NZ Oil & Gas (NZO)

[BigBob]

A dry well doesn't impact so much though and there wasn't much of a selldown after the OXX announcement....


Fool NZO for spending 12.5 mil to get into this deal in the first place. Now that it is a duster, they fail to tell the the market even when OXX make a release to the market.


...maybe because it's not actually a dry well yet is it...? There is still about 800m to go to TD...

That said, I do wonder why they this week released the weekly update on Monday rather than the usual Tuesday, only to have to release again (and late at that)....

[arjay]

Good points BigBob - Spirit can you enlighten us as to what hope in the Farewell zone?

[BigBob]

what about the forgotten wells in indonesia?
one month off from one year anniversary of spudding and ..........
not even an explanation.
NZO even asked the regulators for "special" dispensation to withhold information.... one of the reasons was commercial sensitivity, the other one
was indo regulation....... and now we hear that the indo government has banned exports of raw minerals from foreign owned mines in its jurisdiction,
does this apply to oil wells also?
it seems management havent got a clue about anything...... or dont want to disclose.
but that is what you get when a "dictator" runs/rules an entity to their own fashion..... the minions are also clueless and when the "head"
leaves or is pushed then there is not much left........ except the shareholder funds..........
but dont worry, our regulators see no issues with NZO ...... so all is good.

On October 29 under the heading "What Now at Kiasaran" you'll find the following update....:

New Zealand Oil & Gas took a 22.5% interest in the Central
Sumatra Basin project to diversify its portfolio with onshore
projects that, compared to our New Zealand activity, have
a higher probability of success albeit with less potential return.
The most promising zone in the Parit Minyak-2 well flowed at
a rate of 200-400 barrels a day, proving a concept developed
from an earlier, 2006, oil discovery in Parit Minyak-1.
Geologists hoped to find a substantial reservoir up-dip in PM-3.
The main target concept in that well was found, however oil
appears to have passed through the area. A secondary zone
was discovered where gas and condensate were found.
Both wells have now been suspended while reservoir
engineers analyse drill stem tests.
To understand their calculation, imagine a garden hose
draining a pool. Engineers can adjust the size of the hose and
then use changes in the rate at which fluid comes out
of it to calculate the size of the pool and how long it would
take to empty.
If commercial these models will then be used to prepare a
preliminary plan of development. The economics of different
capital configurations need to be analysed to determine the
best way to market the resource. A smaller reserve might be
trucked out, while a larger one might use nearby pipelines.
The first phase of analysis and plan of development will each
take up to six months, and then must be negotiated with the
Indonesian regulator. If a positive final investment decision
were made, achieving production would likely take a year more.
Meanwhile exploration in Sumatra is continuing for the
company to the north in the Bohorok PSC, where plans are
being made to shoot seismic in the first half of 2014.

Six months from October 29 is April 29 - do you want daily releases in the meantime to say that they are still analysing and planning....?

[notie]

Good points BigBob - Spirit can you enlighten us as to what hope in the Farewell zone?

sweet FA is what the chance of the Farewell sands having oil in them

[Bella52]

On October 29 under the heading "What Now at Kiasaran" you'll find the following update....:

New Zealand Oil & Gas took a 22.5% interest in the Central
Sumatra Basin project to diversify its portfolio with onshore
projects that, compared to our New Zealand activity, have
a higher probability of success albeit with less potential return.
The most promising zone in the Parit Minyak-2 well flowed at
a rate of 200-400 barrels a day, proving a concept developed
from an earlier, 2006, oil discovery in Parit Minyak-1.
Geologists hoped to find a substantial reservoir up-dip in PM-3.
The main target concept in that well was found, however oil
appears to have passed through the area. A secondary zone
was discovered where gas and condensate were found.
Both wells have now been suspended while reservoir
engineers analyse drill stem tests.
To understand their calculation, imagine a garden hose
draining a pool. Engineers can adjust the size of the hose and
then use changes in the rate at which fluid comes out
of it to calculate the size of the pool and how long it would
take to empty.
If commercial these models will then be used to prepare a
preliminary plan of development. The economics of different
capital configurations need to be analysed to determine the
best way to market the resource. A smaller reserve might be
trucked out, while a larger one might use nearby pipelines.
The first phase of analysis and plan of development will each
take up to six months, and then must be negotiated with the
Indonesian regulator. If a positive final investment decision
were made, achieving production would likely take a year more.
Meanwhile exploration in Sumatra is continuing for the
company to the north in the Bohorok PSC, where plans are
being made to shoot seismic in the first half of 2014.

