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12-06-2009, 02:18 PM
#7901
i met a leading engineer working on the site a few months back on a buisness matter and he offered my friend a job on the spot....... they have/had massive skilled labour shortages.
my friend turned it down for family reasons.
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12-06-2009, 03:25 PM
#7902
Originally Posted by digger
Fish ,starting in 1984 i was a trader but after 11 years gradually moved over to buy and hold. I discovered i was not smart enough to beat the market and good growth stocks that you hold for eventual dividends was the way to go.Note that while i discovered i was not smart enough to beat the market,i was smart enought to discover that.Many poster have yet to come to grips with that fact
Since 1962 all my yearly accounts are done through an accountant so records are always available. Your comments re a GST non payment that was paid says you did not have an accountant to supply this info. Over the years i have run into similiar problems but the accountant always sorts it out.Since 1997 virtually never sell shares and will live very well on future dividends,all which will show on the books.
The entire tax system needs looking at and has for many years.The non taxing of capital gains on land or building held for less than three [or 5 ] years is a killer to the working weekly tax payer.The taxing of young cattle reared on a farm and not yet sold is another killer compared to a quick turn over of property where all profits are pocketed.In Aus oil and gas has to have a tax provision if the reserve is increased,as i understand it so you can be sure the reserve is not increased until necessary.Another stupid tax law. The system is outdated and needs to be seen to be more fair on all types of income. AMEN
Wise words digger . Our manager submits gst returns and problems do occur but get sorted pretty quickly-it just seemed stupid that the ird wouldnt believe the manager and couldnt trace the payment .
You should be living well your ppp dividend plus nzo 10cents last year and ? what this year
cheers
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12-06-2009, 03:32 PM
#7903
Originally Posted by COLIN
I am surprised that anyone is worried about being suddenly classed as a share trader by the IRD in respect of the year ended 31/3/09! Would you not welcome the opportunity to offset the year's losses against other taxable income? Maybe there are some rare individuals out there who actually made capital gains in their portfolio but they would be very rare indeed. I certainly didn't. But, of course, if you tell the IRD you want them to commence classing you as a share trader for the year just past, you will then be faced with an ongoing interest in your trading activities for the future - they could prove hard to get out of your hair.
Just a point by the way, that some may not be fully aware of: Any gains on sales/maturity of bonds, etc., (as opposed to equities) are taxable in the year of disposal/maturity, irrespective of whether they were bought with the intention of making a profit or not. They are classed as "financial arrangements".
Taxation discussions, of course, should take place in the appropriate forum.
Its not last year I am worried so much about . If I was taxed on the likely capital gain on nzo this coming financial year I would be very worried .
Hence I am not going to trade again this year and hope for a good dividend
price oil is rising faster than any analyst predicted -abn ambro craig might have to revise their valuation of nzo above the $1.95 recently made plus 12 cents dividend (well i would be very happy with that !)
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12-06-2009, 03:39 PM
#7904
Pike River Coal shareholders are being asked to give the green light to New Zealand Oil & Gas increasing its stake to a top of 35 per cent by exercising share options.
The options were part of the recent rights issue that raised $41 million for the West Coast coal mining company.
NZOG, a small oil and gas explorer, was an underwriter of the rights issue. It was part of the underwriting deal that Pike seeks the approval of shareholders for NZOG to exercise 2011 share options which would increase its stake in Pike.
NZOG, an original owner of Pike River, now holds 29.59 per cent of the company, which is developing an underground coalmine 46 kilometres north-east of Greymouth in the Paparoa Range. Under the Takeovers Code, a company may not raise its holding above 20 per cent without making a takeover offer to shareholders unless shareholders approve the increase without a takeover bid.
A meeting of shareholders to vote on the issue is being held in Wellington in two weeks.
Time is a great teacher, but unfortunately it kills all its pupils
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12-06-2009, 06:37 PM
#7905
now that would be money well spent
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12-06-2009, 08:01 PM
#7906
Member
Originally Posted by boysy
Pike River Coal shareholders are being asked to give the green light to New Zealand Oil & Gas increasing its stake to a top of 35 per cent by exercising share options.
The options were part of the recent rights issue that raised $41 million for the West Coast coal mining company.
NZOG, a small oil and gas explorer, was an underwriter of the rights issue. It was part of the underwriting deal that Pike seeks the approval of shareholders for NZOG to exercise 2011 share options which would increase its stake in Pike.
NZOG, an original owner of Pike River, now holds 29.59 per cent of the company, which is developing an underground coalmine 46 kilometres north-east of Greymouth in the Paparoa Range. Under the Takeovers Code, a company may not raise its holding above 20 per cent without making a takeover offer to shareholders unless shareholders approve the increase without a takeover bid.
A meeting of shareholders to vote on the issue is being held in Wellington in two weeks.
i suppose in world text nzo is "a small oil and gas explorer"so i hope in this reporters next story on someone like fpa they use the phrase "minute applaince manufacturer"!!in nz terms nzo is up there but continue with no real positive mainstream press unless its bad
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12-06-2009, 09:22 PM
#7907
Originally Posted by friedegg
i suppose in world text nzo is "a small oil and gas explorer"so i hope in this reporters next story on someone like fpa they use the phrase "minute applaince manufacturer"!!in nz terms nzo is up there but continue with no real positive mainstream press unless its bad
Interesting that in little ol NZ, a $500m market cap is considered small?
Some journalist should really be looking for a new career...:o
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12-06-2009, 09:42 PM
#7908
Originally Posted by fish
price oil is rising faster than any analyst predicted -abn ambro craig might have to revise their valuation of nzo above the $1.95 recently made plus 12 cents dividend (well i would be very happy with that !)
The market sure is an ass. Its quite ludicrous that the closing NZO share price tonight is no higher than it was at the end of last month, and yet the price of crude continues its inexorable rise (there is a slight contraction tonight but it is a mere blip). The weaker US dollar does not appear to account for the full extent of this divergence, and the Australian oil producers seem to have generally moved up meanwhile, more in line with the strengthening of their dollar, although Woodside doesn't seem to be making the headway I would have expected.
Surely NZO investors are not being spooked by the negligible delay in Kupe coming onstream - the delay is insignificant in relation to the expected life of the field.
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12-06-2009, 10:39 PM
#7909
Originally Posted by COLIN
The market sure is an ass. Its quite ludicrous that the closing NZO share price tonight is no higher than it was at the end of last month, and yet the price of crude continues its inexorable rise (there is a slight contraction tonight but it is a mere blip). The weaker US dollar does not appear to account for the full extent of this divergence, and the Australian oil producers seem to have generally moved up meanwhile, more in line with the strengthening of their dollar, although Woodside doesn't seem to be making the headway I would have expected.
Surely NZO investors are not being spooked by the negligible delay in Kupe coming onstream - the delay is insignificant in relation to the expected life of the field.
Well that is the irrational market force at work, it reacts to certainties, & a delay in KUPE whilst disappointing, is par for the course in the O&G game.
As NZO trades mostly on the NZX (with smaller volume on the ASX), the lack of any real energy analysts in the NZ market highlights the fact that negative news will be reacted too, & the positives get largely ignored.
I'm sure the PR team at NZO are doing a bang up job getting them in the news, investor presentations, interviews etc...
We have the Tui tie in drills to look forward to, & even PRC is showing some strength...
We gotta remember just how far we have come, 2 years ago NOG had 3 projects all in development stage & by the end of the year we will have all 3 projects up & running!
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13-06-2009, 04:10 PM
#7910
Member
Don't be put off Notie - give us more
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.[/QUOTE]
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.
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