NZ Oil & Gas (NZO)

[fish]

i posted a few weeks ago about borrowing most of future ( sp)expectation built in ---yes IF THERE IS A MAJOR GENERAL GLOBAL stock mkt down turn NOG WILL SUFFER -------even though they are the best income @ bank balance wise stock in nz at present-- :rolleyes:

-malcolm and Flintstone -you are both making false assumptions
I am not going to reiterate what has already been said but the upside is so much more than the downside that this makes nzo the most promising stock I know .
Personally I have bought very large amounts options and will be converting them all and holding on to them .I am using margin trading and have mortgaged property-not my residential house so I can cope with any drop in sp for whatever reason .I estimate the risk of downside to be small -maybe 10% or so . The upside is enormous.

This is the financial opportunity of a lifetime and I want to be fully exposed to it . Apart from a few contact and trustpower-and a few residual telecom and cue I have sold most of my other stocks to get this exposure . Those stocks were going oneway only .

[BigBob]

-malcolm and Flintstone -you are both making false assumptions
I am not going to reiterate what has already been said but the upside is so much more than the downside that this makes nzo the most promising stock I know .
Personally I have bought very large amounts options and will be converting them all and holding on to them .I am using margin trading and have mortgaged property-not my residential house so I can cope with any drop in sp for whatever reason .I estimate the risk of downside to be small -maybe 10% or so . The upside is enormous.
.

I agree with you in the long term, but there's a real danger that with the significant amount of leverage that is (apparently) being poured towards the conversion one or more big players may "see the price down" in the short term.... shouldn't be too hard to squeeze a few small leveraged players out via margin calls... also don't forget that NZO is still a one horse show - imagine what a fire at TUI or any other kind of disruption to production would do to the share price in the short term...

That said, I hold loads myself for the long term, but I'm not leveraged.....

[fish]

[QUOTE=BigBob;207791]I agree with you in the long term, but there's a real danger that with the significant amount of leverage that is (apparently) being poured towards the conversion one or more big players may "see the price down" in the short term.... shouldn't be too hard to squeeze a few small leveraged players out via margin calls...

I would imagine that once the options are out of the way it would be extremely difficult and costly to force the price down]-too many people have studied warren buffet-and would buy on weakness .

Before asb accepted my margin lending application-I was subject to a very long enlightening discussion-they wanted to make sure i knew about margin calls and had a strategy to deal with it .They valued nzo at 150 and were prepared to advance me 1/2
I have two-one is an orbit mortgage and the other are the stocks i havnt sold.

Hence if someone started selling off nzo for no fundamental reason all I need to do is draw on the orbit mortgage or sell stocks other than nzo .

So the overall numbers of my nzo would increase ,the value would stay the same . NZO would have to fall below 142cents before a margin call could be made . At that stage I would start buying more -and so i suspect would a lot of others . It would be a very expensive loss for a big player . Soon nzo will be in the top 20-possibly the top 10 if momoho comes in-its an odds favorite .I suspect many big players are under-exposed and their could be a big trading day on monday-i will be keeping out of it .

[fish]

the othier person who told me his stock was going ONE WAY was bob jones:rolleyes::rolleyes::D
There are lots out there who are/were brilliant at misleading --p.collins at brierly hawkins at equiticorp, numerous property developers ,don fletcher at ttp , finance companies and even overseas banks .
There are people on this thread that deliberately mislead-just look over their previos posts to see who i mean ,
Fortunately there are many brilliant posters who i have learnt to trust-eg bermuda waihoek unicorn digger enumerate to name just a few .

Above all do you own research-study the threads here-they give many links to great research ,nzog website ,sharebroker reports ,population and economy growth . I have been investing for over 20 years-often largely in the dark- and have never been able to access so much information so easily about any company as much as nzo .

In fact the only thing hidden with this company is the upside .

[digger]

duncan Macgregor,see at end of day 2million heads shares traded hands at 159.I take this as your action. It seems that you forget to cancell your order to purchase that stemmed back in the days when you thought last trading day for you comp was today.At the time you did say you were prepared to win at all cost.Now you will have to repeat that again on 30 june.But remember that we are on to you so your order may have to be larger.

[tim23]

--------------------------------------------------------------------------------

Duncan - you didn;t get told off like you said to Strat; you just got it wrong but the 5 day gap actually makes your comp a bit more exciting than you thought?

PS Still won't answer my question re the options if they were expiring 30/06/09, braindead, blue eyed - what is it tonight?

Duncan - you are probably a Beetles fan but No Reply? - this is my 3rd challenge to you (same question) - hey it won;'t go away - is it the Scottish system you are using?

[zorba]

.

Fish,

Good luck with your investment and the leverage via margin mortgage borrowing etc.

I agree with you that on a "company" level the upside "risk" is much larger than the downside risk .....

In the narrow copany view, the main downside risks are project/mechanical risks ...... the reserves of oil, gas and coal are proven and tested, so geological risks are low ...... now its mainly project/mechanical risks related to getting the stuff out and exported. In the case of Tui production and export is in full swing. For Pike and Kupe progress is excellent and the risks reduce with each project milestone accomplished.

In the broader view, there is a looming risk associated with a major serious pullback in the world economy consequent on the reckless useless promiscuous US sub-prime fiasco scam (to quote a couple of European and US business papers) and the resulting serious downturn - recession in the US .

Flintstone drew attention to some of these broader risks, including the sensible risk that the price of oil might be managed downwards by the big boys (Saudis and Central Bankers, plus bourse regulators) to a level that would allow the world economy time to adjust to energy prices above say US$100 thus avoiding the financial implosions inherent in a rapid rise to say US$150 - 200 / barrel.

My hope is that oil prices can be stabilised in the US$110 - 120 range, this gives incentives for exploration and encouragement for conservation which the world will need anyway to mitigate global warming etc.

Regarding margin mortgage borrowing, be sure to have some backup lines of credit in place..... when the OCs were exercised, there were quite a few Noggers who used McQuarrie margin lending and who were stung badly by margin calls when the headshare price sunk downwards for a few weeks after the OCs were exercised.

Personally I would be surprised if this happens with the NZO price this time round, but nevertheless keep something in reserve.

I was speaking to Waaihoek today and he sends good luck to all Noggers -- incidentally both he and I remember and suffered financially from all the misleading bullshi.te spouted forth by the likes of Collins, Hawkins and Jones back in the mid 80's !! What scammers !!


Flintstone,

Welcome to the NZOG board -- and thanks for your thoughtful first post !!

Z

.

[digger]

Here's a dampener for all the upgrade enthusiasts, plot these numbers and predict the next number ...

27 41 47 50

I did the regressions,the differentials and asked myself what is behind the screen and came up with the only final conclusion that answers all.
Ti is--- MUTSPTR

MUTSPTR

I will say it again until it sticks
MUTSPTR
That is all short for Minimum Upgrade To Satisfy Provisional Tax requirements.

[digger]

Regarding margin mortgage borrowing, be sure to have some backup lines of credit in place..... when the OCs were exercised there were quite a few Noggers who used McQuarrie margin lending and who were stung badly by margin calls when the headshare price sunk downwards for a few weeks after the OCs were exercised.

Personally I would be surprised if this happens with the NZO price this time round, but nevertheless keep something in reserve

Good post Zobra. However i can not see any connection between the OC's and the OD's.The only thing they have in common is that they are both NZO options.The circumstances are so different now that comparsions are out the window,yet too often this bit comes up that history will repear itself because it happen last time.
This time we have a producer that does not need the money but is stuck with it because it was issued 3 years ago when we all thought it was a great idea.This time when the OD's are exercised it will be the end of a looooog history of NZO with it's hand stuck out cluching the begging bowl.We can now look forward to no placements no cash issues and no options and favourably dividends. A very different world.
Say hello to Waaihoek for me.

[tim23]

Digger - big difference, the OCs were way in the money, no brainer, the OD's quite a bit different, but if you believe the story you take up the options, you buy brokerage free @ 6c approx below market price.

PS As for the Nobles - not taking up their options to diminish delution - get over yourselves, you sacrifice say $1000 of options (not worth the brokerage to sell for??) to make a point, sell your options and give to charity!

[upside_umop]

PS As for the Nobles - not taking up their options to diminish delution - get over yourselves, you sacrifice say $1000 of options (not worth the brokerage to sell for??) to make a point, sell your options and give to charity!

Exactly...there is absolutely nothing to gain from relinquishing them.

If 'everyone' thought like this, then there would be something to gain for the common head holders since no dilution would take place. But given the people that choose to 'hold' and let the options 'expire' only hold a fraction of the option, it actually does nothing to the dilutionly effect on the shares...well, it does but its negligble.

Its been rumoured the dilution effect is ~ 5cps..there is 138 million options.

'If' someone held 70 million and decided for some strange reason not to do anything with them, it would cut in the half the dilution effect....BUT...

'If' someone held 20 thousand options and decided not to exercise or sell, the effect would be (0.02/138)*100 = 0.0145% = change in dilution effect = ie neglible.

If you owned $100,000 worth of shares and chose to do that, congratulations you just made them worth $14.49 more! Was it really worth giving up that $1000?!

[Hoop]

I did the regressions,the differentials and asked myself what is behind the screen and came up with the only final conclusion that answers all.
Ti is--- MUTSPTR

MUTSPTR

I will say it again until it sticks
MUTSPTR
That is all short for Minimum Upgrade To Satisfy Provisional Tax requirements.

Yep totally agree

[Nitaa]

Yep totally agreeI concur. Very simple actually. Why pay more up fron tax than needed. There is an easy out simply through saying calculations were done on oil being x amount per barrel. That is a very fair argument especially when oil could easily come down to $50 pbo without much notice. Conversely oil could doublew in no time as well.

Remember that is conservative figure (imo) does not include any tie ins, extra production wells with tui. On current levels i say at least 80 to 100mbo with further exploration and production wells within the tui permit. This can come on stream relatively quick and before you know it voala.

Maui is a classic case in point. all of a sudden they found and extra 5 or so years worth of supply even though they have been pumping gas for decades. keep reserves low, put pressure on the market saying we are running out of gas etc, prices go up and what do you know. more gas came out from nowhere at maui.

although most pundits expect nzo to soar after conversion and my view is the same, nzo sp can come down 20 or 30% in short time as well. So people using margin lending need to prepare for the worst but your investment looks solid especially medium term at this stage. People didnt think it would happen last time and it did and it can happen again.

go nzo and go duncan... time to climb on even in a falling market

[the machine]

have decided to sell out of the remaining options on monday - have already given instructions to stockbroker.

someone else can pay for them to be converted.

so in the end have not sold down any good shares like prc / ppp to pay for the conversion.

options came for free and went through all the dud drills - they have lived their life

m

[winner69]

[QUOTE=Fish;207791]

...... NZO would have to fall below 142cents before a margin call could be made . .

Not much margin of error in that is there? A couple of bad days on the market and whammo .... but it could never happen could it?

[BigBob]

Not much margin of error in that is there? A couple of bad days on the market and whammo .... but it could never happen could it?

W69 - that's not my quote above, but it's exactly my point.... medium to long term I have no doubt that there will be significant appreciation in the share price.... short term who knows - it could easily go down 10-20%.... that's why I'm not leveraged...

[winner69]

[QUOTE=fish;207795]

Not much margin of error in that is there? A couple of bad days on the market and whammo .... but it could never happen could it?

Sorry BB - must have taken a quote from one of your replies to fish

[digger]

Further to yesterdays 50.1 million TUI upgrade and my MUTSPTR I thought i would outline why i think the present system is an advance over its preadsessor MUPTLSP@SO
MUPTLSP@SO stands for Maxium Possible Upgrade To Lift Share price and Stock Options.
MUPTLSO@SO was used for decades by the world major oil companies,especially Shell. As a result of the MUPTLSP@SO system with no counter balance Shells 's Reserves got so artifically big over the years that over the last 5 years Shell has had to reduce its inflated reserves to more likely achieval levels. This final facing of reality by Shell had a disasters downward effect on Shells SP and the managements Stock options.It also became the starting and focal point for the PO group to take off.
So do not get me wrong in thinking i am knocking the present MUTSPTR system. It is a system that will not lead the world up the garden path over world oil reserves,which i now see as the most pressing problem facing our plannet.Regreatably the MUTSPTR is not required world wide so much of current stated world reserves is a political requirement or a company plan to lift share price.
MUTSPTR for all its faults is the best system we have.

[upside_umop]

Exactly...there is absolutely nothing to gain from relinquishing them.

If 'everyone' thought like this, then there would be something to gain for the common head holders since no dilution would take place. But given the people that choose to 'hold' and let the options 'expire' only hold a fraction of the option, it actually does nothing to the dilutionly effect on the shares...well, it does but its negligble.

Its been rumoured the dilution effect is ~ 5cps..there is 138 million options.

'If' someone held 70 million and decided for some strange reason not to do anything with them, it would cut in the half the dilution effect....BUT...

'If' someone held 20 thousand options and decided not to exercise or sell, the effect would be (0.02/138)*100 = 0.0145% = change in dilution effect = ie neglible.

If you owned $100,000 worth of shares and chose to do that, congratulations you just made them worth $14.49 more! Was it really worth giving up that $1000?!

