Hi Sentia717, that's a fair call. One thing that interested me in the NZO presentation is the graph showing drop off in Tui oil production next year - NZO share about 0.75mmbls compared to 1.6 this year. NZO's 2009 forecast is the same as in their Feb 08 presentation, so its not news, but given Tui's performance so far I'd hope NZO's 09 forecast is cautious and probably upgraded in time. An old (Sept 06) NZO presentation forecast 0.8mmbls in 2009, ie before the large reserves upgrade (which may increase further) and excellent production performance to date, so I'm hopeful for at least 0.8mmbls (NZO share) in 09 and perhaps closer to 1 mmbls. Time will tell...
What does it mean for PPP? I can't add anything more than 10/12.5 of whatever NZOs production will end up being, a nice sum anyway - more than enough for a good CE and some exploration, lol.
PPP Price at posting:
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