Six months from October 29 is April 29 - do you want daily releases in the meantime to say that they are still analysing and planning....?


Big Bob, you must be the only person on the thread who actually reads the guff put out by NZO

[spirit]

Arjay, this whole play is predicated on the existence of a mature kitchen nearby. If in fact we do have that kitchen then surely there must be some good oil shows coming up once we get below the North Cape Shale. Pre-drill the major risk with the F sand [to my understanding] was whether the North Cape Shale had prevented migration into the structure, so for the moment anyway that idea is still in play.

[neopoleII]

""On October 29 under the heading "What Now at Kiasaran" you'll find the following update....:""
thanks Bigbob...... I have never seen that update....... very interesting.
I use direct broking and I cant see that article on their site..... maybe I'm blind but my last update was 21 October mentioning preparing for suspension.
Where did you see it?

[BigBob]

""On October 29 under the heading "What Now at Kiasaran" you'll find the following update....:""
thanks Bigbob...... I have never seen that update....... very interesting.
I use direct broking and I cant see that article on their site..... maybe I'm blind but my last update was 21 October mentioning preparing for suspension.
Where did you see it?

It is from the quarterly activities report....

Try this link... :

https://nzx.com/companies/NZO/announcements/242950

[ziggy415]

i see omv have done 3d in another area of permit 51906 (matuku is further north) announced only on oxx by the way and calling it kaka but it encomposes a zone called kakapo which was name of permit nzo dropped when they estimated 200 mill. barrels...have emailed nzog to get the goss but am still waiting

[Balance]

No buyers and sp down to 75c.

Shoot - what's happening here?

Announcement of major downgrade in Tui or Kupe in the offing?

Indonesia has blown up?

Something is not right.

[fabs]

i can think of 160 million reasons why it won't freefall.

just give me one????

[J R Ewing]

The share price has dropped 6c immediately prior to the trading halt! Sounds like bad news that has leaked prior to the announcement.

[Balance]

...maybe because it's not actually a dry well yet is it...? There is still about 800m to go to TD...

That said, I do wonder why they this week released the weekly update on Monday rather than the usual Tuesday, only to have to release again (and late at that)....

Well, you can stop wondering.

The well is abandoned and OXX made the announcement at 12.20pm.

NZOG advised the market on 12.44 pm - 24 minutes later.

What a sham.

A freaking disgrace.

An absolute travesty of the NZX continuous disclosure regime but don't expect any Nogger to complain - they have been too well trained.

[Balance]

Waiting now for long time Nogger of note, Digger, to respond as he usually does to any comment which is remotely negative on his pet stock, NZOG.

There has to be a very good reason why NZOG is late telling the market about a dry well.

Karma, Digger - means this company will not be successful.

[BigBob]

A freaking disgrace.

An absolute travesty of the NZX continuous disclosure regime but don't expect any Nogger to complain - they have been too well trained.

I can't really disagree with you on that one Balance....

[Balance]

I can't really disagree with you on that one Balance....


Put this one down to NZX not doing its job either.

[J R Ewing]

OK, so I guess we have all read the NZO announcement, which is now repeated by OXX on the ASX site. But in the earlier OXX announcement today, OXX said that SINCE the announcement on the 14th the drill has now penetrated the upper part of the lowest sands and found them to be water bearing. Oil being lighter would be at the top of the formation, so there is no chance of a strike while we complete to target depth - which we are now doing in order to build a geological picture - not to discover oil. That info has a ring of truth, is definitely price sensitive and seems at odds with the NZO "nothing new has come to light" line!!

