NZO 0.00% 45.0¢ new zealand oil & gas limited

is this right

  1. 7,174 Posts.
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    Saw on the NZOG website for 18 Feb the latest figures.

    Given as at 18 February : Production from Tui to date 8.6 million barrels of oil with 8.5 million barrels shipped.
    (NZOG's share of Production to date = 1,075,000 barrels)

    Now back on the 8th Feb the announcement was made that NZOG had sold its 1 millionth barrel of oil. So that indicated Tui production had reached 8 million barrels or that 8 million barrels had been shipped.

    So 10 days later they have shipped another 500,000 barrels indicating production still up around that 50,000 barrels per day.

    Now when you take that 50,000 bopd figure and interpret NZOG's share at 12.5 % then that equates to 6,250 bopd.
    If you multiply that by 10 you come up with 62,500 barrels for 10 days.
    So again it must indicate a continuing high rate of production because the difference between the 8th Feb figure of 1 million barrels SOLD and the 18th Feb figure of 1.075 million barrels PRODUCED is obviously 75,000 barrels,
    Ok on the 8th there was probably more produced than SOLD so there could have benn a couple of days production stored on the FPSO. But it still indicates an ongoing high level of production IMHO. If I have got my figures right.

    And Tapis has been up at good levels again.
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