For the dilution that occurs, NZ, my abreviation, in this post for NZEC, (along with it's 50% JV partner, L&M Energy) get up to $33M USD to complete the acquisition of the TWN licenses and assets from Origin Energy Resources. NZ had already put forth a $6M dollar deposit in the Acquisition, so their remaining balance, of their JV portion, is around $15M USD.
These assets in the West coast Taranaki Basin, include 100% of Origin's Tariki, Waihapa and Ngaere's licenses and assets, along with the Waihapa Production Station, which can be seen on NZ's recent Presentation, on NZ'a website.
NZ is already doing well in the Taranki Basin. They are making money, millions of dollars, from the sales of the light API oil they sell from the assets they already have there. The Origin package gives them a major boost up in the midstream activties of this fast growing exploration and production company, the New Zealand Energy Corp.
They are now funded through 2013 in the Taranaki basin, and their cash flow from operations should substain them, and fund them for future production in this area. NZ says they will continue to ramp up their midstream activities through 2014 in the Taranaki. It's hopeful that they also focus on decreasing their costs of production.
I'm probably more excited about NZ's 2 million onshore acres over on the East Coast, along with it's 300 oil and gas seeps and it 600 meter oil columns.
They are looking for a JV partner in the Castlepoint asset. It will be very interesting who comes into that space, because of the absolutely massive unconventional oil resources. Several organizations have attributed ( from what I've read ) that the shale oil prospectivity in this area is up to ten times greater than America's Bakken Formations.
Even without even putting a penny into production on the East Coast we could just sit back and watch for results from drilling by Tag Oil. I think they are drilling right now ( not 100% sure of that ). Course, if we did nothing, we'de lose our permits and licences in this area.
Who could not get excited about this ?? Another article I read from a paid third part contractor alleges our share price up to 27 dollars a share down the road after being successful in lifting these recoverable oil barrels.
So, let's look forward to which supermajor or NOC will jump into our space here on the East Coast of New Zealand.
Please, everyone, do your own DD. My opinions are not always right.
It's all about risk versus reward.
Red
Recent NZ News
- MONUMENTAL ENERGY MAKES STRATEGIC INVESTMENT INTO NEW ZEALAND ENERGY CORP. • PR Newswire (Canada) • 12/12/2023 01:00:00 PM
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NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
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Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM