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post Posted: Feb 19 2009, 01:37 PM
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In Reply To: gulf's post @ Feb 19 2009, 01:24 PM

I hope you're right and they don't blow the $s on some dodgy cash strapped oiler!

post Posted: Feb 19 2009, 01:24 PM
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In Reply To: ridgey's post @ Feb 19 2009, 12:53 PM

I think the shareholders are in great shape for the future and we have a bunch of directors who want to make money.

post Posted: Feb 19 2009, 12:53 PM
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So where's the return? This is becoming a cash box with no reward for shareholders.
post Posted: Feb 3 2009, 10:00 AM
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post Posted: Mar 24 2008, 11:13 AM
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PPP currently own 10% of the Tui oil field. This field is currently producing just under 50,000 barrels per day. Over a year this equates to 18m bpd. If we allow time for breakdowns or maintenance then production should realisticall be say 15mbpd pa.
PPP's share would be 1.5m barrels at US$100 per barrel giving annual income of US150m or NZ$187m. With 600m shares on issue this is approx 30c per share. Obviously production costs borrowing costs and overheads need to be deducted but with the oil price sitting at about US40 when the decision was made to commence production the profit margin at US$100 must be good.

post Posted: Feb 13 2008, 11:38 AM
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PPP has 10% of the gas/oil discoveries of Corvus & Maitland

The major partner is Apache with a Fourth-quarter net income

of over US$1 billion

According to Apache

First production from the Reindeer/Caribou field is targeted for late 2008 or early 2009. ( Adjacent to Corvus)

It has been said the Reindeer/Caribou field needed to be up
And running to make the Corvus discovery economic

Not a bad partner for PPP to have in Corvus & Maitland

they will help PPP to spend some of their cash to good advantage
for PPP shareholders

Apache is very active in this area of Australia

Corvus area map


Commander C
post Posted: Feb 11 2008, 07:00 PM
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Hi Andyjf

Doesn't TAP have $100M cash itself? Tactically, I think from reading between lines of company announcements that TAP has retreated from Taranaki (and mentally from NZ) - probably concentrating on Philippines and Borneo and deep Carnarvon basin prospects.

If I were the new AWE MD, and was being pushed by the market to grow the company, buying PPP (or NZOG) would be a "safe" bet as I know the Tui field, and I would get some upside from Maitland.

One reason AWE might decide to give PPP/NZO or ARQ a miss, would be that AED looks more promising (but involves more $$$ to fund Puffin).

Perhaps AWE cash for Puffin and AWE scrip for ARQ/PPP/NZO?



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