[digger]

All I can say is another one bites the dust. But we do have to keep searching. Personally I only ever give these wells a 1 in 10 chance of success regardless of what the predrill hype.
On to oi

[fabs]

We have witnessed lack of direction and expertise in O & G exploration but surprising strength in SPIN,
Seems now with the absence of T/R, Management devoid of any expertise in that department either totally dead in the water.
CEO probably looking to plan an exit like his predecessor, had a good run on the trough with nothing to show for.
Cant be long surly.

[Casino]

just give me one????

Maybe we need to agree on the definition of freefall. To me it's a drop >30%. I don't see it happen for a profitable company that has 50c for every dollar of market cap at hand.

[arjay]

The comment by Andrew Knight was a bit odd IMO - paraphrased: 'it's not surprising we didn't find anything because in this business it's not common to find anything'. Actually, we're coming up for the 10th anniversary of NZO finding it's last commercial discovery (at Pateke). Party?

[Balance]

All I can say is another one bites the dust. But we do have to keep searching. Personally I only ever give these wells a 1 in 10 chance of success regardless of what the predrill hype.
On to oi

Disclosure standard okay with you then, Digger?

Karma means NZOG is doomed to dry wells.

[biker]

Two possible solutions.
ALWAYS check and rely on OXX announcements when it comes to NOG. The company and the NZX are obviously pretty incompetent in this regard.

OR
Make an official complaint.

Disc. Hold token shares in memory of times past.

[ziggy415]

Until driling is complete and testing analysed, geologists have not formed a
complete view about the well or the implications for the play type in the
Kahurangi trough, which was thought to be a source kitchen for a success case
at Matuku...............not sure what that means

......the trading halt was implemented because share price dropped when no oil shows were found but the share price tanked more when trading halt was announced...would have been better to have said nothing or leave it up to oxx, they seem better at info

[ziggy415]

We have witnessed lack of direction and expertise in O & G exploration but surprising strength in SPIN,
Seems now with the absence of T/R, Management devoid of any expertise in that department either totally dead in the water.
CEO probably looking to plan an exit like his predecessor, had a good run on the trough with nothing to show for.
Cant be long surly.

lets not forget that omv, a multi national company also got it wrong.......permit 51906 is a biggy so maybe next hole will be better.....(damn me an the glass half full) lol

[Tyro]

Please does any know how much dividend to expect, and when?

[Casino]

Please does any know how much dividend to expect, and when?

Try this site for long answer to your question:

http://www.dividendyield.co.nz/viewdetails.php?id=81

[arjay]

I'd say 7-8 c considering NZO now owns more of the Tui project than they did in the past. Maybe 4c paid in each of March and September.

[Monkey Poms]

Please does any know how much dividend to expect, and when?

NZOG. Now earn around NZ$183.232 per day from the Tui field holding 27.5% against NZ$83.287 per day when the holding was 12.5%.
Back of an envelope calculation. Room for a rise in the dividend ?.

Monkey Poms.

[dsurf]

NZOG. Now earn around NZ$183.232 per day from the Tui field holding 27.5% against NZ$83.287 per day when the holding was 12.5%.
Back of an envelope calculation. Room for a rise in the dividend ?.

Monkey Poms.

Yes for a year or two. The BIG problem with NZO is they have not replaced the reserves from TUI over the last 6 or so squandered years which included the best buying period for decades when NZO were hugely cash rich in the middle of a "liquidity crisis". Why they did not buy reserves then is one of lifes great mysteries. Instead they doubled down (or was it tripled down via PPP) on TUI. Not very good diversification. Management spend too much time talking to brokers. Focused only on their options. Worked for the first couple but short term focus means long term bleeding. Glad I no longer hold. Too much effort.

