New Zealand Energy Corp (NZ)

[futrcash]

some delays here but bottom line is we continue to drill successful wells.

I have to agree with your statement,however,I have to admit,I took their guidance with a grain of salt all along as it seemed unrealistically optimistic especially in regards to production.

Having said that,I still remain hopeful that guidance might just be a quarter off.

Also regarding the closing of the acquisition of the Origin Oil Assetts,the delay there is not surprising either as the conditions which need be satisfied prior to closing require not only regulatory approval,but also the recomissioning of a gas processing plant which is no small accomplishment especially considering that it requires the concerted cooperation of several third party gas producers.

I still remain optimistic that we'll get there,but I'm not exactly thrilled with managements prior guidance.Hopefully they've learned something from releasing unrealistic timelines.

futr