I think I had missed a bit from the last calculation...

Change in dilution effect = 0.0145% change dilution = 0.0145% * 5cps = even smaller!

Result is = overall dilution effect of head shares = 0.00000725 cps change in headshare value.

So going back to that $100,000..it would be equal to 64000 shares and the change in intrinsic value would be....64000*0.00000725 = $0.46

That makes more sense....although it still appears to be on the high side. You get the drift though... its deffinately not worth hanging onto your parcel of options to cancel out the dilution effect. Theres a name in economics for it i think, and everyone should act in their best interests and convert...maybe the prisoners dillema kinda fits? I cant remember..

[BigBob]

[QUOTE=winner69;207865]

Sorry BB - must have taken a quote from one of your replies to fish

No worries W69... still reinforces the point....

[digger]

Back when Matt Simmons debated Mahmoud Baqi and Nansen Saleri of Aramco at CSIS in 2004, one of the solutions that Aramco put forward was the increasing use that they were making of horizontal wells, particularly in new fields, and also of the introduction of the Maximum Reservoir Contact (MRC) wells where the initial horizontal well is supplemented by secondary laterals that are offshoots from the main initial drive. Further, with the introduction of down-hole valves that allowed segments of the well to be closed down, while segments on either side continued to produce, as a way of overcoming localized water breakthrough, smart wells were developed that would allow production to continue from wells that historically would have closed. In 2004, however, this was a technique that was being widely used in new fields, but not yet used exclusively in older ones. The difference is fairly significant, since a horizontal well can produce thousands of barrels a day, over the hundreds that can come from a vertical well in the same place. (The reason is that the length of the well in the productive rock that holds the oil controls how much oil can flow into a well at a given time, and the horizontal wells can run kilometers through oil-bearing rock, while vertical wells rarely run even a hundred meters.)

End quote.
This should work wonders with Tui,as we have a very shallow structure. Like the bit about shutting down a water section.As Tui is generally shallow a section that is less deep would have a big enfluence on the water cut long before the overall well is depleted.

[neopole]

hi digger,
you might find this interesting, its an artical about lazer beam drilling involving the oil industry. this is where the future of oil drilling is heading when it comes to getting the most of a field or turning an uneconomial field into a producing field.

http://www.ne.anl.gov/facilities/lal/laser_drilling.html

[Mick100]

hi digger
I don't think the tui wells have laterals - just horizontals - meaning that you can't shut down a section of the well without shutting the whole well down

[digger]

hi digger
I don't think the tui wells have laterals - just horizontals - meaning that you can't shut down a section of the well without shutting the whole well down

Hi Mike100
True but in 2010 another producing well TUI-h4 is going in and maybe it should have a dozen or more if economic.

[digger]

hi digger,
you might find this interesting, its an artical about lazer beam drilling involving the oil industry. this is where the future of oil drilling is heading when it comes to getting the most of a field or turning an uneconomial field into a producing field.

http://www.ne.anl.gov/facilities/lal/laser_drilling.html

Interesting. Lets hope the hugh energy requirements are not greater than the energy we are suppost to get out of the field. Also my immediate thought is what happens when this big spark hits the gas field?
Did you get your options exercised.Have pretty well worked mine out
Cheers neopole

[Lion]

I still wonder about the late trades on Friday. The ODs had a trade of 2 million at an unusually high price, some 40 seconds after 2 million heads traded also at an unusually high price. The OD price was 8.5, compared to the previous price of 4.5. What happened to the other sell orders between 4.5 and 8.5? There must have been heaps of them - I had one at 8c. This needs some explanation.

McDunk, do you have anything to tell us about this, as digger suggested?

Director David Scoffham has changed his "relevant interest" according to the NZX. Does anyone have the details?

P.S. digger - there'd be no oxygen down the hole, so no chance of explosion

[fish]

[QUOTE=fish;207795]

Not much margin of error in that is there? A couple of bad days on the market and whammo .... but it could never happen could it?

If its remotely possible to happen it could happen .

I always try to have a stategy to cope with unexpected market falls -as i have never borrowed to buy shares I am normally in a position to either buy more or hold and stay put .
With margin lending it is important to have a strategy should a margin call happen . Tomorrow I should have a new orbit mortgage on a property I own. I will not be drawing fully on it as if the sp falls below $1-50 -and certainly at 142-I would buy more with the shares being placed in the margin lending account to settle the margin call.

I just love the market exposure nzo is getting-around 40 links on google news yesterday-all good of course .Hopefully this will push the sp up next week .

Tomorrows trading could be an abberation and the last chance to get cheap nzo .

[airedale]

Hi Lion, yes a very unusual trade last thing on Friday. Summat's up.:confused:

[fish]

WASHINGTON (MarketWatch) -- Saudi Arabia confirmed it will pump more oil in July and repeated it will produce even more if demand warrants, news reports from the region said Sunday.
At a high-level meeting of oil producers and consumers, Saudi Arabia said it will pump 9.7 million barrels of oil a day beginning in July, an increase of 200,000 barrels a day from previous levels. It is the highest Saudi production level in nearly 30 years.
"Saudi Arabia is willing to produce additional barrels of crude oil above and beyond the 9.7 million barrels per day which we plan to produce during the month of July, if demand for such quantities materializes and our customers tell us they are needed," Saudi Arabia's Oil Minister Ali al-Naimi said in a speech in Jiddah, according to press reports.
Naimi reiterated Saudi Arabia's belief that the recent spike in oil prices hasn't been caused by a shortage of supply, instead blaming speculators and others for soaring prices.
Earlier Sunday, King Abdullah of Saudi Arabia blamed speculators, high fuel taxes in oil-consuming countries and increased oil consumption in developing countries for high and rising prices, reports said.
Meanwhile, officials from Nigeria said at the conference that the African country is now producing less than 1.5 million barrels of oil a day due to attacks on production facilities, compared to the 2.5 million barrels a day it's able to produce.

[duncan macgregor]

You only have to read the gleefool statements made on this thread every time the price of oil goes up to see what speculators are capable off. It will end up in global warfare with an all out scrap over the last few producing wells. The yanks are fighting over it now while CHINA is buying out everything in sight. Wait until the face off hopefully NZ wont have anything worth fighting over other than a few farting cows polluting the atmosphere. Hope you notice what the price of oil is in Scotland with all that north sea oil just off the coast line. They would have been much better off if the wells were all dusters. Macdunk

[Wilkins_Micawber]

Total production up to 22 June 2008: 14.1 million barrels. 13.7 million barrels have been shipped.
NZOG's share of production to date: approximately 1.75 million barrels.

Hmmm - just noticed something else which is either a slip up or may be significant ... the next part of the web post says ...
"The 'water cut' - the amount of water being recovered with the oil - has been significantly less than predicted, allowing a high daily production rate to continue."

This no longer says that the water cut is expected to rise significantly in coming weeks/months! This is the first update to TUI production on the website since the reserves upgrade last week, so there may be something to this ?? ...

[fish]

[QUOTE=duncan macgregor;208100]You only have to read the gleefool statements made on this thread every time the price of oil goes up to see what speculators are capable off.

There is no smoke without fire
Speculation alone hasnt forced the price up
The simple fact is there is a big shortage with less oil actually being EXPORTED
Saudi agrees to produce an extra 200000 barrels a day Whilst Nigeria today is producing 1,000,000 less barrels a day
Price oil is likely to go up -that is not so much speculation but opening ones eyes to what is happening aroud us .
I suggest you buy nzood today as it is unlikely to EVER be as cheap again

[Nitaa]

The Saudis are in a very good position no? Increase prodiction due to pressure put on by the likes of the US with a very good treade off by saying that they will increase prodiction if demands for such is warranted. I just love negotions where everybody wins. This is very good for everybody as it will hopefully stabilse oil prices somewhat. Traders still have their say imo

Last day folks to get a couple of cents for the options. Ill wait to mop up the rest of the desperate sellers at the end of the day.

[trackers]

The Saudis are in a very good position no? Increase prodiction due to pressure put on by the likes of the US with a very good treade off by saying that they will increase prodiction if demands for such is warranted. I just love negotions where everybody wins. This is very good for everybody as it will hopefully stabilse oil prices somewhat. Traders still have their say imo

Last day folks to get a couple of cents for the options. Ill wait to mop up the rest of the desperate sellers at the end of the day.

Also tempted to buy a few today at at least a 2c discount... Will see how it goes

[Casa del Energia]

You only have to read the gleefool statements made on this thread every time the price of oil goes up to see what speculators are capable off. It will end up in global warfare with an all out scrap over the last few producing wells. The yanks are fighting over it now while CHINA is buying out everything in sight. Wait until the face off hopefully NZ wont have anything worth fighting over other than a few farting cows polluting the atmosphere. Hope you notice what the price of oil is in Scotland with all that north sea oil just off the coast line. They would have been much better off if the wells were all dusters. Macdunk

Seriously doubt it is anything much to do with speculators. Haven't seen a real basis for it. Taking the farting cow analogy - then look at the products from the NZ dairy herd - WMP, Caesin, cheddar etc all gone up as much as oil. Fonterra represents 25% of world trade in dairy product - most of it sold through their own international supply chain - (some of it is even down to retail level), it markets from NZ using branded product from the dairy 'refineries' , not much is sold spot. (I'm not even sure if the futures market even deals in NZ product) - Therefore speculators have very little look in on dairy product trade - - yet the prices have sky rocketed as has oil - two different marketing structures - same result except one is sans futures traders.

[Dr_Who]

LAST DAY TO SELL YOUR OPTIONS!!

Dont panic, just line up and wait your turn! :D

[Drone]

Arbitrage op..

Short heads at 155, buy equiv oppies at 4c. and you've effectively bought heads @ 154. Convert, sell and at the same time close your short.

[777]

After today's shakeout ( pretty mundane to date) the next thing is what the head will do for the rest of the week. Could still be out of the money by next Monday (30th).

[tim23]

Still out of the money? How do you mean? The options are in the money at the moment and won't be about next Monday, are you suggesting the heads will be below $1.50?

[777]

Could be. Even of at 1.51 or 1.52 many may not bother to exercise especially if the markets continue to retreat.

[duncan macgregor]

Could be. Even of at 1.51 or 1.52 many may not bother to exercise especially if the markets continue to retreat. Well i got that one wrong if you are right i valued the options right at the start at 5c to take into account the risk factor. I would think that the sp would have been about 20c higher right now if it had not been for the options. About a 15% dilution thanks to the options in other words. Macdunk

[Dr_Who]

Stampede by options holders to sell out today.

[blockhead]

Suspect Friday nights buyer just got back in the office, another 2.8m of heads & OD's just gone through

[Drone]

Big vols through, now 8.7m oppies and 4ish mill heads traded. Heads seem to be holding ok which I hope is a good sign, just don't want all the leveraged people to get stopped out which could happen if it dropped a few cents more.

[digger]

In the absence of any additional crude supply, for every one percent of crude demand, we will expect a 20 percent increase in price in order to balance the market." End quote

With all attention on the options trading expiring end of today,people need reminding of the longer term outlook.
The quote above is the first time i have been able to get a maths on how increasing demand will effect the market.I have often wonder what the likely relationship was so it is is good to get at least one educated guess at that figure.So lets watch out and see if it is in fact 20 to 1. When the gas shortage happen in the US in the 1970's a small decrease in supply had a hugh effect on price.

[duncan macgregor]

Will the parcel be worth anything tonight?. The way its plummeting right now my 5c prediction at the start is looking quite stupid. Macdunk

[Dr_Who]

Suspect Friday nights buyer just got back in the office, another 2.8m of heads & OD's just gone through

Arbitrage?

[Sehnsucht888]

Acc have bought even more... Almost 12% of the options.

Summary of substantial holding to which disclosure relates
Class of listed voting securities: 30 June 2008 Options ($1.50 strike)
Summary for: Accident Compensation Corporation
For this disclosure,--
(a) total number held in class: 16,002,630
(b) total in class: 135,648,503
(c) total percentage held in class: 11.80%
For last disclosure,--
(a) total number held in class: 12,302,630
(b) total in class: 135,648,503
(c) total percentage held in class: 9.07%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure under the
instructions to this form: On-market purchases of a further 3,700,000 options
on 20 June 2008.

[Nitaa]

Will the parcel be worth anything tonight?. The way its plummeting right now my 5c prediction at the start is looking quite stupid. MacdunkThis is totally expected today. Holders that dont want to convert have very little choice. Either sell or get nothing.

Just watch the trading in the last 30 minutes. Remember i said to you that even if the heads dropped a fraction under $1.50 then the big players would still convert their options.

[shasta]

This is totally expected today. Holders that dont want to convert have very little choice. Either sell or get nothing.

Just watch the trading in the last 30 minutes. Remember i said to you that even if the heads dropped a fraction under $1.50 then the big players would still convert their options.

Wouldn't any "big player" wanting to accummulate go for the options & convert, rather than chase the heads shares & push the price up (depending of course how much they want).

Might still be in play for those with deep pockets?

I mean consensus seems to be the heads will take off after the options expire?

[duncan macgregor]

This is totally expected today. Holders that dont want to convert have very little choice. Either sell or get nothing.

