PPP pan pacific petroleum nl

tui production year target cold be beaten

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    The financial year target for production of 4.8 million barrels of oil from the Tui wells could be exceeded slightly judging by a recent update

    The NZO update indicated that production up to 13 June was as follows.
    ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
    Oil Production Performance to date for FY2010
    1 July 09 - 13 June 10: Approximately 4.68 million barrels.
    NZOG's share approximately 585,000 barrels.

    The current daily production target is around 11,000 barrels of oil.

    Tui production began on 30 July 2007. Total oil production to 13 June 2010 is approximately 28.0 million barrels. NZOG's share of total production is approximately 3.50 million barrels.
    :::::::::::::::::::::::::::::::::::::::::::::::::::::::::

    With the update figure of 4.68 million barrels just 120,000 barrels below the target of 4.8 million barrels then that should be easily reached by June 30th.

    In fact given the present target daily production of 11,000 barrels then there is the potential to produce a further 187,000 barrels from the June 13 total.

    Every drop valuable.
 
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