is sitting on the edge of the continental shelf, having a hard substrait would be helpful.
i would love to see the siesmecs ......... not that i know how to read them..... but if it came with an explaination as to what is there,
and why their drilling, it would put a picture to the project.

[blockhead]

Somebody likes the look of NOG, buyers @ 160 and 161 for 109,000 odd each, maybe disillusioned TEL shareholders changing camp

[Mr Tommy]

Somebody likes the look of NOG, buyers @ 160 and 161 for 109,000 odd each, maybe disillusioned TEL shareholders changing camp

I like the optomists with Sells in at 199 and 209. Go Hoki !!!

[Mr Tommy]

NZOG (New Zealand Oil & Gas Ltd) advises that at 0600 hours (NZ Time) today, the Hoki-1 well was at a measured depth of 3,428 metres and was drilling ahead.

The Hoki-1 well is located in exploration permit PEP 38401 in the offshore Taranaki Basin and is being drilled by the Kan Tan IV semi-submersible drilling rig.

The Hoki-1 well intersected the target North Cape Formation sands overnight, but these were not associated with any indications of hydrocarbons.

It is expected that over the next 24 hours the upper part of the Wainui Formation will be intersected. The well is planned to be drilled to a total depth of approximately 3,570 metres.

[Dworsf01]

NZOG (New Zealand Oil & Gas Ltd) advises that at 0600 hours (NZ Time) today, the Hoki-1 well was at a measured depth of 3,428 metres and was drilling ahead.

The Hoki-1 well is located in exploration permit PEP 38401 in the offshore Taranaki Basin and is being drilled by the Kan Tan IV semi-submersible drilling rig.

The Hoki-1 well intersected the target North Cape Formation sands overnight, but these were not associated with any indications of hydrocarbons.

It is expected that over the next 24 hours the upper part of the Wainui Formation will be intersected. The well is planned to be drilled to a total depth of approximately 3,570 metres.

Given the NZO and AWE SP reaction, it seems that the market's written off Hoki-1. Presumably on the basis of the "not associated with any indications of hydrocarbons" line in the announcement above. Is that a fair assessment?