Just watch the trading in the last 30 minutes. Remember i said to you that even if the heads dropped a fraction under $1.50 then the big players would still convert their options. If you read back to what BERMUCA said about the share price falling right back to conversion level at this point it makes a lot of sense. He picked $1-49 in the competition which i thought was far to low, but his reason for doing so is sound. It will be an interesting week, what number would you select now NITA for next monday night if could second pick?. I would say my $1-59 looks to high but who knows. Macdunk

[Chalice]

Wouldn't any "big player" wanting to accummulate go for the options & convert, rather than chase the heads shares & push the price up (depending of course how much they want).

Might still be in play for those with deep pockets?

I mean consensus seems to be the heads will take off after the options expire?

Having a look at how the heads have been working all day maybe that "big player" has been dumping heads all day to ensure the option price does't get carried away? Meanwhile has been accumulating options at an average of around 3 cents and will keep the head price as close to or below 1.50 until the 30th to ensure they end up having a larger share of the company due to smaller/leverage players not wanting to risk converting? Just a thought..

[digger]

Having a look at how the heads have been working all day maybe that "big player" has been dumping heads all day to ensure the option price does't get carried away? Meanwhile has been accumulating options at an average of around 3 cents and will keep the head price as close to or below 1.50 until the 30th to ensure they end up having a larger share of the company due to smaller/leverage players not wanting to risk converting? Just a thought..

This is exactally what is happening.ACC have already reported to have done this when they held just over 5% in this last week but now with that report were under 5% so do not need to further report. What that means is a very nice play on there part.Today they can dump heads to supress the options and buy them,only having to report the option move.
Well done ACC a top investment for the minnium dollar.Once NZO takes off our ACC preiums can drop to nil and just live off the oil flows.
Probably what has suprise me the most here is that no other Inst could see or act on the best NZX investment in town.

[Dr_Who]

Ok, picked up some more NZO today. :)

Had a looked at the analysts reports. The analysts have factored into oil average price of around $100bbl. Currently oil is trading at $135bbl. Falling $NZ, high coal price, high oil price and Tui upgrade have the valuation north of $2.30 pre options conversion. :)

ACC continues to accumulate stock! :)

disc: NZO shareholder

[777]

Will the parcel be worth anything tonight?. The way its plummeting right now my 5c prediction at the start is looking quite stupid. Macdunk

Well done Macdunk.

$1.55 less $1.50 to pay gives the 5c at the final bell.

[COLIN]

This is exactally what is happening.ACC have already reported to have done this when they held just over 5% in this last week but now with that report were under 5% so do not need to further report. What that means is a very nice play on there part.Today they can dump heads to supress the options and buy them,only having to report the option move.
Well done ACC a top investment for the minnium dollar.Once NZO takes off our ACC preiums can drop to nil and just live off the oil flows.
Probably what has suprise me the most here is that no other Inst could see or act on the best NZX investment in town.
I found that it was worthwhile today to sell the remainder of the heads that I held, and thus avoided having to sell any options, at their lower price.
Every dollar counts!

[JBmurc]

Well going be interesting to see how many opts will be exercised I'm confindent most of the 200mill will be received into NZO bank account -add the gross 130mill+ from TUI 08/09 flow
add there share of PRC at current market value another 120mill -Kupe cashflows to come
+Momoho drill --NZO has pently to keep even the most negative investor happy

[tim23]

You have to assume that most bought today would be execised?

[Chippie]

Have you seen the latest June valuations on NZOG site released today
http://www.nzog.net/investorsSection/Broker%20Research

Five brokers all with Buy recommendations of $2.32, $2.24, $2.26, $1.98 and $2.18

ACC has made (or should make) a killing on the options.

[Grimy]

You have to assume that most bought today would be execised?

Well the ones I picked up today at 2.1c will be!

[Dr_Who]

Dont forget that once most of the options are exercised, NZO will be in the top 20 stock and be on the radar of the other institutional fund managers overseas. If another institutions wants stock, they will have to compete with ACC and the sp will rocket upwards.

[fish]

? re ACC --Meanwhile has been accumulating options at an average of around 3 cents and will keep the head price as close to or below 1.50 until the 30th to ensure they end up having a larger share of the company due to smaller/leverage players not wanting to risk converting? Just a thought.. ---for fish[/QUOTE]

Thanks for your concern malcolm .
Have been accumulating cheap options-exciting close today -just missed out on a buy order i put in just before 5pm for a further 100000 options at 2.6 cents -i meant to type in 2.7 -my order didnt register on the buy board so must have been too late .

ASB charged me $250 today for establishing the orbit mortgage I havnt drawn on yet-like margin trading you are only charged on the daily funds drawn out= nil so far and i am getting daily interest on my deposit until computershare bank the cheque for options ( i will not be posting until monday 30th ).
I will comfortably be able to convert the options whatever the head price now

The interest on the loan will be tax deductible and I wont be selling my head shares for a long time . As i have said before the sp will go ballistic next month with the next financials .
Production again looks like exceeding previous projections .
Tapis is over $140 us and is likely to stay that way .
PRC about to start production
Momoho should do well-?drill update tomorrow .
With the options out of the way the heads will be over $2 soon and maybe $3-just as prc appreciated 100 % in the months after their options closed .
Enjoy the ride -maybe a slow start tomorrow but will gather momentum with nothing to hold it back and everything to push it forward

[tim23]

Well the ones I picked up today at 2.1c will be!

Well done Grimy, good shopping I suspect. The major shareholdingslook set for major shake up by the looks, next few months interesting to see how unfolds...

[Lion]

I found that it was worthwhile today to sell the remainder of the heads that I held, and thus avoided having to sell any options, at their lower price.
Every dollar counts!

I found that it was worthwhile today to sell the remainder of the options that I held, and thus avoided having to sell any heads. Every dollar counts.

(I sold all my ODs today and Friday, except what I'm going to exercise, at an average sale price of 5.08c)

Funny old world, isn't it? I think the two strategies are almost the same. When the heads I hold go up in value, it will match the increase in the heads you are about to acquire. You paid brokerage on your sale of heads, I paid (less) brokerage on my sale of options. You gain a few days of less interest than I do. But it's all small deal compared to what is about to happen. As I've said before, barring some catastrophe, we're all onto a winner here.

Lion, sitting back with a grin and (99%) confidence it's all about to come right :)

[zorba]

.
Hey Mcdunk, give your old mate Zorba a pat on the back, he like you considered the the competition was all about the price of the head shares on the last day of option trading .......

And the closing price of the heads is ........ $1.55

And guess what .............. !!!!!!!!!

Good on you McDunk for running the competition and i hope you have picked up some cheap Heads or Options along the way !!!!

Cheers,

Z

[tim23]

You might be cheering today but not next Monday!

[bermuda]

You might be cheering today but not next Monday!

These little competitions are a mere foreplay to the real event.

The coming of age for NZO.

[zorba]

.
Tim,

Verily, beware the reflection of the uncouth masturbunt -- the main thing is that the options ended up in the money and with a bit of luck the great majority of them will be execised !!!!

Have some joy from small things !!!!

In the meantime check out the latest price of oil:

http://futures.tradingcharts.com/intraday/CL_/88

US$140 / barrel could be on the cards by the end of the week or sooner -- and its all go for the options.

Z

.

[COLIN]

I found that it was worthwhile today to sell the remainder of the options that I held, and thus avoided having to sell any heads. Every dollar counts.

(I sold all my ODs today and Friday, except what I'm going to exercise, at an average sale price of 5.08c)

Funny old world, isn't it? I think the two strategies are almost the same. When the heads I hold go up in value, it will match the increase in the heads you are about to acquire. You paid brokerage on your sale of heads, I paid (less) brokerage on my sale of options. You gain a few days of less interest than I do. But it's all small deal compared to what is about to happen. As I've said before, barring some catastrophe, we're all onto a winner here.

Lion, sitting back with a grin and (99%) confidence it's all about to come right :)
Yes Lion, I guess you're right. You did well to average 5.08c on the options sales. I had expected a more pronounced upwards movement in those towards the end of the day but it didn't eventuate so I quickly did what I did.
Your strategy also eliminates the risk of the options exercise form and cheque going astray in the post - I am placing great faith in the NZ Post Office!
I also am happy with the extent of my NZO exposure (the largest % in my portfolio) but I think there will be continued dampening of the price for a while yet as I believe many will seek to gradually unload "excess" exposures, particularly where there is leveraged purchasing, or other borrowing, involved. I will be holding for the long haul.

[joey]

Or be a party pooper, or rain on anyones parade. Has any of you nzo traders/investors considered what would happen in a world recession to the price of oil? It would go down very quickly. Why do I think this? Because I have seen this happen in the 1970's. Gold at the time went to $US850 approximately, which in real terms is about $US2000. The United states of America is now in a recession. Bermuda, have you run the forecasts you are making on the nzo returns or the Pike River Company, if the world goes into recession? China alone cannot be a driver of the world economy if the USA "hits the wall". China's GDP is one eighth of the USA!

All I am saying is this share has a risk factor associated with the price of oil. I think the price of oil is the next bubble to burst. It's a stock for the day traders/traders!

You new investors, think very carefully of how much risk you are willing to take.

NZO is a great stock to trade if you know what you are doing. It is definately not a stock for beginners!

Anyway that's my opinion.



disc. ANZ, Platinum Int. Equities, Fisher Funds.

joey

[AMR]

Or be a party pooper, or rain on anyones parade. Has any of you nzo traders/investors considered what would happen in a world recession to the price of oil? It would go down very quickly. Why do I think this? Because I have seen this happen in the 1970's. Gold at the time went to $US850 approximately, which in real terms is about $US2000. The United states of America is now in a recession. Bermuda, have you run the forecasts you are making on the nzo returns or the Pike River Company, if the world goes into recession? China alone cannot be a driver of the world economy if the USA "hits the wall". China's GDP is one eighth of the USA!

All I am saying is this share has a risk factor associated with the price of oil. I think the price of oil is the next bubble to burst. It's a stock for the day traders/traders!

You new investors, think very carefully of how much risk you are willing to take.

NZO is a great stock to trade if you know what you are doing. It is definately not a stock for beginners!

Anyway that's my opinion.



disc. ANZ, Platinum Int. Equities, Fisher Funds.

joey

Hi joey,

NZO is a very very tame oil stock. Have you seen the likes of OEL, PSA or BOW? I'm sure most of the posters here will be out in a second if the smart money starts dumping in big volumes.

[COLIN]

Thankfully no-one seems to have frightened us yet with another risk - Nationalisation! With NZOG doing so well, and the increasing, irrational, anger being vented against the "oil barons" by the unthinking masses, what's the bet that the extreme left of the socialist wing of the Labour Party aren't going to raise this possibility? Labour's extremely poor showing in the polls must have it desperately casting round for a "circuit breaker" - and, after all, they didn't hesitate to stymie the sale of 40% of AIA to an overseas party, on the spurious grounds that the country's strategic interests were at stake. What could be more "strategic" in Labour Party Speak, in the current climate, than New Zealand's very own oil producer?
Perish the thought. I don't believe it would happen, at least not in the immediate future, but we are living in increasingly desperate times. Hugh Chavez is no doubt increasing in popularity amongst the Venezuelan masses.
Sorry to have raised the thought, but someone is bound to, sooner or later.

[bermuda]

Or be a party pooper, or rain on anyones parade. Has any of you nzo traders/investors considered what would happen in a world recession to the price of oil? It would go down very quickly. Why do I think this? Because I have seen this happen in the 1970's. Gold at the time went to $US850 approximately, which in real terms is about $US2000. The United states of America is now in a recession. Bermuda, have you run the forecasts you are making on the nzo returns or the Pike River Company, if the world goes into recession? China alone cannot be a driver of the world economy if the USA "hits the wall". China's GDP is one eighth of the USA!

All I am saying is this share has a risk factor associated with the price of oil. I think the price of oil is the next bubble to burst. It's a stock for the day traders/traders!

You new investors, think very carefully of how much risk you are willing to take.

NZO is a great stock to trade if you know what you are doing. It is definately not a stock for beginners!

Anyway that's my opinion.



disc. ANZ, Platinum Int. Equities, Fisher Funds.

joey

Yes , I do think about these things which are very real and important. And yes it could happen. We could have a crisis on our hands. But , perhaps naively I think we can get through..but at the same time oil goes ever higher. Look if I asked everyone here to save 30% you could do it. So i reckon the world could save 15% just like that. So we will struggle on but if you can see the formula....

Oil goes higher...and so does coal seam gas.

[COLIN]

Or be a party pooper, or rain on anyones parade. Has any of you nzo traders/investors considered what would happen in a world recession to the price of oil? It would go down very quickly. Why do I think this? Because I have seen this happen in the 1970's. Gold at the time went to $US850 approximately, which in real terms is about $US2000. The United states of America is now in a recession. Bermuda, have you run the forecasts you are making on the nzo returns or the Pike River Company, if the world goes into recession? China alone cannot be a driver of the world economy if the USA "hits the wall". China's GDP is one eighth of the USA!

All I am saying is this share has a risk factor associated with the price of oil. I think the price of oil is the next bubble to burst. It's a stock for the day traders/traders!