[arjay]

Past is past. Moving forward, the increased ownership of Tui and existing Kupe stake will maintain a very good return on the existing SP for a few years. Let's hope the next couple of low-risk wells will boost reserves and maybe some revenue will come out of Indonesia after all. But, yes - we need to get on and find new reserves.

[digger]

Past is past. Moving forward, the increased ownership of Tui and existing Kupe stake will maintain a very good return on the existing SP for a few years. Let's hope the next couple of low-risk wells will boost reserves and maybe some revenue will come out of Indonesia after all. But, yes - we need to get on and find new reserves.

Your on to it Arjay. Kupe is also very likely to get an upgrade in the next year or so and to keep the positive mood flowing I would not be surprise if the TUI downgrade that took place a year ago was found to be overdone.
But yes I do agree that we need to keep with the plan to drill at least two or three wells per year,as well as the dividend.The company is also in good financial shape for at least the next 6 years.
The next drill is OI and that is the one I am most hoping for as I have a large holding in both NZO and PPP,so to me greed is a lovely thing and am very much looking forward to that drill. It will be Balance laugh if that one comes up dry,and if it is a winner Balance will be nowhere to be seen,heard of, or in any way contactable.
I would also like to see us retake up Kakapo and drill it.

[Balance]

Your on to it Arjay. Kupe is also very likely to get an upgrade in the next year or so and to keep the positive mood flowing I would not be surprise if the TUI downgrade that took place a year ago was found to be overdone.
But yes I do agree that we need to keep with the plan to drill at least two or three wells per year,as well as the dividend.The company is also in good financial shape for at least the next 6 years.
The next drill is OI and that is the one I am most hoping for as I have a large holding in both NZO and PPP,so to me greed is a lovely thing and am very much looking forward to that drill. It will be Balance laugh if that one comes up dry,and if it is a winner Balance will be nowhere to be seen,heard of, or in any way contactable.
I would also like to see us retake up Kakapo and drill it.

You mean like the whole Board of NZOG going into hiding when Pike River Coal blew up?

Karma means dry holes only for NZOG until all of its reserves are gone.

[Balance]

Past is past. Moving forward, the increased ownership of Tui and existing Kupe stake will maintain a very good return on the existing SP for a few years. Let's hope the next couple of low-risk wells will boost reserves and maybe some revenue will come out of Indonesia after all. But, yes - we need to get on and find new reserves.

Past is present.

Nothing shows that more than the clumsy PR exercise by NZOG to cover up its failure to keep shareholders and market informed and abreast with its Matuku dry well.

OXX advised on 16 January "On-going operations are to drill ahead to the programmed total depth of 4750m MDRT and
then plug and abandon the well as planned."

NZOG was late reporting but now wants the market to believe they will use the data to scout the area further! Noggers of course will lap that one up but NZOG still thinks it can fool all of the people all of the time.

Sorry - NZOG - you have lost the plot.

:D

[Casino]

Past is present.

Nothing shows that more than the clumsy PR exercise by NZOG to cover up its failure to keep shareholders and market informed and abreast with its Matuku dry well.

OXX advised on 16 January "On-going operations are to drill ahead to the programmed total depth of 4750m MDRT and
then plug and abandon the well as planned."

NZOG was late reporting but now wants the market to believe they will use the data to scout the area further! Noggers of course will lap that one up but NZOG still thinks it can fool all of the people all of the time.

Sorry - NZOG - you have lost the plot.

:D

Let's discuss this constructively. If Matuku is indeed dry and void of oil, what is it that fed the Tui reservoirs?

[arjay]

if it is a winner Balance will be nowhere .

Ah, Digger - you said the name of 'he whose name must not be mentioned'. You rubbed the lamp and the genie came out.

[whatsup]

Let's discuss this constructively. If Matuku is indeed dry and void of oil, what is it that fed the Tui reservoirs?

That is the 64$,000,000 question and one that could be answered if they drill the 2nd hole.
When do they have to make that decision, possibly once the coring and wirelining is finished ?

[Casino]

That is the 64$,000,000 question and one that could be answered if they drill the 2nd hole.
When do they have to make that decision, possibly once the coring and wirelining is finished ?

