NZ Oil & Gas (NZO)

[fabs]

Well as usual the rampers will come out of the woodwork.
On paper and depending on ones limitless imagination, one can unreservedly aggre this MAY BE a marvelous developement.
However like in previous similar occasions Hochstetter, Pike River sanity returns usualy very quick, nothing wrong with the Drill & thrill that we all are presumably in this Co for of course.
Fish to his credit is not far off with his take on his TIME LINE, coinsidering a few realety checks like Availabilety of Drilling Rig supposed to be drilling this year, wich NZOG btw.rates success at 10-20% idealy if nzo retains about 20% == drilling cost would be 30 -40 mil. [est. some years ago total 120 mil.+ } not big considering what they been sitting on at the moment for some years. Deffenitely WELCOME ACTION promised over a long time now. Good thing here is that the they can drill through the 3 Sections in one go.
If the find should be as big as claimed, developing costs could be billions.
Facture in a more than 50/50 chance of a Green led Labour govt. in for 1-2 terms with no J. Key arround, so give your Imagination free range on any time line.
Btw. Should NZOs share be indeed 250 odd barels the mil. of $ profit would take quite some time, but yes POO could of course subst.rise over such a period as an added bonus.
Some investers may very well have been aware of Yesterdays Details well bevore the voting on Kupe & Tui. There is a word for this wich at moment slipped my mind [ grin ]

[fish]

[QUOTE=fabs;656325]Well as usual the rampers will come out of the woodwork.
On paper and depending on ones limitless imagination, one can unreservedly aggre this MAY BE a marvelous developement.


Not intending to ramp-current sp is irrelevant to me as I sold most of my shareholding in the 55 cent offer and what a mistake that has turned out to be!
Just wanted to hear others thoughts.
Thanks for yours and others.
Yes this is still early stages and could be years -at least 3 and probably more before production but drill hopefully next summer-but will be within 3 years as per permit extension terms.
A successful drill would really push the sp.

[Vaygor1]

Well as usual the rampers will come out of the woodwork.
On paper and depending on ones limitless imagination, one can unreservedly aggre this MAY BE a marvelous developement.
However like in previous similar occasions Hochstetter, Pike River sanity returns usualy very quick, nothing wrong with the Drill & thrill that we all are presumably in this Co for of course.
Fish to his credit is not far off with his take on his TIME LINE, coinsidering a few realety checks like Availabilety of Drilling Rig supposed to be drilling this year, wich NZOG btw.rates success at 10-20% idealy if nzo retains about 20% == drilling cost would be 30 -40 mil. [est. some years ago total 120 mil.+ } not big considering what they been sitting on at the moment for some years. Deffenitely WELCOME ACTION promised over a long time now. Good thing here is that the they can drill through the 3 Sections in one go.
If the find should be as big as claimed, developing costs could be billions.
Facture in a more than 50/50 chance of a Green led Labour govt. in for 1-2 terms with no J. Key arround, so give your Imagination free range on any time line.
Btw. Should NZOs share be indeed 250 odd barels the mil. of $ profit would take quite some time, but yes POO could of course subst.rise over such a period as an added bonus.
Some investers may very well have been aware of Yesterdays Details well bevore the voting on Kupe & Tui. There is a word for this wich at moment slipped my mind [ grin ]

I sincerely trust you are not including me in your term 'rampers' fabs.
And I further trust you are not insinuating I had inside knowledge, especially given my posted web-links forming the basis of my prediction.

If so, in both cases you or anyone else would be very wrong. There is a word for these kind of people which does not escape my mind.

All the articles and announcements linked to were issued to the public starting from about 4 years ago.

[fish]

No one should be using the terms 'knockers', 'rampers' or similar as it can lead to the term 'banned'.

Thank you STMOD
To be falsely accused is generally upsetting but I do value all opinions and am glad you havnt banned.
Spelling was atrocious as well

[macduffy]

Spelling was atrocious as well

I hope they're not slouching - as well.

(Apologies to Enid Blyton, I think?)