You new investors, think very carefully of how much risk you are willing to take.

NZO is a great stock to trade if you know what you are doing. It is definately not a stock for beginners!

Anyway that's my opinion.



disc. ANZ, Platinum Int. Equities, Fisher Funds.

joey


With all due respect, Joey, your disclosed portfolio could do with just a touch of excitement added to it! Go on, be daring, grab an energy stock or two!

[peat]

in response to Bermudas statement to me in the SKC thread fwiw heres some info from elliot wave.com which might provide an exit strategy for the current band of bug-eyed oilers.

[fish]

[QUOTE=malcolm;208220]don,t be suprised diigger to see a couple more----- inst---- 5% or more come 1st july (after option conversion) -----------you got to remember those who head these ----INSITUTIONS----- are accademics--- a bit slow on take up-- ex school teachers :rolleyes::rolleyes


From yesterdays asb investor report

KiwiSaver inflows would remain solid, Mr Atkins said, given greater contributions and high uptake - 2300 people signed up every day last month.

What is unclear is where the funds are being allocated.

Mr Atkins said the high voluntary uptake suggested a big proportion of the funds would be invested in growth assets.

"This will provide a boost to the financial services industry, with greater funds under management also potentially boosting local equity markets."




there could be a lot of new investment heading into nzo-best to get in before the next financials reflect the current record prices nzo should be getting for TAPIS
I suspect tomorrows sp performance might be a pleasant surprise

[Corporate]

[QUOTE=malcolm;208220]don,t be suprised diigger to see a couple more----- inst---- 5% or more come 1st july (after option conversion) -----------you got to remember those who head these ----INSITUTIONS----- are accademics--- a bit slow on take up-- ex school teachers :rolleyes::rolleyes


From yesterdays asb investor report

KiwiSaver inflows would remain solid, Mr Atkins said, given greater contributions and high uptake - 2300 people signed up every day last month.

What is unclear is where the funds are being allocated.

Mr Atkins said the high voluntary uptake suggested a big proportion of the funds would be invested in growth assets.

"This will provide a boost to the financial services industry, with greater funds under management also potentially boosting local equity markets."




there could be a lot of new investment heading into nzo-best to get in before the next financials reflect the current record prices nzo should be getting for TAPIS
I suspect tomorrows sp performance might be a pleasant surprise

Your right. I have personally been working with one of the Kiwisaver providers and the government kick start is huge to start with!

[Dr_Who]

Joey, I think you should read the research reports on NZO. Most analyst have factored the likelihood of an oil correction, hence the valuation is very conservation and based on the oil price at $100bbl. Currently the oil price is trading at $136bbl, so there is alot of margins in the valuation.

I am very comfortable buying into a company with good reserves and good cashflow with a very conservative valuation model.

Good investing everyone. :)

[duncan macgregor]

[QUOTE=duncan macgregor;207742][QUOTE=duncan macgregor;207051]Competition to select NZO share price on conversion date June 30th
in the event of a tie the winner is the person with the correct score posting first
I will list you in posting order.
1,AMR 180c, 2, OILER 165c, 3,Macdunk 159c. 4,MATTYROO 158c.
5,SEAMUS 135c, 6,SERPIE 131c, 7, LIZ 120c, 8, STRAT157c.
9TRACKERS 168, 10, COLIN 170, 11,THE MACHINE 210c. 12,MALCOLM 200c.
13,SPOOK 172, 14,BIG BOB184c, 15,ZORBA 155c, 16, REMY 167c,
17 AMERICAN PSYCHO 175c 18 SHASTA 161c, 19RONTHEPOM 171c 20 PHAEDRUS 160.
21SHREWDY 169, 22 BERMUDA 149, 23 MORV 183c, 24 COALIE 188c
25 DIGGER 173c, 26 blank, 27 NITA 181c, 28 SUMMER NED 193c.
29 QOH 179c, 30 WK6332 225c 31 BALANCE $10-60 32 KS 162,
33 TOK3N 145c, 34 SHANE M 162.5c, 35CORRAN 156c, 36 MICK100 300c.
37 DSURF 154c, 38 SKEET 185c,39 MIBO 177c, 40 JAY 162c,
41 ZACMAN 187c, 42 GAMBLER33 115c, 43 ANUBUS144c, 44 BRUCETO9 164c.
45 romer 163c.46 HOOP 147c 47 RABBI 148c 48 ROTWEILLER 153c,
49 MINGEATHINAIOOS 150c,50 MANXMAN 195c, 51 MACDUFFY 146c, 52 BLOCKHEAD 198c,
53 777 226c,54 SWISSBOY 174c,55 AIRDALE166,56 CLIPS 178c,
57 PADDIE 196c,58 FOODEE 176, 59 BK152c,60 MPC182c,
61 STEVE 151,62 ONTHEMONEY 143, 63 LION 186, 64,TIM23 189c,
65 BOB C 190 66 RIF RAF 191c 67, OUT TO LUNCH 194 68 SEHNSUCHT888 192c,
69 PIETRADE 220c,70 ZAC 197c, 71,CAM 245C,72, CHALICE 214c,
73 GLENDOONIE 142c 74,UPSIDE_UMOP 159c,

[trackers]

Or be a party pooper, or rain on anyones parade. Has any of you nzo traders/investors considered what would happen in a world recession to the price of oil? It would go down very quickly. Why do I think this? Because I have seen this happen in the 1970's. Gold at the time went to $US850 approximately, which in real terms is about $US2000. The United states of America is now in a recession. Bermuda, have you run the forecasts you are making on the nzo returns or the Pike River Company, if the world goes into recession? China alone cannot be a driver of the world economy if the USA "hits the wall". China's GDP is one eighth of the USA!

All I am saying is this share has a risk factor associated with the price of oil. I think the price of oil is the next bubble to burst. It's a stock for the day traders/traders!

You new investors, think very carefully of how much risk you are willing to take.

NZO is a great stock to trade if you know what you are doing. It is definately not a stock for beginners!

Anyway that's my opinion.



disc. ANZ, Platinum Int. Equities, Fisher Funds.

joey

In a global recession I definitely would not want to be in managed funds... nor finance-related companies, nor retail - Which, to be honest, looks like exactly what you're in!!

A few of the knockers here believe that the hype surrounding NZO is directly related to the price of oil. I'm afraid thats not true at all.....

PRC is post $2, and is about to start exporting coal on contracts worth triple what they were last year. It is a NZSX50 company, NZO owns a third.

Kupe has been cruising along, and will be in production next year.

TUI has been stunning.... Has been absolutely creaming it, with production wayyy above expectations, very little water cut, and we've seen its probable reserves double. Investment pay back was extremely quick, and the time it took to bring it into production has set records... The price of oil is the icing on the cake.

Global demand for oil keeps increasing, and will continue to increase, global recession or not... And NZO will keep creaming it (even below $100 a barrel which is looking extremely unlikely in the short term)

[fish]

A relief to have the options out of the way and selling pressure gone-now more buyers than sellers
nz dollar fallen below 76 cents and tapis us $142-theoretically TUI should be grossing 1.1 million dollars a day -incredible when you think the forcast a few months ago was around 0.2 million !

[Wilkins_Micawber]

A relief to have the options out of the way and selling pressure gone-now more buyers than sellers
nz dollar fallen below 76 cents and tapis us $142-theoretically TUI should be grossing 1.1 million dollars a day -incredible when you think the forcast a few months ago was around 0.2 million !

Selling pressure not necessarily gone yet - there is likely to still be some as people can still sell NZO shares this week to pay for option conversion which only has to be posted by 30th. So say if posted on Fri with chq being banked Mon 30th, can sell NZO on Wed and have cleared funds on Mon to cover the chq. So it is possible the handbrake will still be on a bit until later in the week.

[trackers]

Looking good, trades through at 1.58, over $1mil traded this morning. Undisclosed quantity buying at 1.57 and sell orders disapating.

I'll be disappointed if we're not 1.63/1.64 by the end of the week (though as Wilkens points out, the oppies are still in play really)

[COLIN]

My 170 by 30/6 looking good! (Duncan's "competition")

[duncan macgregor]

My 170 by 30/6 looking good! (Duncan's "competition") Its about 11c to high in my opinion. It will take a couple of weeks before trading resumes in a normal fashion with people being forced to sell. REASONS BEING Nagging wives, Bank managers, with a few cases of the Baliff knocking on the door. UMOP and my good self are going to clean you lot up with our $1-59. Macdunk

[The Great Gold Guru]

I bgt some NZOOD's a few weeks back at 5c ... have received no exercise notice , have checked on Computershare website and they are in my account. Any ideas what I should do ? , I bgt them with the intention of exercising them as the were 2.5c cheaper than the ords at the time.

[corporateraider]

Great Gold Guru

You can get an option exercise form on the NZOG website and it has details on that

[The Great Gold Guru]

Cheers, will check that out.

[digger]

Great Gold Guru

You can get an option exercise form on the NZOG website and it has details on that
Yes just fill out the form as you know to be correct and send in the money.Eventually it will all get sorted out in the wash.But definately send the money in do not wait for the so called correct forms to arrive in your mail.

[Chris Roberts]

There was a mass mailout to over 10,000 option holders at the end of May, which included a personalised Option Exercise form.

Anyone who has purchased Options since May 18 will not have received a personal letter. They will need to use the form from the NZOG website or call NZOG on 04 495 2424 and request one.

The completed form, together with a cheque or bank draft in NZ dollars, must be posted to Computershare by 5pm Monday 30 June.

Up to 12 June, applications were alloted new shares on a weekly basis. To assist Computershare's administration requirements, allotment of shares for applications received since 12 June will not occur until early July.

[friedegg]

do you make the tea at nzo?

[digger]

do you make the tea at nzo?

Great post friedegg.Careful they might get ruffeled by your questioning power and decide to feed freideggs with the tea.

[trackers]

do you make the tea at nzo?

Ask MacDunk, he knows all the tea ladies there (and everywhere else, incidentally)

[friedegg]

Ask MacDunk, he knows all the tea ladies there (and everywhere else, incidentally)
mcdunks going to lose his comp anyway this will be an interesting close today i think

[777]

do you make the tea at nzo?

I don't know where you have been,sunny side up, but the following link may help. It even includes a photo of his good self.

http://www.nzog.net/corporate-directory

[Corporate]

Anyway.....closed at 1.60! I am back to even. Lets see NZO continue its post option rise to stardom tomorrow!

[Casa del Energia]

YUSS! - I love it when a plan comes together. The stuff I sold out of to top up nogs slumped weeks ago and now NZO has broken the 1.60 psychological barrier. Welcome aboard Apollo 18 -- please observe how quickly we pass through the stratosphere on the way into orbit. Please ensure your harness is properly secured; enjoy the ride.

[Dr_Who]

Anyway.....closed at 1.60! I am back to even. Lets see NZO continue its post option rise to stardom tomorrow!

Very positive note to have NZO and PRC up today. This sets the stage for a higher price. I guess ACC is still buying stock.

[Corporate]

Very positive note to have NZO and PRC up today. This sets the stage for a higher price. I guess ACC is still buying stock.

Agreed and it makes me feel slightly stupid for considering selling NZO. Then even more so for not buying more at 1.53 when I had the chance and the funds to do it.

[Corporate]

Update 1.61

[Casa del Energia]

Update 1.61

Great - we're on afterburner.

[tim23]

If you believed in them at $1.53 then $1.60 still ok isn't it after all I assume you are buying them because you think in the medium/longer term they will be $2.00+ so whats 7c?

[zac]

Not much on the sell side at the close. McD is going to have to dump plenty on the market to hold the horses back.

[digger]

Update 1.61
A mere 11 cents to go and i win DM competition and drink by myself.Or alternativly when i finish my new house we could have a drink up together and overlook the waikato. So lets hope the 30 june is no more than 172 and i now fear that will be on the light side.Did Balance not say 10 50 or something like that.Could win if Momoho gets the smell super high to closure.

[shasta]

Update 1.61

$1.61 twas my pick, so no more buying or selling until 1 July :D

[Dr_Who]

Mcdunk, lets have some disclosure. Do you hold any NZO? What price you got in at?

[zac]

By my calcs today would have been the last day to sell heads and receive the money in time to convert options. (Settling is T+3 and money transfer would be overnight). So the shackles are off. I would expect more selling of Ords when they are issued to option converters who have used short term funding to speculate.

[tim23]

Mcdunk, lets have some disclosure. Do you hold any NZO? What price you got in at?
__________________
Time for a Change! Time for Zero Tolerance to Crime!


Dr Who - do you really expect a credible answer to that question!!

[777]

By my calcs today would have been the last day to sell heads and receive the money in time to convert options. (Settling is T+3 and money transfer would be overnight). So the shackles are off. I would expect more selling of Ords when they are issued to option converters who have used short term funding to speculate.

Actually tomorrow. Sell Wednesday and money in account Monday. Transfer same day and if option cheque presented on on Monday then it will also be cleared on the same night. In reality the cheque won't be banked until Tuesday anyway.

[COLIN]

do you make the tea at nzo?
Chris has been very helpful. Don't belittle him.

[COLIN]

Also strong finish for PRC on ASX.

