New Zealand Oil and Gas is seeking more oil assets and is prepared to look offshore.

[phantom power]

With a new chief executive and oil revenues beginning to flow, the company has set itself the ambitious target of nearly doubling next year's production of more than 1.1 million equivalent barrels of oil in just four years.

"We're going to have to look at asset and corporate acquisition," says David Salisbury, a 40-year-old Taranaki native raised in the 1970s when Bill Birch's Think Big scheme pumped millions into provincial New Zealand's economy.

Salisbury, six months into the job and having seen subsidiary Pike River Coal successfully floated, says growth will come solely from NZOG's core business exploration, development and production of oil and gas.

Existing sources will peak around 1.3 million of barrels of oil equivalent in 2010, tailing off to just over 1 million in 2012 and 750,000 in 2015.

http://www.stuff.co.nz/4239827a23399.html

[AlecBGreen]

1. let me get this straight

they want to supply 90% of their nations electricty via renewable sources, ostensibily to reduce pollution from fossil fuels, but now they're increasing their sales of oil?

"we dont pollute but we dont give a **** if you want to..."

:wtf: