latest update

NZ Oil & Gas has put out its latest update on production from Tui and is as follows :
"Production Performance
Production began on 30 July 2007. Total production in FY08 (year ended 30 June 2008) was 14.2 million barrels. NZOG's share of production was approximately 1.78 million barrels

Oil Production since 1 July 2008:

1 July-18 September: Approx 2.85 million barrels. NZOG's share of production approx 355,000 barrels. "

So since the 10th Sept (2.6 mbo approx) it has produced a further 250,000 barrels in 8 days which gives an average of about 31,000 bopd.

Or from 1st July to 18th Sept represents 80 days production (2.85 mbo) for an average of 35,625 bopd.

Another interesting aspect of the info is the price over recent weeks :

Week ended Average Tapis Price NZ$ Equivalent
12/09/08 US$109.60 NZ$167.64
05/09/08 US$117.08 NZ$175.00
29/08/08 US$123.48 NZ$176.27
22/08/08 US$121.18 NZ$170.99
15/08/08 US$123.38 NZ$174.54
08/08/08 US$129.89 NZ$184.24
01/08/08 US$135.03 NZ$183.71
25/07/08 US$139.87 NZ$186.49
18/07/08 US$151.97 NZ$198.39
11/07/08 US$148.64 NZ$195.83
04/07/08 US$148.60 NZ$195.53

Again the valuable thing there is to see the Tapis price which is above the ordinary US$ price per barrel. And the other thing is that although the chart shows a drop from a high of US151 down to more recent US$109 (difference of US$42) the difference in NZ$ is about NZ$30. NZOG income is expressed in NZ$.