[friedegg]

Chris has been very helpful. Don't belittle him.
someones got to do it and ive been told the tea maker has the best judgement on the destiny of a business

[digger]

By my calcs today would have been the last day to sell heads and receive the money in time to convert options. (Settling is T+3 and money transfer would be overnight). So the shackles are off. I would expect more selling of Ords when they are issued to option converters who have used short term funding to speculate.

Can sell wednesday and if you use broker as i have done let them send in your options conversion and thereby save it going through the bank and waisting 4 days.
I was faced with a bad choice here and sold out of PRC.That hurt but will still have expoisure through the greater holding in NZO. Will convert all my options. @ dollars just around the corner---go PRC make it happen.

[Woody51]

Chris, I think you guys at NZO have done a fantastic job. Congratulations and keep up the good work.

[The BOWMAN]

No trading for NZOOD today. I wonder where was the information that yesterday was the last day trading for NZOOD???

Also for those who has converted the options already, how long does it take before your money disappears after your form is out in the mail?

[COLIN]

No trading for NZOOD today. I wonder where was the information that yesterday was the last day trading for NZOOD???

Also for those who has converted the options already, how long does it take before your money disappears after your form is out in the mail?

Letter accompanying "Notice of Exercise Form" stated relevant dates.
Presumably company will bank your cheque as soon as they receive it.

[Nitaa]

Letter accompanying "Notice of Exercise Form" stated relevant dates.
Presumably company will bank your cheque as soon as they receive it.Correct.

Interesting days trading. There are some building up a rather large stake. It is going to be a very interesting next 6 weeks

People. Should there be an offer on the table to buy out nzo in the next 12 months then DONT SELL" i repeat DONT SELL. Do not be greedy and take a short term profit. I dont care if its $3, $4 or $5 per share. DO NOT SELL.

[temuk]

Nita

do you know something ??

[Corporate]

Correct.

Interesting days trading. There are some building up a rather large stake. It is going to be a very interesting next 6 weeks

People. Should there be an offer on the table to buy out nzo in the next 12 months then DONT SELL" i repeat DONT SELL. Do not be greedy and take a short term profit. I dont care if its $3, $4 or $5 per share. DO NOT SELL.


$5 a share would be pretty hard to turn down. I'm not sure NZO is worth quite that much. Just yet. :D

[ritchie]

Hi Digger

Was in same predicament but couldnt sell PRC. May or may not regret that one.

Wasnt prepared to take out a loan re ODs even though I knew the share would go up.

Go PRC alright and NZO of course.

[joey]

With all due respect, Joey, your disclosed portfolio could do with just a touch of excitement added to it! Go on, be daring, grab an energy stock or two!


Colin, that's a correct observation in a relative sense. For excitment I go to the casino or racetrack. I don't mind taking an average 13.78% compounted on Platinum's International Equity funds.

Some may ask why is he interested in NZO. The reason is I have followed this share since it listed in 1981 at $0.50 per share. I have also invested twice in the share. Last time it was when NZO was drilling that well that had a name sounding like the Major in Hogan's Heros.

One reason I think the stock is better now than ever in its 26 year history, is TR is playing a less of a roll in the company.

joey

[fish]

Correct.

Interesting days trading. There are some building up a rather large stake. It is going to be a very interesting next 6 weeks

People. Should there be an offer on the table to buy out nzo in the next 12 months then DONT SELL" i repeat DONT SELL. Do not be greedy and take a short term profit. I dont care if its $3, $4 or $5 per share. DO NOT SELL.

I would add to this do not sell NZO now-you will regret it

Lots big buyers out there-one at 4.55 pm was trying to buy a large amount-not disclosed as was over 100000 shares and therefore didnt have to disclose the amount .

Tapis is at a new record in nz dollars--nz/us under 76 and Tapis us 143.22
NZO theoretically earning 1.1 million gross per day

All the recent sharebroker reports valuing nzo at over $2 havnt factored current prices in.

I still believe there is a high chance of nzo being $3.00 by xmas-almost certain if momoho comes in(50% probability )

I have taken out a new mortgage to back up my margin lending -looks as if i wont need to draw on the mortgage to back up margin lending but means i sleep happily .

[zorba]

Colin, that's a correct observation in a relative sense. For excitment I go to the casino or racetrack. I don't mind taking an average 13.78% compounted on Platinum's International Equity funds.

Some may ask why is he interested in NZO. The reason is I have followed this share since it listed in 1981 at $0.50 per share. I have also invested twice in the share. Last time it was when NZO was drilling that well that had a name sounding like the Major in Hogan's Heros.

One reason I think the stock is better now than ever in its 26 year history, is TR is playing a less of a roll in the company.

joey


Give TR his due, he and the Board and management held the company together for 27 years, saw off those GPG/Brierly mongrels (when they tried to take over NZOG, they would have stript it and hocked it off), and by good old solid perserverance along with dedicated staff have brought three major projects to fruition.

These three major projects were comming down the track long before the current CEO took the wheel ......

Agree though that DS is the now the right man to be leading the company .... nevertheless its been presented to him more or less on a plate.

The next big challenge for NZOG (CEO, management and Board) is how best to make use of the option exercise funds and the present huge Tui cash flows ..... this will be the real test for the company over the next several years.

Z

.

[Sehnsucht888]

Well, I am very surprised at the movement yesterday and today. I expected there would beother like me still needing to unload a few heads to convert the options. Not needing to sell so many now, and might unload something else instead....
Odd that those with deep pockets buying so many now, didn't take on the 3 4 and 5 cent options available on Monday or last week..

[Billy Boy]

The next big challenge for NZOG (CEO, management and Board) is how best to make use of the option exercise funds and the present huge Tui cash flows ..... this will be the real test for the company over the next several years.
Good point Zorba
I would like to see them wrestle PEP38262 off origin energy. That's
the block of the Canty Coast. Has had good showings on very little
drills todate.
BB

[trackers]

Trades through at 1.68... I love being right, just wish I could have leveraged a bit to further take advantage of this which was surely to come.

Unfortunately my 1.69 for the comp is starting to look a bit low :(

[AMR]

Go my 1.80! It's looking a better and better shot by the day!

[COLIN]

Odd that those with deep pockets buying so many now, didn't take on the 3 4 and 5 cent options available on Monday or last week..
My thoughts entirely. "Rational Market Behaviour"? Nah, there is no such thing.

[digger]

Go my 1.80! It's looking a better and better shot by the day!

Mine is 172 and is looking tooo low.

[COLIN]

Go my 1.80! It's looking a better and better shot by the day!

I see that your Mr Cunliffe is having continuing problems with hair! (See todays news report re Parliament yesterday - on www.stuff.co.nz.)
I agree with Strat - that picture disturbs me whenever I see it!
Cheers!

[Dr_Who]

Well, I am very surprised at the movement yesterday and today. I expected there would beother like me still needing to unload a few heads to convert the options. Not needing to sell so many now, and might unload something else instead....
Odd that those with deep pockets buying so many now, didn't take on the 3 4 and 5 cent options available on Monday or last week..


I think what you are seeing is a re-rating of NZO to the top 20 index. This usually means the funds will have to adjust their portfolio and maybe add more NZO shares to the weighting. Good news, under valued and top 20 index all equals to NZO sp going up. :)

[AMR]

Top 15 or top 20? Is there an index for the top 20??

Oh yes..David cunliffe's hair...this avatar is a protest against his decision not to pay junior doctors more...:)

[777]

$1.73 now. It is even possible I have a chance in the competition. Mind you if I do then you all will be happy.

[bk]

I think this is overshooting the target - not that I mind!

Indeed, why did the people with the big money not buy cheap options and / or heads a couple of days ago?

one happy holder here

[Mick100]

if I was you, I would wait until the uptrend is set in concrete. I would wait until the shareprice is at least $2.50 before buying:D

[trackers]

I think this is overshooting the target - not that I mind!

Indeed, why did the people with the big money not buy cheap options and / or heads a couple of days ago?

one happy holder here

Hi ho hi ho, its off to Momoho we go?

[friedegg]

the movement may more be that they are seen as a cheap takeover target

[Corporate]

Big volume, Big increase! Not many shares on the sell side!

[Drone]

WOW!!

Well done to all noggers for keeping the faith!

Am a very happy holder of a lot of CFDs on this one.. made a house deposit sized profit in last few days, booyah! (excuse the excitement!)

What do people think from here? Retracement, consolidation or a new uptrend forming?

[Dr_Who]

My feeling is that the momentum should carry it to $2 unless the oil price has a big drop overnight or there are problems at Tui.

[Crypto Crude]

its official. New Zealand Oil and Gas is Still the most undervalued Stock on the NZX...
Bar Nothing...
Im real happy for you lot...
This has been a dream of mine, and I dont even hold any...
Kupe will be bigger than Tui...
Now that you lot are all real rich, its time to come over and have a dabble in some spec Oilers....
later all...
:cool:
.^sc

[Casa del Energia]

Emailed from a good source:

The buying was what appears to be new, and increases to existing,
shareholders to the register.
(sic)
We suspect the buying that is new to the register is international
likely from Australia.

[friedegg]

theyre always stealing our stuff

[Mick100]

Emailed from a good source:


(sic)
We suspect the buying that is new to the register is international
likely from Australia.

that's where macdunk's got his funds parked up:rolleyes:

[trackers]

Emailed from a good source:

The buying was what appears to be new, and increases to existing,
shareholders to the register.
(sic)
We suspect the buying that is new to the register is international
likely from Australia.

Dunno about that, looks like there may be NZO arbitrage opportunities on the asx when it opens... we'll see

[777]

Looks like opening at about $1.37 in Aust. At .8 that is about NZ$1.71

[trackers]

Looks like opening at about $1.37 in Aust. At .8 that is about NZ$1.71

Right you are, stand corrected

[Corporate]

I have a feeling it won't be long before we get near $2.00!

[Gofish.]

Not a lot of depth to $2.00, and no sell orders beyond there.
I tried to put in a sell order at $4.00 but ASB wouldn't accept it.
Guess I'll have to wait for the Momoho result lol.

[bob.not.a.builder]

How long does it take to sell a order of shares through the internet?
I think I need to get some more in quick before I miss the train.

I do have some other funds tied up in a term deposit (due end of July) but not sure of the penalties / worth waiting.

[tim23]

Indeed, why did the people with the big money not buy cheap options and / or heads a couple of days ago?

They were, I think 11 million traded Monday alone.

[Grand Uber]

How long does it take to sell a order of shares through the internet?
I think I need to get some more in quick before I miss the train.

I do have some other funds tied up in a term deposit (due end of July) but not sure of the penalties / worth waiting.



They sell as soon as someone buys them, you see the money four days after, (day of trade plus 3 days to transfer funds to your bank account) or in the case of a buy t+3 to debit the money from your account

edit: i should note that is with direct broking through national bank

[upside_umop]

also depends who your broker is...

nzfc used to do it straight away..ie sell and the coin is in ur bank account straight away.

asb sec takes a few days like you say to become visible. but once u sell the funds are actually there and you can trade straight away with what you realised, even though its not visible.

not sure what its like trying to get it out from the bank straight after the trade.

[AMR]

How long does it take to sell a order of shares through the internet?
I think I need to get some more in quick before I miss the train.

I do have some other funds tied up in a term deposit (due end of July) but not sure of the penalties / worth waiting.

Sell your AIA and put it into NZO...

[digger]

Mine is 172 and is looking tooo low.
Hold it stop right there.As i write it is exactally 1-72 my comp number.Duncan you got any ideas how to stop this thing from rising further at least till after 30 th june. As you all know i stuck my neck out and offered 100dollar wine prize in Duncan's comp and it will be a 100 dollar saving if i actually win.The way NZO is going i will be toooo poor to honour my undertaking so might need a whip around to you rich long NZO holders that were too brain dead to sell at 1-00 to 1-10 when you had the chance.
A very good cheer to all

[Casa del Energia]

Dunno about that, looks like there may be NZO arbitrage opportunities on the asx when it opens... we'll see

Well, at first I doubted that. But there might have been a tinge of it after all - the price pressure has eased off. Mind you, I never 'got' arbitrage - - I get confused just standing in the Bureau de Change ('we by:, we sell:' always seems back-to-front somehow).- The jet lag doesn't help either.

[JBmurc]

Hold it stop right there.As i write it is exactally 1-72 my comp number.Duncan you got any ideas how to stop this thing from rising further at least till after 30 th june. As you all know i stuck my neck out and offered 100dollar wine prize in Duncan's comp and it will be a 100 dollar saving if i actually win.The way NZO is going i will be toooo poor to honour my undertaking so might need a whip around to you rich long NZO holders that were too brain dead to sell at 1-00 to 1-10 when you had the chance.
A very good cheer to all

If I new the brain dead seller who sold me his 77800 nzo at 1.02 I'd shout him a beer
Now if I myself hadn't been so brain dead in buying 50k worth of OGC I'd be holding 100,000+ NZO by now

[duncan macgregor]

Hold it stop right there.As i write it is exactally 1-72 my comp number.Duncan you got any ideas how to stop this thing from rising further at least till after 30 th june. As you all know i stuck my neck out and offered 100dollar wine prize in Duncan's comp and it will be a 100 dollar saving if i actually win.The way NZO is going i will be toooo poor to honour my undertaking so might need a whip around to you rich long NZO holders that were too brain dead to sell at 1-00 to 1-10 when you had the chance.
A very good cheer to all DIGGER, Sorry to pull you up mate but you and I are not allowed to win. Me for running it you for donating the prize. We must at least seem to be fair. Like my selection someone can second pick your number that is not already entered right up to closing time. Macdunk

[777]

You can't rule him out because he donated a prize surely.

