Hey hey hey….
So first production well was completed for production on the 22nd jan...
3 days ago…
I wont comment on markets taking part in the delay of this announcement…
a relaxing time none the less and we clear a path for our future....
I dont give a cook a hoot about the markets, about the real economy...
we are in to making a hiding second to none regardless of what happens from here.... If the World burns in a firey pit of doom, then so be it...
CUE, NZO, AWE, PPP, and a few others will survive...
As always we have a World class project that is spear headed by OMV and the Todds…… this point was always missed read by unsuspecting guests, which was a much lower real risk.... but the market has, and still attaches a much higher level of risk....
So no need to swing a nut sack like my mate George in the jungle…
Hahahhaa…..
Anyway,
We have the first well, MR3P8 on production testing,(without actual flow rates of yet)...
You can see in the HZN attachment the FPSO in the distance, which will store oil until an oil tanker makes a pick up for delivery…
We have the 2nd production well MR4P9, in 2km of oil bearing reserviour (horizontal) completed and with initial production 2nd week of March…
Currently we are on the horizontal section of the 3rd production well MR5P12…
HZN announced an official upgrade of reserves from 50 Million Barrels of oil 2P…
To 61 million Barrels of oil 2P…
A 22% increase…
Great news…
no shock at all… Earth Quake flat lining as far as im concerned…
This is a given based on what we have previously said on this thread…
Tui is a pip sweaker on the fact that 2P reserves are now larger than that field, and only in the Moki formation is accounted for.... we have Manaia, M2A, (17m moveable oil) and Mangahewa (30m oil column) with a gas cap for further testing… Matariki coming in OCT DEC which could add 20 Million barrels of oil to CUE... and we had our recent excitement which turned up chumps....
In terms of oil and gas investment in New Zealand, you will see nothing like this for possibly decades to come in the form of leveraged upside to an oil field in a small oil stock... a large oil field listed in the form of a company on the NZX/ASX... a large surrounding area on ridge providing further upside....
the largest undeveloped oil field in NZ (before this development took place)...
Nothing like this company ever when you look at other stages and other activites... its uncomparable....
Tui has ultimate upside…
So far Maari’s increase on reserves are from natural infield resource (not even based on flow rates), and Sure thing (im telling you again) sure thing Manaia upside….
What I said was Tui’s greater production profile would have Maari offset this through bigger reserves…
so some cancellation...
Our Barrels recieve lower price but we have more of them, flowing at lower volumes, and full production in August (so more time to ramp up to bigger prices)....… we hopefully get a small window at the next leg up, Matariki providing the Big "oh daddy" in the wings....
Quote:
it would have been so nice to have this oil flowing a few months back when oil prices were so high, nevertheless, they will recover with the world economy...eventually. this should be the start of a profitable ride with CUE.
reply....
The World economy wont recover anytime soon mate…
We are sitting on a future cash cow, and a current asset cash cow...… A large stable oil project now in production… recent productions… large real in ground assets… appraisals left right and center…
Exploration blah blah blah… developments growing horns out your ears...
Ear wax putting bees out of business... hahahaha....
and a growth path even at current prices...
Yeah Bermuda is right about BOW...
Man... hes right about alot of things....
this is it in the real form...
no takeovers... no buy outs... no new stakeholders... no company fundamental related market swings, ie industry related activity....
We have no suitors coming to bail us out… There are no White Knights coming to tell us that we have exceptional assets… Tricha said his companies are looking for assets cents in the dollar… His companies cant be looking in the right direction… hahahahha
His companies are secure on fundamentals… This company is building them and securing a future just like his, even at these prices... it will take time though...…
Timing is everything, and my timing was wrong… But will be right !!!…
And I will be laughing straight to the bank on this…
and im sure he will be too....
As Ive said… those who were sceptical of Maari production, will be left wondering….
those who were wondering are now thankful for that as the SP is cheaper... dont let this slip by....
NZO took 6 months to really lift off after Tui… This could take a few months…
we have an ultimate path of low risk production startups from here to really get cash booming, so the 'healthy debt' and cashflow negative can take the back seat as far as im concerned...
Buy CUE...
Medium term and long term Profit outlook on the cards...
If your after a short term mega bagger then you could be looking in the wrong direction...
patience as always...
never seen it better than this as far as im concerned...
might need a cap raise... blah blah blah...
On path to secure a whopper and we aint even at burger king...
yeah harrghhh...
as always ,we lose time we dont lose money...
10c is offensive....
bids at 10c fair considering....
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this is huge. 35000 barrels oil per day., page-5
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