NZO 5.80% 65.0¢ new zealand oil & gas limited

tui production to october 31

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    NZOG has just released the latest update on TUI production from July 1, 2008 to the present day October 31, 2008.

    As expected TUI has managed to produce 4 million barrels in the 4 months.

    "Production Performance
    Production began on 30 July 2007. Total production in FY08 (year ended 30 June 2008) was 14.23 million barrels. NZOG's share of production was approximately 1.78 million barrels
    Oil Production since 1 July 2008:

    1 July-31 October: Approx 4.0 million barrels. NZOG's share of production approx 500,000 barrels "

    The average price for oil in recent weeks is also interesting :

    Tapis Benchmark Crude - the weekly average Tapis price per barrel

    Week ended Average Tapis Price NZ$ Equivalent
    24/10/08 US$72.28 NZ$129.95
    17/10/08 US$79.40 NZ$129.65
    10/10/08 US$88.26 NZ$148.31
    03/10/08 US$101.11 NZ$152.87

    Interesting to note that in the last two recent weeks while the Tapis had declined to US$72.28 (cf US$79.40 the week before) the NZ$ equivalent had actually gone up slightly. Courtesy of the exchange rate changes.



 
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