NZ Oil & Gas (NZO)

[shasta]

From NZO Public Affairs Manager, Chris Roberts:

[Noties references to industry rumours are inaccurate and unhelpful.
When there are any decisions made, NZOG will announce them.

From Shasta:

[I'm sure the PR team at NZO are doing a bang up job getting them in the news, investor presentations, interviews etc...[/quote]

Shasta surely you are being sarcastic!!!!! How many peeps have you seen or heard out of the Public Affairs Manager, Mr Roberts in the past year? Publicity coming directly out of NZO is just about zero. Anything coming out is a minor rehash of some other company's announcement (usually AWE, which is perfectly understandable in some circumstances but not in others).

Notie is right - both NZO and PPP are on the coat tails of AWE and to suggest otherwise (as Mr Roberts has) is nothing but grandstanding in his own self importance. AWE went to Vietnam and then PPP followed. So far NZO, other than taking a stake in PPP and the obscure deal in Romania, hasn't done anything (which may not necessarily be bad if in fact NZO has a strategy). I doubt AWE would have put out a public release on future drilling plans if it hadn't already been agreed by the parties, if in fact the latter have much say at all.

Has Mr Roberts publicised either the PPP or Romanian deals? Shareholders have had to rely pretty much on what other posters on this forum have found out, particularly in regard to the Romanian deal to get a handle on what is going on.

At the next AGM, which I can't attend unfortunately, I hope someone asks exactly what the budget is for the Public Affairs Manager + team (including salaries), what they have done for shareholders over the past 12 months, and what they have planned for the next 12 months. I can't help thinking being the Public Affairs Manager for NZO must be one of the cushiest jobs around. I hope I'm proved wrong and Mr Roberts and his team have in fact been as busy as bees gathering nectar in a desert.

Notie, don't be brushed off - I liked your response. Keep it up for the benefit of other shareholders. Thanks for the postings from many others on this forum too.[/quote]

I wasn't being sarcastic, NZO is a much different beast than what it was a few years ago, even the website highlights the improvement.

You're being a tad harsh in pointing out Chris Roberts, the fact he takes his time to post here is admirable, & i hope he continues to do so.

I wouldn't want NZO announcing every minor little detail to be "seen as busy", NZO are quietly going about business & i'm sure are looking at all opportunities to increase shareholder wealth.

As NZO is a JV partner & NOT the operator, it's common practice that the operator leads the way with news, & the others follow suit, i'm not sure what it is you want from NZO?

What's the rush, we aren't in the middle of an active drilling program, so news is a little light, doesn't mean they aren't busy pursuing opportunities.

Tui is ticking along nicely, we have the follow up drilling soon, Pike is now funded into production, & Kupe is being developed & getting ready for commissioning & production, if that's not enough for you, then there are plenty of high risk offshore wildcat explorers to buy into...

BTW - We shareholders appoint the directors who in turn employ a CEO.

The CEO dictates the people he has around him, & what there remuneration is, that's NOT an issue that should be concerning you!

If NZO didn't have a PR Manager, we'd all be saying they need to do something to raise awareness, ie get a PR person!

[digger]

Those with some history in NZO will remember NZO was the operator of Ngataro.Ngataro was NZO only other producing field.Together with Astro Pacific[now gone belly up] and the crown Ngataro worked very successfully for a number of years until the crown sold out to Graymouth Petroleum. Now other can correct me if my memory is not perfect as the third party may have been someone other than the crown.
My point is that Graymouth Pretroluem was a junior partner that immediately went about acting as if they were in charge by releasing media reports and installing a gas collecting system to stop the flaring off of gas from the field. Naturally this went down well with the greenies and got Graymouth a lot of favourable press.
Graymouth pertroleum broke ever industry established rule wherby a structure is set up between operator and the other joint partners in any field. This was so much so that to this day i have not heard of any other oiler that has since partnered with them.And we know of a company that will not partner ever again in the future.
I am saying all this as i certainly would not want or expect NZO to make releases in advance of the opreator or in contardiction of the operator.We have a future where we want to farm in and be farmed into so going down the aGRAYMONTH TRACK IS NO OPTION.

[notie]

From Shasta:




What's the rush, we aren't in the middle of an active drilling program, so news is a little light, doesn't mean they aren't busy pursuing opportunities.

Tui is ticking along nicely, we have the follow up drilling soon, Pike is now funded into production, & Kupe is being developed & getting ready for commissioning & production, if that's not enough for you, then there are plenty of high risk offshore wildcat explorers to buy into...

BTW - We shareholders appoint the directors who in turn employ a CEO.

The CEO dictates the people he has around him, & what there remuneration is, that's NOT an issue that should be concerning you!

If NZO didn't have a PR Manager, we'd all be saying they need to do something to raise awareness, ie get a PR person!

It looks as if AWE has decided where they want to drill some new wells on Tui and they have broadcast this in their lastest presentation Javascript:openPopUpFull('http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1324&PageName=AWE\\\'s%20Update d%20Investor%20Presentation','AWE\'s%20Updated%20I nvestor%20Presentation') It details what the JV is planning. Why isn't NZOG doing a news release on this? AWE wouldn't be putting out this sort of news if they didn't have some jv agreement.

