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Vessels and equipment converge on Taranaki for Maari
Neil Ritchie, New Zealand
Wednesday, 13 February 2008

THE specialist dive support-installation vessel Toisa Proteus has arrived at New Plymouth to help with the installation of the platform and the floating production, storage and offtake vessel Raroa for the $US457 million ($A520 million) Maari oil project off Taranaki, New Zealand.

AND - Similar article here

Toisa Proteus arrives in NZ for Maari job
Filed from Singapore
2/13/2008 4:53:22 AM GMT

http://www.energycurrent.com/index.php?id=2&storyid=8812

JW
 



Hi folks,

CUE ..... updating time cycles, ahead:

14-22022008 ... underlying negative cycle

25022008 ... positive spotlight on CUE ...

26022008 ... minor and positive (intraday)

17-20032008 ... 3 positive time cycles should bring
some significant and positive news.

26032008 ... minor cycle here

happy days

paul



=====
 
Worthwhile having a read, more importantly it states that 'First Maari oil is now expected in the third quarter of 2008, with full production in early 2009'.

If this is the case it will not be long before they begin to prepare to drill.

Maari oil field may have additional 37 million barrels, Horizon says
http://www.crownminerals.govt.nz/cm...ve-additional-37-million-barrels-horizon-says


This week should be interesting, fingers crossed for some extra volume and push up towards 0.25.

Looking good!!!

JW
 
Here's an activity schedule for Maari - refer to attachment

This is from Horizon Oils November 2007 Investor Presentation.

There is some other information in the document on Maari that you may be interested in but be warned its almost 10MB in size.

You can find it here, Oil Megaprojects/2008 - download from hyperlink at item no. 62
http://en.wikipedia.org/wiki/Oil_Megaprojects/2008#_note-45

JW
 

Attachments

  • Maari Activity Schedule.pdf
    33.7 KB · Views: 7
Ms Wabbit,

Still enjoying your posts. Thanks for the constant flow of information.

I think the frog has been a bit unkind to you, as I consider ramping more a style associated with half truths and promises of untold wealth.

Your style is more facts figures with youthful exuberance.

Thanks,

Jigalong.
 
No worries Jigalong,

Thanks, i shall continue to drop in any furher info i come across.

I'm determined to show the Frogster that Cue can and will return a hansome profit for me.

Currently watching the fast moving average on the weekly and it looks like it will cross the slower average sometime in March. So, my gut feel is that there is going to most definately be a trading opportunity before the results of Cobra 1 are due. If i go with a trade i will be trying to make it as late as possible before the announcement.

Time will tell, but most importantly i am really enjoying my time in the markets. Check the trading action during work on my PC and read as much as i can.

Anyways, i am planning on Frogs legs on toast, French style, some time in the not too distant future.

Until then i'll be watching closely and pondering and planning my next move.

JW
 
Great to see CUE turn in a small profit ($5m odd ) this morning! And cash position has been maintained.

Would this be the first?

 
oldblue,
I notice that you are in NMS as well. We must think alike . I am down on them though - I originally bought the options at 0.65 and during the recent slump , bought more at 0.44 . I have a fair lump of them now and was very nervous up until a couple of days ago .
Cheers,
Jigalong.
 
Singapore Petroleum Company (SPC) Increases holding to from 12.83 % to14.06%.

Call me crazy but i still think this company is the goods!!

Sooner or later the slow accumulation tactics of SPC will get noticed by the wider market, the only question i see that is unanswered is what % holding will wake them up?

Maybe when they get to 20% there will be more interest?

Anyways, volume has picked up significantly the past two days and the price has slowly risen with the volume.

With oil at $107.00 our production at Oyong and future production at Maari are going to provide us with a nice return.

I am still looking for that trade as Cobra 1 drilling continues, this spike in oil prices and increased volume could be just what the doctor ordered.

Still a very happy bunny!!!

JW
 



Hi folks,

CUE ..... has been building a huge cup and handle pattern, since
the highs in early-2006. So, with 3 positive cycles coming into play
this week (see post above), we may get the trigger for a rally .....

Updated CUE chart, attached.

Many thanks.

have a great week

paul



=====
 


Hi folks,

Updated CUE chart, below and 3 positive time cycles due to
come into play, this week .....

happy days

paul



=====

 

Attachments

  • CUEupdate14032008.pdf
    65.9 KB · Views: 17
15 Febuary 2008 - old news but..................

