NZ Oil & Gas (NZO)

[the machine]

with 13m traded on Friday then nzo have fallen about 17m shares short of 50%

I guess the shares that were bought higher than 10c after the bid announced is the difference and the punters who bought in anticipation of making a profit may just hand there're shares until a better offer comes along

meanwhile if nzo do not extend the offer or increase it, then any support for the sp is lost

it will be interesting to see what happens now

nzo could do nothing for a year and then make another bid
with the au/nz$ almost parity, nzo have certainly made a well timed play with there're surplus funds

They could sell to SPC for 20c if that's what SPC think the share is worth

M

[fish]

The 5th and latest takeover announcement states that nzo has plans to delist cue from the ASX .They want to save costs for all shareholders.
If this comes to fruition nzo could use cue in all sorts of ways.
If it doesn't it looks as if nzo will still have control over CUE but has to abide by ASX regulations.
I guess it will be like origin control over CEN.
It only takes a suggestion and the sp is hit hard.
Then Zeta can move in and pick up cheap shares

[Corporate]

You've got to give NZO credit for how this takeover has been orchestrated. They've managed to get control very cheaply. Why they want to own CUE is another question.

[fish]

You've got to give NZO credit for how this takeover has been orchestrated. They've managed to get control very cheaply. Why they want to own CUE is another question.

As you say they are cheap but surely for cash,current production and eventually lots of synergies?

[fish]

You've got to give NZO credit for how this takeover has been orchestrated. They've managed to get control very cheaply. Why they want to own CUE is another question.

As you say they are cheap but surely for cash,current production and eventually lots of synergies?

[fish]

Pateke is looking good-43000bpd achieved but of course production rate will be scaled back for long-term production

[ziggy415]

Pateke is looking good-43000bpd achieved but of course production rate will be scaled back for long-term production

cant help but think Pateke might surprise on the upside with regard to size of reserviour...at this stage they seem cagey about "in line with previous estimates"...also read Bukit energy web site with regard to Kisaran wells in indonesia,,,,,,they sound very positive with words like discovery and 100 plus column of oil etc.....still not sure bout indo tho...once nzo gets all drill costs reimbursed by indo govt... the drill partners get 20% of well production and seeing as nzo has only 20 odd % of Kisaran joint venture...whats 20% of 20% worth

[neopoleII]

with only 2.4million bbls estimated in this field it wont take long to empty it.
with a bit of luck it might be 4million bbls
then there is the "double" drill cost ... what with the drilling balls up....
then there is the very low cost of crude today.......
nothing to get excited about.

sad really........ go back 10 years and most shareholders were discussing what colour Ferrari to buy.

[fish]

Talk about seeing a glass 1/2 empty.
Personally I like what I have been seeing recently(apart from what is out of nzo control-the price of oil).

[Joshuatree]

Article in the Australian "NZ Oil % Gas plans corporate revamp of Cue". NZO have 48.11%