NZOG need to pick up the game on telling its shareholders its plans. However, it is awe that is doing all the work and driving the Tui JV, not NZOG which appears to be along for the ride.

I want to know what happened to all the opportunities that NZOG were looking at. So far all they have got involved in is a study group in Romania, although details are pretty thin on the ground so far. Given the amount of companies on the ASX that are raising more money, then there should have been something good to get involved in.

[fish]

NZOG need to pick up the game on telling its shareholders its plans. However, it is awe that is doing all the work and driving the Tui JV, not NZOG which appears to be along for the ride.

I want to know what happened to all the opportunities that NZOG were looking at. So far all they have got involved in is a study group in Romania, although details are pretty thin on the ground so far. Given the amount of companies on the ASX that are raising more money, then there should have been something good to get involved in.[/QUOTE]

As you say Awe has updated its investor presentation giving details of its drilling programme . It come as no surprise that it includes Tui NE and SW as these will be easy to tie into existing Tui Facilities.

Timing looks as if it will be very fortuitous again .As I write Tapis is 74.5 and this equals NZ $117 .We could easily be looking at $150 plus when Kupe starts producing plus the smaller pools around Tui would be more commercial .
Patience is a virtue that should be well rewarded when Kupe starts producing and I suspect ways will be found to turn the Tui tap full on when the price of oil merits it .

[digger]

yes they are and they are in for 18%. Remember it is AWE that makes all the running on these permits and NZO is just along for the ride, albeit a potential fruitful or bad outcome.

PEP 38401 with the Hoki prospect is the big upside drill for AWE this season. If that is sucessfully then their price will reflect that. It is a very large structure. NZO isn't in this block, although one of the other companies is looking to lay off a % so NZO might get involved.

The two wells at Tui don't have the potential to add too much in way of resource especially if they are considered on a risked basis, hence the drop in AWE's share value following the release of this report. Folk probably expected they would be drilling more wells there.

The other very interesting permit for AWE is Tuatara (38524) which they have 100%. maybe nzo might get involved in this. This permit was held by Austral Pacific but AWE got it from them cheap after they crashed. There is an offset well with good oil shows which makes the chances of a positive outcome better. rumour is NZO turned down a good deal on this block when it was being shopped around last year. Now will they get back in now?

Notie it is clear why Chris Roberts found this post inaccurate and unhelpful. You and i and every other poster can speculate until the cows come home about what NZO might or might not do but NZO can only deal in established facts.You put forward with great confidence that NZO was foolish not to get into 38401 and 38525,but were you in the board room when these were compared to many other drill or farmin that were on the table.
Several years ago under one of your other alias [Sniper or whatever] AWE was doing another drill that NZO was suppost to have been very foolish not to get into. Nothing more was every heard when that well turned out dry.
Am only posting this now as it is becoming clear that Notie and Taijon seem to be on some sort of blood trail that is not only inaccurate and unhelpful but has an underlieing jealousy at NZO success both now and in the future.

[shasta]

Notie it is clear why Chris Roberts found this post inaccurate and unhelpful. You and i and every other poster can speculate until the cows come home about what NZO might or might not do but NZO can only deal in established facts.You put forward with great confidence that NZO was foolish not to get into 38401 and 38525,but were you in the board room when these were compared to many other drill or farmin that were on the table.
Several years ago under one of your other alias [Sniper or whatever] AWE was doing another drill that NZO was suppost to have been very foolish not to get into. Nothing more was every heard when that well turned out dry.
Am only posting this now as it is becoming clear that Notie and Taijon seem to be on some sort of blood trail that is not only inaccurate and unhelpful but has an underlieing jealousy at NZO success both now and in the future.

Why don't they sell out of NZO & go buy AWE?

Would save grizzling about it

[digger]

Has Mr Roberts publicised either the PPP or Romanian deals? Shareholders have had to rely pretty much on what other posters on this forum have found out, particularly in regard to the Romanian deal to get a handle on what is going on.

At the next AGM, which I can't attend unfortunately, I hope someone asks exactly what the budget is for the Public Affairs Manager + team (including salaries), what they have done for shareholders over the past 12 months, and what they have planned for the next 12 months. I can't help thinking being the Public Affairs Manager for NZO must be one of the cushiest jobs around. I hope I'm proved wrong and Mr Roberts and his team have in fact been as busy as bees gathering nectar in a desert.

