Forum Archive Index - January 2000

[Chris <autotron@ihug.co.nz>]

So we strike oil in NZ at this time when the world is being held to ransom
like in a james bond senario

Who do we turn to to process it? NZR? NZR like AirNZ is being given away- is
McEwan still keen?






At 10:14 AM 1/26/00 -0800, you wrote:
>I attended the Tauranga presentation yesterday.
>
>In summary. The company is very optimistic for the Hochstetter well and
>Maui West area. Comparisons were made with the Bass Strait in Australia.
>
>The well will take about a month to reach the deepest level where
>hydrocarbons may be found. There are three levels where hydrocarbons may
>be discovered with different estimated reserves at each. Oil deposits
>have been found on the sea bed which is a promising sign.
>
>Asked about the probability of a commercial discovery we were told that
>the industry average is around 1 chance in 10 but for Hochstetter the
>"feeling" was around 1 in 3.
>
>Depending upon a discovery and proven reserves estimates for NZOG share
>price on a NPV basis are from $3 to $200 on current oil prices.
>
>All up I see little downside in NZOG over the next 4 - 6 weeks and
>upside of maybe a price of around $1 prior to final results being known.
>
>Disclosure: Hold NZOG
>
>
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