This is a fun competition so I can't see why your entry doesn't count as well.

[trackers]

You can't rule him out because he donated a prize surely.

This is a fun competition so I can't see why your entry doesn't count as well.

After going on about how close he'd be for the last couple of weeks I think MacDunk has well and truly given up on his entry having any chance whatsoever!

NZO at 175c, the blue-eyed brigade are doing well today... More to come

[COLIN]

What I think is happening here is that Duncan has been a secret holder of NZO all along. He has been stringing us along and greatly enjoying the goading, while all the time he actually held heaps and heaps of NZO. What was in it for him? Well, he managed to ensure that the options price was depressed as exercise date drew near, thus enabling him to pick up further "heaps and heaps" at very depressed prices.
Congratulations, Bonnie Prince Charlie! A brilliant tactic. Enjoy your new-found wealth.
Cheers!

[wk6332]

Just seeing if there is any off market selling of the options anywhere befor they expire?
I have found myself with few more than I can exercise or is the only option the rubbish bin?

[bermuda]

How long does it take to sell a order of shares through the internet?
I think I need to get some more in quick before I miss the train.

I do have some other funds tied up in a term deposit (due end of July) but not sure of the penalties / worth waiting.
ith Directbroking I can sell an order and use the credit to buy, all within about 15 minutes. Sometimes faster.

[upside_umop]

sell down some of you other holdings?
ie if you sell nzo down at 175..and convert your ones you were to going throw away, you will make 25cps.

[777]

I am sure if you find a buyer you can do a share transfer form and they pay you for the options and they pay $1.50. You would need to hand both forms into the share register to be safe.

How many are we talking about? What is your sell price?

[digger]

Just seeing if there is any off market selling of the options anywhere befor they expire?
I have found myself with few more than I can exercise or is the only option the rubbish bin?


If you pull finger sell NZO before todays close and exercise those options.That way you end up with same number of heads and pocket the balance. You have 3 minutes to act.Go,go,go/

[srowe]

6307009 last option price was 2.5 i think

[friedegg]

its worth 25 cents today

[wk6332]

I am sure if you find a buyer you can do a share transfer form and they pay you for the options and they pay $1.50. You would need to hand both forms into the share register to be safe.

How many are we talking about? What is your sell price?

130,000+ depending on what I can find in my piggybank, looking to convert as many as I can
No other shares left to sell ( that I want to sell)

[wk6332]

6307009 last option price was 2.5 i think

They were going in the rubbish bin for that

[digger]

DIGGER, Sorry to pull you up mate but you and I are not allowed to win. Me for running it you for donating the prize. We must at least seem to be fair. Like my selection someone can second pick your number that is not already entered right up to closing time. Macdunk
Fair enough Duncan,but in truth your number was always too low and now mine is as well. At the moment it is 1-76 and by next monday i will also be well out of the running.If not and it is 1-72 we will give it to the next preson who picks 1-72. At this stage i did not know anyone else had picked my number. They can have it . Still i take your point and you and i should not win.

[friedegg]

im sure you could handle a big nzo party at your new house on your farm couldnt you digger,in the near future

[blockhead]

Just seeing if there is any off market selling of the options anywhere befor they expire?
I have found myself with few more than I can exercise or is the only option the rubbish bin?

Theres still a quid to be had here wk, how bout I find the dosh, we convert them and sell then go halves in the gain, don't know if I want 130k but maybe half them.

[digger]

130,000+ depending on what I can find in my piggybank, looking to convert as many as I can
No other shares left to sell ( that I want to sell)

I have just in the last two days completed a arrangement with the National Bank about arranging finance to convert all my options.During the last two weeks i have educated them about Peak Oil and believe me they were at square one before i started.Two weeks ago there was no way they were going to lend me money but after my peak Oil graphs from the OIL Bulliten and egergybulletin they saw the light.Two hours ago all arrangements were completed.Trust me they are a lot more informed about which way up is than they were two weeks ago.
Email me on cboreham@xtra.co.nz and i can give you some names for contact.

[bermuda]

im sure you could handle a big nzo party at your new house on your farm couldnt you digger,in the near future

Digger,
Seriously, this would be quite a show. If invited, I would definitely make the effort to attend. And you can show us all your dreams on the farm.

[777]

130,000+ depending on what I can find in my piggybank, looking to convert as many as I can
No other shares left to sell ( that I want to sell)

You need about $195,000 to exercise. The result will be $227,500 at the current price.

I am sure your bank will lend you the money for a week or so. The interest for that time will be not worth worrying about. Even borrowing money on your credit card is acceptable for this short time period. Once they are exercised and registered you can sell what you need to clear your debt and pocket $30,000 or so.

Where there is a will there is a way. Best of luck.

[digger]

im sure you could handle a big nzo party at your new house on your farm couldnt you digger,in the near future
Am planning to do something like that but at the moment the new house is only 85% completed and is surrounded by a sea of mud with the last weeks rain. Give me till next nov and things will be under control.

[friedegg]

not until nov 2009? ill have my own mansion by then hopefully

[spook]

Fair enough Duncan,but in truth your number was always too low and now mine is as well. At the moment it is 1-76 and by next monday i will also be well out of the running.If not and it is 1-72 we will give it to the next preson who picks 1-72. At this stage i did not know anyone else had picked my number. They can have it . Still i take your point and you and i should not win.


I thought I'd picked 1.72 first but if you're having a party!!!! Just keep it there and we'll race each other glass 4 glass :D

[digger]

Digger,
Seriously, this would be quite a show. If invited, I would definitely make the effort to attend. And you can show us all your dreams on the farm.
Your definitely at the top of any oil party list bermuda. We are planning to move on 22 August even if the toilet system isn't fully set up,which at the moment looks to be the last to get completed. The house is not mcMansion,it is only 270 square metres. Any bigger and it will be too much for Mrs Digger and i was forever consious who would have to do the extra cleaning.
It will have a lot to offer for a oil party as
1 the just about only conversation i now have has oil somewhere in it
2/Overlooks much of the Waikato
3/ Has and will continue to have one of the waikato's best small self power systems.Currently several others are getting modled after mine.Photo of our small self power system gone to Japan.
4/Will have one of the first electric cars once they are made and will power it from here.
Will get back on this subject but your name bermuda has in it the biggest problem of doing anything before next summer. That part of your name that has the mud in it.
I am sure looking forward to the future.
Cheers.

[spook]

Sorry Digger You're Actually $1.73 (i Just Checked Back)
We Can't Both Win!

[duncan macgregor]

[QUOTE=duncan macgregor;208325][QUOTE=duncan macgregor;207742][QUOTE=duncan macgregor;207051]Competition to select NZO share price on conversion date June 30th
in the event of a tie the winner is the person with the correct score posting first
I will list you in posting order.
1,AMR 180c, 2, OILER 165c, 3,Macdunk 159c. 4,MATTYROO 158c.
5,SEAMUS 135c, 6,SERPIE 131c, 7, LIZ 120c, 8, STRAT157c.
9TRACKERS 168, 10, COLIN 170, 11,THE MACHINE 210c. 12,MALCOLM 200c.
13,SPOOK 172, 14,BIG BOB184c, 15,ZORBA 155c, 16, REMY 167c,
17 AMERICAN PSYCHO 175c 18 SHASTA 161c, 19RONTHEPOM 171c 20 PHAEDRUS 160.
21SHREWDY 169, 22 BERMUDA 149, 23 MORV 183c, 24 COALIE 188c
25 DIGGER 173c, 26 blank, 27 NITA 181c, 28 SUMMER NED 193c.
29 QOH 179c, 30 WK6332 225c 31 BALANCE $10-60 32 KS 162,
33 TOK3N 145c, 34 SHANE M 162.5c, 35CORRAN 156c, 36 MICK100 300c.
37 DSURF 154c, 38 SKEET 185c,39 MIBO 177c, 40 JAY 162c,
41 ZACMAN 187c, 42 GAMBLER33 115c, 43 ANUBUS144c, 44 BRUCETO9 164c.
45 romer 163c.46 HOOP 147c 47 RABBI 148c 48 ROTWEILLER 153c,
49 MINGEATHINAIOOS 150c,50 MANXMAN 195c, 51 MACDUFFY 146c, 52 BLOCKHEAD 198c,
53 777 226c,54 SWISSBOY 174c,55 AIRDALE166,56 CLIPS 178c,
57 PADDIE 196c,58 FOODEE 176, 59 BK152c,60 MPC182c,
61 STEVE 151,62 ONTHEMONEY 143, 63 LION 186, 64,TIM23 189c,
65 BOB C 190 66 RIF RAF 191c 67, OUT TO LUNCH 194 68 SEHNSUCHT888 192c,
69 PIETRADE 220c,70 ZAC 197c, 71,CAM 245C,72, CHALICE 214c,
73 GLENDOONIE 142c 74,UPSIDE_UMOP 159c,

[coalie]

Roll on 188c...

[Jess9]

Well done Digger, enjoy the ride!

[digger]

Sorry Digger You're Actually $1.73 (i Just Checked Back)
We Can't Both Win!

Great,that makes it one cent closer to the winning number. So i am 1-73.Just shows you have often i check this comp. Has no meaning until the last day. The likely winner now will be in the 80's

[BigBob]

Great,that makes it one cent closer to the winning number. So i am 1-73.Just shows you have often i check this comp. Has no meaning until the last day. The likely winner now will be in the 80's

That'll be 184 as if there was ever any doubt... ;o)

[fish]

That'll be 184 as if there was ever any doubt... ;o)

Far too low-3 more days trading
Strong buying pressure going up at 10cents a day= $2.05

Price of oil is still going up and the nz dollar falling will help propel valuations up

Current theoretical daily return from Tui at 5500 barrels a day =nz $1,039,379 at current tapis price of us $143

SP is still looking very cheap

[airedale]

I have just in the last two days completed a arrangement with the National Bank about arranging finance to convert all my options.During the last two weeks i have educated them about Peak Oil and believe me they were at square one before i started.Two weeks ago there was no way they were going to lend me money but after my peak Oil graphs from the OIL Bulliten and egergybulletin they saw the light.Two hours ago all arrangements were completed.Trust me they are a lot more informed about which way up is than they were two weeks ago.
Email me on cboreham@xtra.co.nz and i can give you some names for contact.

Digger, 1,804 posts and this one is a gem.I smiled :):):) at the picture of you at the bank. The Morrinsville National Bank will at least be up to speed on Peak Oil......just a pity more of them weren't on to it.:D

[spook]

Far too low-3 more days trading
Strong buying pressure going up at 10cents a day= $2.05

Price of oil is still going up and the nz dollar falling will help propel valuations up

Current theoretical daily return from Tui at 5500 barrels a day =nz $1,039,379 at current tapis price of us $143

SP is still looking very cheap

Looks like my $1.72 makes me a loser Never knew I would be so happy to lose.
To reinforce comments posted in the last 2 days-DON'T SELL!- those of us who have leveraged to convert oppies might feel the pressure to make a quick buck, but if we HOLD the SP has at least another $1.00 in it.

Don't even sell off to reduce the leverage - resist the temptation - you will be rewarded!;)

[da puntzda]

Chaps,

Great to see NZO being unshackled in recent days, does anyone else think it peculiar that PPP is flatlining over the last month despite:

the sustained oil price
gradually easing NZD$
upgraded TUI reserves

Appreciate your wisdom

[Mr Tommy]

Chaps,

Great to see NZO being unshackled in recent days, does anyone else think it peculiar that PPP is flatlining over the last month despite:


Yep, PPP has a market cap of $188m
In the paper a couple of days ago it said NOGs share of Tui was worth $1 billion - it has 12.5%
PPP has 10% of Tui, so its share must be worth $800m
Doesnt make sense to me why its not double in price, plus it has Maitland gas field which they seem to have gone quiet on after saying results would be out in May.

For $188m PPP must be a bargain, maybe those converted options will see NOG take it over and increase its share of Tui to 22.5%

[Chalice]

Yep, PPP has a market cap of $188m
In the paper a couple of days ago it said NOGs share of Tui was worth $1 billion - it has 12.5%
PPP has 10% of Tui, so its share must be worth $800m
Doesnt make sense to me why its not double in price, plus it has Maitland gas field which they seem to have gone quiet on after saying results would be out in May.

For $188m PPP must be a bargain, maybe those converted options will see NOG take it over and increase its share of Tui to 22.5%

"To provide downside protection against any substantial fall in oil prices, PPP hedged by way of put options approximately 719,000 barrels of oil being 50% of the first three years budgeted production and 22% of its total share of reserves. This hedging ensures that Pan Pacific will receive a minimum price of USD$50 per barrel for up to 719,000 barrels even if the oil price drops below that level on the relevant dates. The Company partly offset the cost of these put options by selling call options which may require the Company to deliver no more than 187,600 barrels of oil (approximately 8% of expected production in 2007/2008) at USD$92.00 if the price of oil rises above that price."