[fabs]

VYGOR1
Re; 'rampers','insiders' & 'knockers' { the none gender specific }
1/ Yes a generalization, the only ones possibly taking umbrage would the ones it applies to.
2/ Well had only entities of the top 20 S/Hs in mind, so if you are in that category but if innocent of my 'insinuations'.
Accept My unreserved apologies please.
3/Don't know where to go with that.
Would have actually been happier if someone responded positive /negative to the points raised in that missive.
CHEERS

[Marilyn Munroe]

For a perspective on the time challenges and costs of establishing an offshore LNG production go onto YouTube and do a search using the terms 'shell' and 'prelude'.

Boop boop de do
Marilyn

[blackcap]

Hope they have not forgotten to put out their half year report. Running out of time.....

(I note last year it was also on the last day in Feb, but it was at 9AM.)

[Sideshow Bob]

Not forgotten BC, but just not much to get excited about........

New Zealand Oil & Gas Half Year Result

8:30am, 1 Mar 2017 | HALFYR

The last eight months have been a time of transformation for New Zealand Oil & Gas as the Company successfully sold its two major producing assets.
Half-year accounts released today do not include the profit on the sale of the company’s interest in the Kupe gas field, which was sold for $168 million, nor the disposal of its interest in the Tui oil field.
Both transactions were completed with an effective date of 1 January 2017 and therefore the full-year financials will give a more appropriate picture of the 2016-17 financial position. In particular, net tangible assets will materially change.
Corporate costs are now considerably reduced. Overheads in the six months to 31 December were down by $2 million compared to the previous year, despite the inclusion of one-off costs for restructuring at Cue and $0.5 million in costs from the sale of Kupe. Exploration expenses in the six months were $4.0 million, down from $9.4 million in the previous year. Capital spending on oil and gas assets was $3.0 million, down from $7.7 million.
New Zealand Oil & Gas recorded a cash surplus from operations of $13.2 million in the six months to 31 December 2016.
Chairman Rodger Finlay says cash flows received by New Zealand Oil & Gas were strong during the past six months.
“In the twelve months to 24 February 2017, as New Zealand Oil & Gas realised value from its assets and focused on reducing its overheads, its share price increased by 49.43 per cent. This was one of the best share price performances last year among NZX companies with a market capitalisation in excess of $150 million.
“In addition, shareholders received a fully imputed 4 cents per share dividend in October.”
A net loss of $25.4 million in the six months to 31 December 2016 was principally due to Cue's impairment of its Maari asset ($7.7m); a loss of $2 million on Cue's sale of its loss-making Pine Mills field in the United States; lower receipts from the Tui field due to production decline; production outages at Kupe and Maari; and $9.5 million associated with de-recognition of deferred tax assets related to Tui and Kupe.
Chief executive Andrew Jefferies says New Zealand Oil & Gas is entering a new stage of its life following the sale of its two major assets.
"We achieved incremental value for our legacy assets and now have a lower cost structure in the business including a reduced executive team and lower corporate rental overhead.
“Progress will be more obvious in our full year accounts, which will include the impact of returning $100 million of capital to shareholders in May.
“Growth will be achieved by deploying our remaining cash to acquire quality assets at a scale, risk-profile and price that suit our size.
“In addition, in New Zealand, we are participating in two potentially transformational deepwater prospects off the South Island, including the Barque prospect that we estimate could hold 11 trillion cubic feet of gas and 1.5 billion barrels of oil or gas condensate liquid (best estimate, unrisked, in place across three horizons). This prospect alone could transform the national economy if it is successfully drilled with partners to help share drilling costs," Andrew Jefferies said.

[t.rexjr]

New Zealand Oil & Gas is now seeking initial orders from the High Court
to implement the scheme. The scheme of arrangement will involve cancelling one
out of every two ordinary shares for a payment of NZ$0.62724388 per
cancelled share. Part-paid shares that have been issued as part of the
company's Employee Share Ownership Plan will not participate in the return of
capital."

By my crude accounting there's at least that value in the company in cash. Whats the general outcome for share price when this sort of thing happens? Seems to me there is no value placed on current assets... FYI am a newbee so may not have a clue what I'm talking about...