Maari oil field may have additional 37 million barrels, Horizon says

http://www.crownminerals.govt.nz/cm...e-additional-37-million-barrels-horizon-says/

Most interesting part of this article is this

In its December quarter report Horizon says the Maari oil project is now 61% complete with engineering and construction almost complete and the installation and development drilling phases to begin mid-year.

The wellhead platform is forecast to sail away from the Lumut shipyard in Malaysia aboard the heavy lift vessel Blue Marlin in March 2008.

The FPSO vessel Raroa which will be permanently moored at Maari is nearing completion at a Singapore shipyard.

First Maari oil is now expected in the third quarter of 2008, with full production in early 2009.

JW
 
"Another worth a read.................Cue gets a mention"

Ms Wabbit ,
More good stuff .
Thanks,
Jigalong.

PS

It seems that there is only the two of us , who are absolute CUEbists.......and you're probably the only wabbit . What's wrong with everyone ? Are they blind ? Maybe we are just smarter than the rest !
 
Not sure about being "smarter than the rest" but happy to be included among the CUEbists.



You'll hear from me when I have something worth saying!

 
Hey Jigalong, yep still confident!!

As i said in my first post in ASF - I bought it with the plan to hold until Maari is producing, unless a trading opportunity comes along that is just too good to refuse. Once Maari is operational i will reassess the situation but i am likely to take most profits, will have to wait and see.

I have the patience and will be here until the oil begins to pump out of the ground at $100.00 a barrell reardless of what ever other international market meltdowns are occuring, long term investing for me.

Not sure why it is not getting more attention, mot likely just the negative general market sentiment that is about at the moment?
Its held its ground well through the turmoil and i think thats shows that it is a quality little oiler. Compare its performance to many other over the last few months and we are doing well with plenty more left in the tank..............

I am looking forward to Xmas this year, bring it on!!!!!


JW
 
Ms Wabbit , " Not sure why it is not getting more attention "

I guess it just it's projects , or it's slices of those projects , are not large enough to attract the big players .

Cheers ,

Jigalong .
 
Paul ,
Have we missed out on those positive time cycles ? What is your latest prediction ?
Jigalong .

Trader Paul said:


Hi folks,

Updated CUE chart, below and 3 positive time cycles due to
come into play, this week .....

happy days

paul



=====

Click to expand...
 
One step closer, waskily wabbits, can't wait until the oil is flowing. $100.00 oil seems like its here to stay.................yee heeeeee!!

Maari platform lands in New Zealand - http://www.upstreamonline.com/live/article152274.ece

By Upstream staff


The wellhead platform for OMV New Zealand’s Maari project arrived in New Zealand waters today and is on track to start up in the third quarter, which would make OMV the biggest producer of oil and natural gas liquids in the country.

The 11,000-tonne self-elevating wellhead platform arrived onboard the world’s largest heavy transport vessel, Dockwise’s Blue Marlin, from fabricator Kencana Petroleum of Malaysia.

The platform will be unloaded in the calm waters of Admiralty Bay over the next few days, before being towed to the Maari field, some 80 kilometres off the coast of south Taranaki in waters more than 100 metres deep. Upon arrival at the field, the structure will self-install.

OMV New Zealand’s managing director Steve Hounsell said the trip to Taranaki, and subsequent installation of the platform, was weather dependent and not without technical challenges, reported New Zealand news website Stuff.

The platform will be connected to a leased floating production, storage and offloading vessel called Raroa that is expected to arrive towards the end of the month from Singapore’s Jurong Shipyard.

The FPSO is a converted tanker being supplied by Singapore’s Tanker Pacific Offshore Terminals.

Once the platform is installed, the jack-up drilling rig Ensco 107 will be positioned above it to drill eight development wells.

The Maari oilfield has estimated reserves of about 50 million barrels of oil and a life of between 10 and 15 years.

OMV said first production from Maari was expected in the third quarter, with its daily plateau production rate to be around 35,000 barrels.

Once production started, OMV would be the biggest producer of oil and natural gas liquids in the country, Stuff reported the company saying.

Maari is owned by a joint venture comprising OMV with 69%, Todd Maari with 16%, Horizon Oil International with 10% and Cue Taranaki with 5%.

JW
 
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