Doesn't sound too bad but if you have a look at current Tapis price of circa 140 it equates to many millions. NZO did something similar, can't remember the specifics.

[Nitaa]

Chaps,

Great to see NZO being unshackled in recent days, does anyone else think it peculiar that PPP is flatlining over the last month despite:

the sustained oil price
gradually easing NZD$
upgraded TUI reserves

Appreciate your wisdomIts absolutely crazy. Foeget Maitland or anything else for that matter. PPP will catch up when someone with big pockets start doing some simple maths.

discl. hold for at least 6 months unless some clever person can buy this stock for less than $1

[Chalice]

Its absolutely crazy. Foeget Maitland or anything else for that matter. PPP will catch up when someone with big pockets start doing some simple maths.

discl. hold for at least 6 months unless some clever person can buy this stock for less than $1

Although they have some interesting informatiin on their website under "Tui Area Oil Fields" it may help their cause if, especially given the interest Tui is currently generating, they updated their figures i.e.recoverable reserves 32 mill, 07/08 production 10.7 mill. personally I find that bordering on negligent as their remit should be to maximise shareholder return. Plus I don't think there is a requirement to publish their hedging/call info given current prices.

[digger]

"To provide downside protection against any substantial fall in oil prices, PPP hedged by way of put options approximately 719,000 barrels of oil being 50% of the first three years budgeted production and 22% of its total share of reserves. This hedging ensures that Pan Pacific will receive a minimum price of USD$50 per barrel for up to 719,000 barrels even if the oil price drops below that level on the relevant dates. The Company partly offset the cost of these put options by selling call options which may require the Company to deliver no more than 187,600 barrels of oil (approximately 8% of expected production in 2007/2008) at USD$92.00 if the price of oil rises above that price."

Doesn't sound too bad but if you have a look at current Tapis price of circa 140 it equates to many millions. NZO did something similar, can't remember the specifics.

NZO and PPP both had to take out these options to satisfy leanding from the bank for development.In both cases it was a losing arrangment to have to be forced into.With PO both companies were always going to lose.Hopefully that will soon be all behind us and management now sees the folly of forward selling when PO is ruling the show.We no longer have to do this forward selling which is really selling forward at half the price while at the same time carring all the future costs.For NZO this forward selling is the only real mistake made in the last year.

[Chalice]

NZO and PPP both had to take out these options to satisfy leanding from the bank for development.In both cases it was a losing arrangment to have to be forced into.With PO both companies were always going to lose.Hopefully that will soon be all behind us and management now sees the folly of forward selling when PO is ruling the show.We no longer have to do this forward selling which is really selling forward at half the price while at the same time carring all the future costs.For NZO this forward selling is the only real mistake made in the last year.

Thanks Digger - do you have NZO's PO details?

[Nitaa]

Although this is an nzo thread, to give you my position on ppp is..its a cash cow that has a limited future. TR is setting up his retirement...sorry tr fans its just i see him past his expired date. However i made my decision to invest into ppp when buying the options cheap last year. My decision to buy definately wasnt based on the personal that they have. Digger is correct on the forward selling etc. Personally i HATE hedging currencies, future prices etc as i see it nothing more than taking insurance on top of insurance. The only time you would do it is if you had no option or if a substantial risk was there that would put the company in jeorpady. I didnt see the risk and only saw requirements to forfill financing arrangements.

Back to nzo. In short... without any unforseen circumstances nzo could hit $2.00 - $2.10 in the next 10 days only to retreat to around $1.75 - $1.80 over the following 2 weeks.

[Mr Tommy]

re PPP, it seems like they are almost purposely keeping low profile, just the bare minimum releases. Even the PPP thread on this site seems to be dead.

Just had a thought on NOG though, wouldnt it be funny if NOG was buying its own shares yesterday, to push the price up and ensure everyone converts. And they wouldnt have to disclose it until next week after everyone had sent their cheques in.

[777]

re PPP, it seems like they are almost purposely keeping low profile, just the bare minimum releases. Even the PPP thread on this site seems to be dead.

Just had a thought on NOG though, wouldnt it be funny if NOG was buying its own shares yesterday, to push the price up and ensure everyone converts. And they wouldnt have to disclose it until next week after everyone had sent their cheques in.

Would they not be required to announce that in advance?

[trackers]

https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif
New Zealand Oil and Gas Limited - Announcements
https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif https://ost.asbbank.co.nz/images/dot.gif
NZO
26/06/2008
MINE

REL: 0913 HRS New Zealand Oil and Gas Limited

MINE: NZO: MOMOHO EXPLORATION WELL DISCLOSURE NOTICE

26 June 2008
MOMOHO EXPLORATION WELL DISCLOSURE NOTICE
New Zealand Oil & Gas Ltd (NZOG) advises that as at 2.00pm on 25 June, the
following operations have been completed on Momoho 1:
The 22 inch section was drilled to a final depth of 561m MDRT (measured depth
below rotary table).
The 18 5/8 inch casing has been run and cemented as programmed.
The blowout preventers have been installed and the 17 inch section is
currently being drilled at 1355m MDRT.
Over the coming week, the rig is expected to complete drilling the 17 inch
hole section and run the 13 3/8 inch casing.
Momoho is an exploration well 6 kms southeast of the Kupe central field, off
the coast of South Taranaki. Drilling began on 13 June 2008 and progress to
date is summarised as follows:
Well section: 36inch 22inch 17inch 12 1/4inch
8-1/2inch
Planned Depth: 170.5m 550m 1,830m 2,855m 3,142.5m
Actual Depth*: 180m 561m 1,355m
*Depths are cumulative and show total well depth measured below the rotary
table (MDRT).

The well is expected to take approximately 51 days to drill.

ENDS.

Attachment: Graphic depiction of drilling progress.

Partners in the Kupe permit PML38146 are:
Origin Energy Limited (through its subsidiary Origin
Energy Resources (Kupe) Limited)
50% (Operator)
Genesis Energy (through wholly owned subsidiaries)
31%
New Zealand Oil & Gas Limited (through wholly owned subsidiaries)
15%
Mitsui E&P Australia Pty Ltd
4%

FOR FURTHER INFORMATION PLEASE CONTACT:
Chris Roberts
Public Affairs Manager
NZOG
Telephone: (04) 495 2424 Toll free 0800 000 594

NZOG stock symbols: NZX shares - NZO options - NZOOD
ASX shares - NZO options - NZOO

Weeks
Drilled 36" hole to 180m
Drilled 22" hole to 561m
Current drilling: 17" hole
Reservoir Target


Steady as she goes.. As an aside, Friedegg might recognise a familiar name in there...

[digger]

Thanks Digger - do you have NZO's PO details?
You might misunderstand what PO short hand is for .It is Peak oil.As NZO is just a NZ company they certainly have no control over the world oil looming shortage,so i do not understand what you mean by NZO PO details.

[Chalice]

You might misunderstand what PO short hand is for .It is Peak oil.As NZO is just a NZ company they certainly have no control over the world oil looming shortage,so i do not understand what you mean by NZO PO details.

G'day - thought PO was your shorthand for Put Option!

[digger]

Just seeing if there is any off market selling of the options anywhere befor they expire?
I have found myself with few more than I can exercise or is the only option the rubbish bin?

I have been thinking about this one since you raised the point.My conclusion is that it is a hugh can of worms.
Firstly if you were a bush laywer like myself you could argue that you are entitled to off market sell these options to a buyer.The buyer would then submit the exercise monies before the close of 30 june and eaisly have a case that the shares belong to him.Now the real reason why option trading ceases before the exercise date is to give the logistic mightmare of sorting out who owns what a time to sort intself out.
Options trading ceasing on monday 23 I would argue is a misrepresentation of what you in court could claim it to be. It really means that NZO through the stock exchange will no longer monitor who owns what after that date.If you can sell or find a buyer i personally believe that buyer could claim ownership of the new shares if all the normal requirements are met. Now the hugh can of worms is this. The first sellers are likely to have real options and can and will deliver to the buyer.After that the slippery people quickly pick up on it and with no monoriting the buyers pays out for options that do not in fact exist.
I believe there is a case to due what i have outlined but the buyer will have to do all there own research that the seller really does have these surplus options.
While this sort of thing suits the bush Lawyer type i will not be taking it up as i am fully committed.Such an arrangement would be best between two people who know and can trust each other.
I should think that nationally and internationally NZO would be flattered if it took a court case to sort out if this new buyer was entitled to these very vavaluable shares.
Over to others for comment.

[digger]

What a dummy i am??? My broker from hamilton just rung up and i asked him. He said yes you can and and it is no big deal,but it does complicate things and drags out the processing of applications but it is still legal as long as all the normal requirements are met.
What a dummy i should have asked it the first place. When all else fails read instructions.
Foryth Barr in Hamilton is happy to handle the details.See Roger.

[COLIN]

Just had a thought on NOG though, wouldnt it be funny if NOG was buying its own shares yesterday, to push the price up and ensure everyone converts. And they wouldnt have to disclose it until next week after everyone had sent their cheques in.

Prior shareholder approval required.

[cazzer]

Just seeing if there is any off market selling of the options anywhere befor they expire?
I have found myself with few more than I can exercise or is the only option the rubbish bin?

How many do you want to sell and at what price?

[777]

How many do you want to sell and at what price?


Further down thread he stated 130,000+

[blockhead]

Think he must be down the bank giving them the Digger education line on Peak Oil, NOG, Pike, Kupe, Momoho etc, could be a while before he is back at his computer and buy then the bank will have fronted with the cash and he won't have any options left for sale !!

[777]

Think he must be down the bank giving them the Digger education line on Peak Oil, NOG, Pike, Kupe, Momoho etc, could be a while before he is back at his computer and buy then the bank will have fronted with the cash and he won't have any options left for sale !!


I hope he gets to take them up even if he sells them shortly afterwards.

[Chalice]

I hope he gets to take them up even if he sells them shortly afterwards.

Good to see PRC up 12 cents today as every 3 cent increase now (about 4.5 cents after option excise) adds about a cent/share to NZO.

[Chalice]

I hope he gets to take them up even if he sells them shortly afterwards.

Leverage Finance will do it at just over 11% finance with a third down, even if you have no head shares - must be quick though.

[trackers]

Profit takers out in force today, was expecting this but not so early.... Some people give up their shares too easy *frown*

[777]

Profit takers out in force today, was expecting this but not so early.... Some people give up their shares too easy *frown*

Perhaps to buy some PRC???

[Grand Uber]

Just people looking to make a quick buck on the conversion, gotta pay those loans they got back quick smart.

This could affect the share prices for a wee while as some people will hold out longer than others.

NZO is a long termer, i think we should just avoid looking at this share for the next month or two as it does its up and down whipsaw (in an underlying upward trend though)

[Dr_Who]

Profit takers out in force today, was expecting this but not so early.... Some people give up their shares too easy *frown*

Let it come down. A chance to add more to the portfolio for those that didnt get enough during the options exercise period.

[bermuda]

Just people looking to make a quick buck on the conversion, gotta pay those loans they got back quick smart.

This could affect the share prices for a wee while as some people will hold out longer than others.

NZO is a long termer, i think we should just avoid looking at this share for the next month or two as it does its up and down whipsaw (in an underlying upward trend though)

There will be some profit taking and then whammo. Momoho.

And then a lot of people will say. " I should never have sold." If Momoho comes in then watchout.

[tim23]

Now where are the nobles who were not going to exercise their options because of the dilution factor? Still being noble are we?
Oh and the great one bagging this options issue (ignoring the fact that they were issued some time back and though similar to a rights issue very different)

Gee the silence is wonderful.

[Grand Uber]

Yes, still a big "If"

As DS said it has the right address, and if it does hold texas gold then im sure there will be a fair few people wetting their pants with excitement

Most broker reports have written Mohomo off havent they? last one i read said 15% chance of success (how do they get that figure?).

[COLIN]

Late heavy selling would be those who needed cash to cover their option cheques which they will be delaying posting until the very last moment. Under the "T+3" rule today was the last day on which they could sell anything on the NZX, so that they would have the cash by next Tuesday when their options cheques will be presented (having been put in the post on late Monday).

[zorba]

Yes, still a big "If"

As DS said it has the right address, and if it does hold texas gold then im sure there will be a fair few people wetting their pants with excitement

Most broker reports have written Mohomo off havent they? last one i read said 15% chance of success (how do they get that figure?).

.

15% is about 1 in 6 or 1 in 7, which may be near the average strike rate for successful holes in the Taranaki Basin.

Drill holes to the north and south of Momoho-1 have encountered good flows of hydrocarbons, and they do have 3-D seismic over the whole area, so potentially the strike rate should be higher since they are drilling in a proven hydrocarbon system and the 3-D seismic should provide good structural understanding of the geological strata. Success probability should therefore be better than the average strike rate

But geological strata and structures can change rapidly over just a few kilometers, so maybe success rate is only 1 in 4 or 1 in 5.

Time will tell.

