NZ Oil and Gas says Tui reserves increased
WELLINGTON, June 20 |
WELLINGTON, June 20 (Reuters) - New Zealand Oil and Gas Ltd NZO.NZ said on Friday the estimated reserves of the Tui oil field had been increased to 50.1 million barrels from 47 million barrels.
NZOG said based on current prices, its 12.5 percent share of the increased size of the field would be about NZ$70 million ($53.4 million).
Shares in NZ Oil and Gas Ltd closed on Thursday at NZ$1.56. So far this year the stock has gained 36 percent, against a 17.3 percent fall for the benchmark NZX-50 index .NZ50. (NZ$1=$1.31)
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