NZ Oil & Gas (NZO)

**digger** · 18-07-2010, 08:30 PM

Originally Posted by RRR

Interesting and action packed week ahead. To buy or not to buy is the difficult choice to make. I am not moaning, it is good to be in a situation like this.

Hey i agree with the need for a reasonable dividend as well as a drilling program. Notie is trying to misquote me ---suprise,suprise. It it is just at the moment i am more interestwed in the drill results---hopefully on Thursday.

**blockhead** · 19-07-2010, 08:44 AM

Should be an ann before Thurs I think Digger ??, drilling and logging must be all done and the workers will be just fishing over the side of the rig till they move on

**blockhead** · 19-07-2010, 09:38 AM

NZO
19/07/2010
MINE

REL: 0933 HRS New Zealand Oil and Gas Limited

MINE: NZO: Kahu-1 Exploration Well Disclosure Notice

NZOG (New Zealand Oil & Gas Ltd) advises that as at 0600 hours today (NZ
time) plug and abandonment operations were starting at the Kahu-1 exploration
well.

Wireline logs were acquired after reaching a total measured depth of 3,835
metres.

The targeted Kahu valley feature was located as prognosed but was not
reservoir quality sandstone. No significant hydrocarbons were found.

The Kahu-1 well was an exploration well within PMP 38158, located
approximately 3 kilometres east of the producing Tui oil field.

At the conclusion of operations at Kahu, the Kan Tan IV drilling rig will be
released to the joint venture drilling the Tuatara-1 exploration well.

**BigBob** · 19-07-2010, 09:38 AM

The targeted Kahu valley feature was located as prognosed but was not
reservoir quality sandstone. No significant hydrocarbons were found

**blockhead** · 19-07-2010, 09:42 AM

Don't be too depressed Big Robert, remember this from just last week,................."At current prices, the additional NZOG reserves have a sales value of nearly NZ$100 million."

It aint all bad

**Balance** · 19-07-2010, 09:53 AM

Originally Posted by digger

That is only true because on average there are about 10 dry wells for every economic one. So it becomes true that a falling SP coming up to next thursday report will leave jitters and punters will get out as early as possible.It tells us nothing thought about the well. If completely dry AWE would want that out before the weekend and out of the road.
I am betting it is another Tieke. A good show but not quite enought. Probably be told we are now looking at another side drill sometime in the future.
Balance ,PIKE will indeed be a winner but you will not find that in past preformances.Mining to NZ is a bit like the All Whites.We are starting at the bottom and slowly finding out what we are suppost to do.By the end of 2011 if we are not up to full speed by then,then we probably never will be and need to sell to Canadians who know how to Mine.

Falling share price ahead of drill report = usually dry well.

You cannot beat the mobile phones on the drilling platform when it comes to getting the news out ahead of market announcement.

If it's a gusher, their mates will be in like you pensioners going for the refreshments at an AGM.

**BigBob** · 19-07-2010, 10:06 AM

Originally Posted by blockhead

Don't be too depressed Big Robert, remember this from just last week,................."At current prices, the additional NZOG reserves have a sales value of nearly NZ$100 million."

It aint all bad

Indeed... would have been a nice little booster though.... :o)

**777** · 19-07-2010, 10:15 AM

With current production, more drilling action to come and Pike to contribute in the future there is little downside in the the share. And while this happens 5c dividend a share is a gross return of over 6%.