[wk6332]

Leverage Finance will do it at just over 11% finance with a third down, even if you have no head shares - must be quick though.

Chalice, it would be good if you could give a number to ring so I could try for finance.

If anyone is interested at buying them at a discount, reply or send me a private message.
The options are still good as they everwere, ( as long as they are in the $$$ ) the market where they normly trade is closed is the main difference.
Any deal done would be best done at COMPUTERSSHARE office in auckland, where it can be proven that I am still the holder and that they havent been sold, they can then be transfered and pegged into the new persons name ( ending all calm on them by me and comferming that the new holder has the right to exersize them)

[fish]

[QUOTE=COLIN;208983]Late heavy selling would be those who needed cash to cover their option cheques which they will be delaying posting until the very last moment.

very true
ASB nominees converted my options today-thru margin lending-gave me a shock when i saw i had somehow miscalculated the amounts so didnt have enough to convert all my remaining options .
Hence had to dump a lot of nzo shares in the last hour even though I knew it would destroy the price .Stupid to do such a miscalculation and be forced in such a position . Still have a few contact and telecom left but psychologically couldnt bare selling these at a loss even though their long term prospects are not as good as nzo.
Anyway its all done now and will move on .
Posted a cheque for 1/2 my remaining options tonight and will post another at 4pm on monday.
Hopefully the money from my last minute trading will be paid and put into my cheque account by tuesday when the cheque will probably be presented

[tim23]

Gee how many ordinary shares did you own to destroy the price?!

[Corporate]

PRC now worth approximately $192 million to NZO. Thats 43% of NZO current market Cap.

Maybe I'll buy some more NZO if there's further weakness.

What do people think NZO will do with Pike going forward?

[fish]

Gee how many ordinary shares did you own to destroy the price?!

Wasnt just me selling Tim-a lot of shares appeared for sale around 4pm-over a million with buyers less than sellers and i had to move quick and sent the price tumbling-it was 175 at 3pm ,
Anyway hopefully thats everyone needing to sell to convert options out of the way.
With prc price jumping today
Momoho drilling going well
and exchange rate falling
if the market behaves logically we would see the sp resume its inevitable upward rise tomorrow

[Sehnsucht888]

LUnky I got in before you and the others knocked things back Fish.. I too was a tad short today and had to unload a couple of these today to able to convert the rest. With the price how it is, selling the the options prior to monday hasn't been a better deal in a very long time.

[Wilkins_Micawber]

[QUOTE=COLIN;208983]Late heavy selling would be those who needed cash to cover their option cheques which they will be delaying posting until the very last moment.

very true
ASB nominees converted my options today-thru margin lending-gave me a shock when i saw i had somehow miscalculated the amounts so didnt have enough to convert all my remaining options .


R u sure you miscalculated - my margin lending account was the same - prior to conversion of NZOOD the margin lending account balance did not (& still doesn't) allow for the NZOs you would own after conversion (as it is based on current shares in the portfolio). However, if ASB were doing the conversion for you knowing the NZOs would end up in their nominee a/c then they would have been able to allow for this when performing the NZOOD conversion. Not sure if I've explained it very well so hope you can follow my drift...

[Vince]

Just a note to members who follow this thread.

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!

Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.

Vince

[bermuda]

Just a note to members who follow this thread.

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!

Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.

Vince

Well my name is Bermuda. I retired because of this company.

And so much more to come.

[leecoker]

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.


This makes for some interesting discussion....anyone want to put there names forward? :)

[leecoker]

What do people think NZO will do with Pike going forward?

I think this was discussed quite awhile ago. However, I would welcome some more discussion....I think NZO said something along the lines that it's not in their long term interest and they want to focus on oil and gas...?? anyone else have any thoughts or info on this matter?

[Chalice]

Chalice, it would be good if you could give a number to ring so I could try for finance.

If anyone is interested at buying them at a discount, reply or send me a private message.
The options are still good as they everwere, ( as long as they are in the $$$ ) the market where they normly trade is closed is the main difference.
Any deal done would be best done at COMPUTERSSHARE office in auckland, where it can be proven that I am still the holder and that they havent been sold, they can then be transfered and pegged into the new persons name ( ending all calm on them by me and comferming that the new holder has the right to exersize them)

They are in the yellowpages - wellington - something I discovered today...no recommendations as don't need to use - but Mum does!

[Corporate]

Well my name is Bermuda. I retired because of this company.

And so much more to come.

Haha love it Bermuda! I hope to be saying that one day about one company or another!


Oh and I have no connection with NZO, accept for my shareholding.

[Corporate]

I think this was discussed quite awhile ago. However, I would welcome some more discussion....I think NZO said something along the lines that it's not in their long term interest and they want to focus on oil and gas...?? anyone else have any thoughts or info on this matter?

Yeah things have changed a little since it was discussed previously! I would like to see PRC distributed to shareholders rather than sold off. If that is there intention.

[duncan macgregor]

Just a note to members who follow this thread.

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!

Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.

VinceBEING OF SOUND MIND I DEFINATELY AM NOT A BROKER. Macdunk

[fish]

Well my name is Bermuda. I retired because of this company.

And so much more to come.


That says so much !
Thanks again for your brilliant posts and advice . They have all revealed your absolute integrity and interest in the financial well-being of other posters .

[fish]

BEING OF SOUND MIND I DEFINATELY AM NOT A BROKER. Macdunk

I have my doubts about that statement-the first part
You seem to post statements that may could be designed to mislead whilst not posting whether you have a conflict of interest-why do you keep posting on nzo -why are all your posts negative-?have you been accumulating whilst telling people to sell .

disclosure-I want every small investor to put all they can spare into this company and enjoy the ride. Have sold most of my other shareholdings and mortgaged property to buy options/heads . Am a long-term holder and expect to be still holding most of my nzo in 10 years time . Definately not in the finance industry .

[Awamoa]

I posted my conversion cheque on Monday and so far it has not been presented.
Are others in the same position?

[clips]

sent my cheque last friday and it has been banked.....

[777]

I posted my conversion cheque on Monday and so far it has not been presented.
Are others in the same position?


My money is still in the bank earning 8% interest.

[digger]

Well my name is Bermuda. I retired because of this company.

And so much more to come.

Yea great bermuda. Never let money rule you.Retiring just because you can is an excellent example of how money can rule you. Retiring is boring and leads to a slow brain death from disuse.Stay in the thick of it and always keep climbing for the pure joy of it.
Bermuda you have brought up a good topic here even if untentionally. Pike and NZO could well make a lot of investers here rich enough to retire,but do not get sucked in. Take a holiday and get back into it,never give up regardless of how wealthy you get.Life is just more fun in the saddle.Also the very people who are smart enough to invest in these winners are the sorts of people that the rest of society will need to show then the way out of the hole they are digging themselves into.Even i seem to be waiking up a few individuals lately--or at least they have been forced to stop thinking i am an idiot.

[777]

Just a note to members who follow this thread.

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!

Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.

Vince

Vince I can only identify one such person and that is Chrisr. He made it clear who he was from his first post. It would be a shame for him and the likes to have identify themselves on every post. He helps keep the thread under some control to some extent when some posters get a little carried away( being polite here).

These forums a relatively PC free and that is probably why they are so successful.

[fish]

27/6 OIL SET RECORD on nymex over nite $ 140.90 barrell light sweet crude- tapis may end up next 48 hours us$146 plus reason -----yanks us$$$$$$ plunge dow down over 290 points might shake our share mkt to day--- cheers---:):)

Interesting listening to the tv business news this morning-the brokers are starting to wake up to the fact that the rise in the price oil is not just a short -term spike fuelled by speculation but a long -term step up . There is a fundamental change in the balance of supply and demand and the price of oil has further rises ahead .





t

[bermuda]

Yea great bermuda. Never let money rule you.Retiring just because you can is an excellent example of how money can rule you. Retiring is boring and leads to a slow brain death from disuse.Stay in the thick of it and always keep climbing for the pure joy of it.
Bermuda you have brought up a good topic here even if untentionally. Pike and NZO could well make a lot of investers here rich enough to retire,but do not get sucked in. Take a holiday and get back into it,never give up regardless of how wealthy you get.Life is just more fun in the saddle.Also the very people who are smart enough to invest in these winners are the sorts of people that the rest of society will need to show then the way out of the hole they are digging themselves into.Even i seem to be waiking up a few individuals lately--or at least they have been forced to stop thinking i am an idiot.

Hi Digger,

You have been in control of your life for ages. Work to you is a pleasure and good on you for enjoying it ..and for the wisdom you bring us.

I, on the other hand spent too many years being corporatised by BP. Now I am free and my brain is just exploding with uncluttered thoughts.

Learning every day and loving it. And every day I say to myself whatever dosh I make, it is going to my daughters to donate to their favourite charities. The youngest is studying Natural Medicine in Melbourne and when she was at Uni used to work at Trade Aid ...for nothing. The eldest is a physio and wanted to work in Africa for Corso. I would not let her.

They will know how to spend the money wisely.Believe me.

And so to me Digger, retirement is like being set free. We are all different. And I have never been so passionate about life ...in my life.

NZO/PRC ...set to perform brilliantly.

I trust fellow posters only hold oil ,gas, and coal stocks. Everything else will get butchered.

[Casa del Energia]

Just a note to members who follow this thread.

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!

Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.

Vince


Citizen ordinaire. Admin - don't let the URL I'm working from mislead you - I'm working through a proxy server.

[BigBob]

Yea great bermuda. Never let money rule you.Retiring just because you can is an excellent example of how money can rule you. Retiring is boring and leads to a slow brain death from disuse.Stay in the thick of it and always keep climbing for the pure joy of it.
Bermuda you have brought up a good topic here even if untentionally. Pike and NZO could well make a lot of investers here rich enough to retire,but do not get sucked in. Take a holiday and get back into it,never give up regardless of how wealthy you get.Life is just more fun in the saddle.Also the very people who are smart enough to invest in these winners are the sorts of people that the rest of society will need to show then the way out of the hole they are digging themselves into.Even i seem to be waiking up a few individuals lately--or at least they have been forced to stop thinking i am an idiot.

It's all down to how you define retirement....

My own definition of retirement is the point in time when I can work because I want to and not because I have to.... that's what I am aiming for.... and NZO is a step on the way...

[digger]

June 26 (Bloomberg) -- Crude oil jumped above $140 a barrel to a record as Libya threatened to cut output, OPEC's president said prices may reach $170 by the summer and the dollar weakened.

Libya may curb output because of a U.S. law that allows terror victims to seize assets of foreign governments as compensation. OPEC President Chakib Khelil said oil may surge on a European interest rate rise, France 24 reported. Oil, gold and copper climbed today as the dollar dropped because the Federal Reserve gave no signal of higher interest rates yesterday.

Arjay you still here,this one is for you. I remember some years ago you said when the crunch came the US would set up some way to takeout other counties oil assets. This looks a lot like a setup to me.What is a victim anyways. Eventually it will be if the average US drivers can not afford gas it is a plot and he is clearly a victim.Must take over someone elses oil field to put matters right and fair.

[Naylz]

Wasnt just me selling Tim-a lot of shares appeared for sale around 4pm-over a million with buyers less than sellers and i had to move quick and sent the price tumbling-it was 175 at 3pm ,
Anyway hopefully thats everyone needing to sell to convert options out of the way.
With prc price jumping today
Momoho drilling going well
and exchange rate falling
if the market behaves logically we would see the sp resume its inevitable upward rise tomorrow

HI Fish

I had a long talk with ASB margin lending before and had enough funds in the account to convert the options. They did say not to worry about how the margin account looked over the next few days, It would all be sorted by Tuesday or Wednesday. Certainly scary when you look at the big OD but they will take into account the equity in NZO.

[digger]

Just a note to members who follow this thread.

There are a couple of members who have posted on this thread who should be clearly identifying who they are, and who they work for, to avoid any confusion or misdirection to any readers.
Should those members in question refrain from doing so, - they will be removed from this site!

Members are reminded to familiarize them selfs with the Terms & Conditions of Sharetrader, and if they are unsure of something to seek advice from their financial adviser or other suitable professional.

Vince

Computer is playing up and will not after several tries quote this properly.
Vince,i have been aware for some time that this site can easily be infiltated. It clearly was some months ago when i posted my thoughts against forward selling of NZO and PPP oil. One of the replys in favor of using forward selling was plainly an advertisment pointing out the benifits and the responsibility of doing so.That writer plainly had an invested interest in furthering NZO and PPP continued comittiment in that direction.That interest was purely a self interest corp sell that was that was not concerned with the economic damage forward selling would do and very much in fact did do. This drawing the line as to where self interest must stop compared to sharchat general discussion is now very timely. We are all here individual investers but out self interest must be as we achieve it through the company growth and not a hidden sell.
For meaniful continued discussion here on sharetrader we need a structural setup where posters infiltrating to push there wares are removed .Good move and it is plain that i fully agree with the identification of individuals if necessary.

[pietrade]

The ONLY blue arrow on the NZX is for NZO. I'm sure PRC would be there too if it was included. Yeeha a a a ! - and has anyone else noticed that the price of oil/barrel is not now included in the Radio NZ business news !!?? Not wanting to scare the horses ??