My understanding is that Matuku-2 was conditional to success at Matuku-1? We should get an update and maybe some thoughts on the play type by tomorrow .

[Casino]

I completely missed the announcement this moring...

https://www.nzx.com/companies/NZO/announcements/246201

[brucey09]

Snr. Casino
Makutu 1 was for free drilling for NZO. Yes?

[Casino]

Snr. Casino
Makutu 1 was for free drilling for NZO. Yes?

I think so. NZO only payed for participating in the permit (12.5 million). NZO would pay for OXX's share for Matuku-2 in exchange for further 5% but I'm not sure whether that's going to happen.

[blockhead]

What do the ''experts'' make of this ?

''The primary target in the Matuku well, the Kapuni Group Farewell F Sands, were found to be porous but there were no significant gas or oil shows.

Oil shows were seen in D Sands and North Cape Formation units deeper in the well, it added.''

[notie]

What do the ''experts'' make of this ?

''The primary target in the Matuku well, the Kapuni Group Farewell F Sands, were found to be porous but there were no significant gas or oil shows.

Oil shows were seen in D Sands and North Cape Formation units deeper in the well, it added.''

The well was dry, ie. there is no oil there apart from very minor indications. They will not drill Matuku-2
The whole idea that there might be oil coming from the west is now in tatters. NZOG blew a lot of money to get in on this 'sure thing' and the big boys in this, OMV are pretty foolish too

[blockhead]

So why bother even mentioning the fact there were ''oil shows'' deep in the well, seems similar to the garage mechanic telling you ''the dipstick in your car was moist Trev but sorry, the bearings are still run''

[Casino]

The well was dry, ie. there is no oil there apart from very minor indications. They will not drill Matuku-2
The whole idea that there might be oil coming from the west is now in tatters. NZOG blew a lot of money to get in on this 'sure thing' and the big boys in this, OMV are pretty foolish too

A setback at Matuku doesn't render pep 51906 worthless. It heralds bad news for pep 53537. OXX is as it is under great financial pressure which can be leveraged against them in negotiating other prospects such as pep 53473.

First, we need to wait for confirmation that there is no kitchen within the Kahurangi Trough. So let them finish their 'dipstick' thing because it's rather important.

[Casino]

A bit of info towards the end of the page

http://www.octanex.com.au/projects.html

[fabs]

A bit of info towards the end of the page

http://www.octanex.com.au/projects.html

Excellent stuff, just the sort of details refreshing ones memory what to expect.
Would also be interesting to find out how long the likes of G.Ward T/R D/S and any of the others still enjoying there millions and good life before there KARMIC Destiny catches up with them.
Hope my old Pal BALANCE will throw some specific's our way as soon as that happens.

[ziggy415]

would also like to see us retake up Kakapo and drill it....Digger part o f 51906 contains an area called Kakapo but emails to nzo as to whether this is same have gone unanswered...nzo may already be involved in kakapo with 3d done called kaka which covers kakapo

[ziggy415]

You mean like the whole Board of NZOG going into hiding when Pike River Coal blew up?

Karma means dry holes only for NZOG until all of its reserves are gone.
cant believe karma exists in 21st century when it comes to investments...thats bone thru the nose stuff dancing round a fire chanting...unless you meant karma sutra...no dry holes then

[Balance]

cant believe karma exists in 21st century when it comes to investments...thats bone thru the nose stuff dancing round a fire chanting...unless you meant karma sutra...no dry holes then

The story of the Kennedys will tell you that karma exists - the bad deeds of the forefathers being visited upon the children, until atonement is made.

Likewise, look at the scourge of drugs now on Western youth and society - as the Western powers forced opium onto Asia, now the trade is reverse.

Karma.

[Balance]

$12.5m down the gurgle - so much for NZOG's expertise at reading geo reports etc etc.

Might as well get a few well-fed chimpanzees to throw darts at a map of Taranaki! Will be cheaper and they do not need to fly around so much.

