NZO 0.00% 45.0¢ new zealand oil & gas limited

current info

  1. 7,174 Posts.
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    The latest information I have tracked down from NZOG (Chris Roberts) indicates that the production rate has declined a bit.

    That is to say that the water rate has increased (though not as soon as originally modelled) and therefore there has been a slight decline in daily oil production.

    The JV is now working on a daily production rate of 45,000 bopd - though actual daily production can vary a bit from that target.

    The field has been performing better than originally thought but it is not expected to continue at current levels.

    However they continue to expect to "exceed" (my emphasis) 12 mbo in the 2007/2008 financial year

    So things are dropping off a little from the 48/50,000 bopd rate but it still obviously doing quite nicely - especially with the Tapis rate up around US$100 again.
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