Taijon in your eagerness to criticise Chris Roberts you screwd up the facts.Firstly Mr Roberts is not part of PPP and therefor would not be publicising any facts regarding that AUS based company.The Romanian deal is in the quarterly.Yes i two would like more info on this one but it is a very conditional arrangment that is not yet completed.
You say you will not be at the AGM.Firstly you have to have shares in the company to attend.Do you have any?? Secondly NZOG has had a number of alias over the years that misinform and speculate and never face up at the AGM.
I do not think NZOG or Chris Roberts need any defence for me but i will nevertheless for other poster set out some facts. When Mr Roberts joined NZO had only one analysts now there are nine. That must have been a lot of behind the scene work.The website is also regualy updated and improved. Backing up this point go onto directbroking graphs and compare supergraph where NZO is against NZX50. From that i have to say about Chris Roberts cushy job that thank god he is on a salary and not proformance based.
There is another underlieing point you are twisting. NZO does not get into the media and on TV much when it on preformance clearly should. This has nothing to do with anyone in the company but newzealanders and the way they think. We are just not resource based thinkers so the media ignores us.Even a few years ago when NZO was the year top preformer it was listed then the reporter when on to talk about the warehouse.
I would hope that you and Notie can be more balanced in your comments in the future.Now in using the word BALANCED have i triped over one of your other alias

[corporateraider]

Quote: Noties references to industry rumours are inaccurate and unhelpful.

Notie, it seems that you might need some help on this one.

I read your original piece where you referred to an industry rumour.

The ill fashioned response of a person who supposedly uses words for a living is surprising. (Maybe the poster that suggested that Mr Roberts simply rearranges the utterances of AWE was correct, because this strange collection of words does no credit to anyone.)

First Notie's rumour has become rumours.

Second, we can only assume that Mr Roberts was trying to say that the rumour(s) was (were) inaccurate. How could My Roberts possibly tell whether the references to the rumours was accurate or not, because he could not possibly know the rumour that was in the mind of Notie at the time.

And lastly how can a rumour be unhelpful? Something is only damaging if the person hearing it attaches some validity to it. For example, if I were to say that Richard Worth was sacked because the PM fancied his chances with the woman concerned, this only become damaging if the listener attaches some credibility to the statement. They are likely to do this if they attach some credibility to the source, and/ or to the nature of the statement. Furthermore the statement will only become unhelpful if it is viewed as such by someone who seeks to rely on it. We can assume that they would apply a far more vigorous examination of its validity.

This site is a mixture of rumour, opinion and fact. I suggest that this site, judging by the huge number of hits, has done a huge amount to raise the profile of NZOG.

I welcome the contribution of Notie and hope that he and others continue to post what they think is of value. It is up to the reader to judge the merit of their posts. Some will obviously apply a greater degree of intelligence in doing that than others.

[Mingeathinaikos]

NZOG need to pick up the game on telling its shareholders its plans. However, it is awe that is doing all the work and driving the Tui JV, not NZOG which appears to be along for the ride.

I want to know what happened to all the opportunities that NZOG were looking at. So far all they have got involved in is a study group in Romania, although details are pretty thin on the ground so far. Given the amount of companies on the ASX that are raising more money, then there should have been something good to get involved in.

Not too much PR fish...Sinopec is on the warpath at the mo, and we don't want them to notice us down here. Could see some buying pressure over this week i reckon.

[Nitaa]

Quote: Noties references to industry rumours are inaccurate and unhelpful.

Notie, it seems that you might need some help on this one.

I read your original piece where you referred to an industry rumour.

The ill fashioned response of a person who supposedly uses words for a living is surprising. (Maybe the poster that suggested that Mr Roberts simply rearranges the utterances of AWE was correct, because this strange collection of words does no credit to anyone.)

First Notie's rumour has become rumours.

Second, we can only assume that Mr Roberts was trying to say that the rumour(s) was (were) inaccurate. How could My Roberts possibly tell whether the references to the rumours was accurate or not, because he could not possibly know the rumour that was in the mind of Notie at the time.

And lastly how can a rumour be unhelpful? Something is only damaging if the person hearing it attaches some validity to it. For example, if I were to say that Richard Worth was sacked because the PM fancied his chances with the woman concerned, this only become damaging if the listener attaches some credibility to the statement. They are likely to do this if they attach some credibility to the source, and/ or to the nature of the statement. Furthermore the statement will only become unhelpful if it is viewed as such by someone who seeks to rely on it. We can assume that they would apply a far more vigorous examination of its validity.

This site is a mixture of rumour, opinion and fact. I suggest that this site, judging by the huge number of hits, has done a huge amount to raise the profile of NZOG.

I welcome the contribution of Notie and hope that he and others continue to post what they think is of value. It is up to the reader to judge the merit of their posts. Some will obviously apply a greater degree of intelligence in doing that than others.

Rumours can be dangerous as it may unfairly influence a posters view and in a worse case scenario sabotage a company's credibility etc. So i think if people are going to speculate or hear rumours then it would be professional to explain their reasoning.

I therefore am cautious when i see posters that condone rumours. Most of us generally know the difference but often we are all guilty of being sucked in by someone else saying something when there is no merit to it.

ps. I myself mentioned a while ago that Kupe would happen in the 4th quarter and not the third. My posting was through a reliable source in the industry. I am therefore going by hearsay and for that i personally think its ok. Reason being i gave some reference to my knowledge. Remember though that even if my comment was true it doesnt mean that nzo can disclose the information since they are bound by the operator to a large degree.

Hard to explain this one as it may sound contradictory but i think one must look at what there intent is. Food for thought anyone?