NZ Oil & Gas (NZO)

[fish]

You must be referring to this: https://www.odt.co.nz/news/dunedin/m...-partners-quit

Yes, Barque and Toroa are goners now. Final nail in the coffin.

Fully agree.
It does seem so ironic that the Greens/Megan Woods by being so blind and obstructive will result in NZ importing more gas and oil and with consequences so detrimental to their causes of reducing pollution and increasing green investments.

[mistaTea]

Fully agree.
It does seem so ironic that the Greens/Megan Woods by being so blind and obstructive will result in NZ importing more gas and oil and with consequences so detrimental to their causes of reducing pollution and increasing green investments.

Interesting find on HotCopper...reinforces what fish has been saying about odds of success and how far technology has come.

https://www.bp.com/content/dam/bp/bu...and-script.pdf

From slide 23:

"Since then, our technology-led exploration efforts have generated six commercialdiscoveries with over 85% success rate, and a finding cost of less than $2 per barrel.To achieve this we used technology such as:
– Advanced seismic algorithms to improve image quality
– Full wave form inversion models; and
– Machine learning to predict rock and fluid properties"

Their current hit rate of 85% is truly staggering.

Also of interest is the fact that their 'exploration and access capital spend' has been slashed from a high of $4.6B in 2010 to a paltry $800M in 2019. So these guys are very, VERY picky on what gets drilled and what they take a pass on these days...

[Onthemoney]

Interesting find on HotCopper...reinforces what fish has been saying about odds of success and how far technology has come.

https://www.bp.com/content/dam/bp/bu...and-script.pdf

From slide 23:

"Since then, our technology-led exploration efforts have generated six commercialdiscoveries with over 85% success rate, and a finding cost of less than $2 per barrel.To achieve this we used technology such as:
– Advanced seismic algorithms to improve image quality
– Full wave form inversion models; and
– Machine learning to predict rock and fluid properties"

Their current hit rate of 85% is truly staggering.

Also of interest is the fact that their 'exploration and access capital spend' has been slashed from a high of $4.6B in 2010 to a paltry $800M in 2019. So these guys are very, VERY picky on what gets drilled and what they take a pass on these days...

Very interesting - bit of interest building in Cue today - are we about to see some propulsion in prices....

[mistaTea]

- are we about to see some propulsion in prices....

One would hope so! Def big interest in CUE today. But...

CUE market cap = NZ150M.

NZO Market Cap = NZ120M.

NZO MC - 50.04% CUE - $50M cash in bank

= $120M - $75M - $50M

= $-5M.

That makes sense!

4% of Kupe and 15% Ironbark is now theoretically worth MINUS $5M!

We should pay someone $5M to take Kupe and Ironbark off our hands, if Mr Market is to be taken seriously right now.

[nztx]

One would hope so! Def big interest in CUE today. But...

CUE market cap = NZ150M.

NZO Market Cap = NZ120M.

NZO MC - 50.04% CUE - $50M cash in bank

= $120M - $75M - $50M

= $-5M.

That makes sense!

4% of Kupe and 15% Ironbark is now theoretically worth MINUS $5M!

We should pay someone $5M to take Kupe and Ironbark off our hands, if Mr Market is to be taken seriously right now.

Really crazy - isn't it ? .. or potentially dirt cheap buying whichever way you look at it ..

[mistaTea]

5.2km deep. Total depth expected by next announcement (Thurs 31/12/20).

I can’t believe we drilled 1km in just 5 days!

Next few weeks will be interesting - hopefully they have more to say in the next update. And that it is good news!

[Fabs37]

5.2km deep. Total depth expected by next announcement (Thurs 31/12/20).

I can’t believe we drilled 1km in just 5 days!

Next few weeks will be interesting - hopefully they have more to say in the next update. And that it is good news!

Surprised at this rapid Progress, Crew may want to be home for X-mas.

Wonder what sort of material they encounter in the remaining few hundred meters to slow them down??

May Neptune and Fortune be with them at this depth.

[fish]

Surprised at this rapid Progress, Crew may want to be home for X-mas.

Wonder what sort of material they encounter in the remaining few hundred meters to slow them down??

May Neptune and Fortune be with them at this depth.

Happy Xmas to all on board.
We are nearly at our destination and I feel relaxed we are in good hands thanks to BP and the NZO team particularly Andrew Jefferies .
Looks like we will arrive safely-do not expect fireworks to mark this.
There will be no flaring and not even a test of gas flow rates.
Just a mtb probe to measure the hydrocarbons in the formation fluid .
Information about success will be tightly held until announced .
I am very biased but feel we are riding a success wave (as must be all the buyers of CUE-the sp has tripled this year )

[mistaTea]

Happy Xmas to all on board.
We are nearly at our destination and I feel relaxed we are in good hands thanks to BP and the NZO team particularly Andrew Jefferies .
Looks like we will arrive safely-do not expect fireworks to mark this.
There will be no flaring and not even a test of gas flow rates.
Just a mtb probe to measure the hydrocarbons in the formation fluid .
Information about success will be tightly held until announced .
I am very biased but feel we are riding a success wave (as must be all the buyers of CUE-the sp has tripled this year )

Everything going well so far in terms of drilling progress. Ahead of schedule, next week will be interesting.

Just a pity that the lack of NZO share trading liquidity seems to be holding the SP back. Especially when you compare it to CUE, which has doubled in value.

Unclear to me to what extent having 70% of shares locked up by OGOG will limit our SP upside in the event of a discovery.

[nztx]

Everything going well so far in terms of drilling progress. Ahead of schedule, next week will be interesting.

Just a pity that the lack of NZO share trading liquidity seems to be holding the SP back. Especially when you compare it to CUE, which has doubled in value.

Unclear to me to what extent having 70% of shares locked up by OGOG will limit our SP upside in the event of a discovery.

Anyone remember that NZ listed mining stock - Spectrum in 1980's - 90's ?

If it's the one I remember - some may recollect the rapid run up from penny dreadful to over $1

Should Gas prospects be discovered with NZO - how many of the 30.5 m remaining loose shares are likely to then be sold ?

Will slightest sniff of any NZOG shares become as scarce as hens teeth ?

what happens when tight & illiquid becomes even more so, and then more eager punters jump in wanting a share of the action ? ;-)

isn't that how any market works - with supply & demand ?

what are the downsides with NZO ?