re: blo-it is not just Huinga
Just a few thoughts on BLO.
For the last half year for which production figures are available BLO produced 12312 barrels of oil (source the company) worth about $A2,000,000 approx.
The Rimu field is producing about 1000 BOPD so Bligh's 5% share is about 9,125 barrels of oil over six months.
Furthermore Swift expects to get Rimu up to 3500 BOPD by the end of the year which will give BLO about 32,000 barrels over a six month period.
In addition the shallow field at Kauri will in my opinion be brought on line by the middle of next year.
So with that plus Huinga Bligh is going to have a solid cashflow.
Furthermore the are lots of big hitter wells to come. The rig from Huinga is movinng back to Kauri. Kauri 1A was several hundred metres downdip but hit hydocarbons in the Kauri section and more important hydocarbons in the Tariki and also the Kapuni. The target is 2,00,000 to 5,000,000 barells so even at 5% interest this could the monster from beneath the Black Lagoon as far as Bligh is concerned.