NZOG needs a good and total clean out before all rthe reserves are gone, and the company is back to issuing options to get cash from shareholders.

[digger]

Balance for CEO of NZO. Simple as that and all problems will be solved.

[fabs]

cant believe karma exists in 21st century when it comes to investments...thats bone thru the nose stuff dancing round a fire chanting...unless you meant karma sutra...no dry holes then

No such thing as Karma sutra ziggy, its KAMASUTRA but like your wet sense of humor.

[Balance]

Balance for CEO of NZO. Simple as that and all problems will be solved.

NZOG cannot afford me, Digger.

A well fed chimpanzee from the Auckland zoo throwing darts at a map of Taranaki will do a better job than NZOG has in the last 10 years in finding an oil well. Cheaper too.

But then, a chimpanzee cannot spin like NZOG and keep shareholders contented like you?

[ziggy415]

NZOG cannot afford me, Digger.

A well fed chimpanzee from the Auckland zoo throwing darts at a map of Taranaki will do a better job than NZOG has in the last 10 years in finding an oil well. Cheaper too.

But then, a chimpanzee cannot spin like NZOG and keep shareholders contented like you?

a little unsure here balance...are u saying your the well fed chimp from auckland zoo...ha ha

[Bella52]

The well was dry, ie. there is no oil there apart from very minor indications. They will not drill Matuku-2
The whole idea that there might be oil coming from the west is now in tatters. NZOG blew a lot of money to get in on this 'sure thing' and the big boys in this, OMV are pretty foolish too

Notie; where did they say this was a 'sure thing'?

[arjay]

I suspect all those dry holes are God's punishment to NOGers for putting up with Balance and Notie.

[Balance]

I suspect all those dry holes are God's punishment to NOGers for putting up with Balance and Notie.

Don't be envious, Arjay.

Move over from the shade (mushroom territory) and into the sunlight.

You will be amazed at how clear things actually are when it comes to NZOG and Noggers.

Raise over $200m and blew it on Pike River.

Funds coming in from Tui and Kupe (as reserves are rapidly running down) are dissipating into dry holes, misadventures overseas and executives benefits and perks.

Remember this?

"During NZOG's search for suitable overseas opportunities, our attention has returned repeatedly to XYZ due to its combination of good prospectivity, established exploration and production activity levels, reasonable fiscal terms, and relative ease of doing business."

But wait, there is more :

"It is a very productive region and adds diversity to NZOG's exploration portfolio through access to lower risk opportunities."

Lower risk? Oops - $6m down the dunny in Tunisia but the company would tell you they spent that money ever so carefully. Executives travelled business class rather than first class, and trips to Tunisia were done in conjunction with holiday trips to Europe. Oops - slip there, not holiday trips but trips. :D

[Goldstein]

A reasonable strategy for NZO might be do buy upon news of a dry well, then sell 95% of your stock just before next well is spudded.

Anybody been doing this?

BTW Balance, it is OK for an oil exploration company to spend money on oil exploration. Also I think NZO are trying to pique investor interest in Europe/UK. I'm not having a go - just presenting another opinion.

Disc: Don't own any.

[J R Ewing]

A reasonable strategy for NZO might be do buy upon news of a dry well, then sell 95% of your stock just before next well is spudded.

Anybody been doing this?

BTW Balance, it is OK for an oil exploration company to spend money on oil exploration. Also I think NZO are trying to pique investor interest in Europe/UK. I'm not having a go - just presenting another opinion.

Disc: Don't own any.

That's close to a tried and tested method of investing in oilers. The theory is to buy into the new wild cats on listing and sell for a modest profit just before or during drilling, before they hit water.

[Casino]

A reasonable strategy for NZO might be do buy upon news of a dry well, then sell 95% of your stock just before next well is spudded.

Anybody been doing this?

BTW Balance, it is OK for an oil exploration company to spend money on oil exploration. Also I think NZO are trying to pique investor interest in Europe/UK. I'm not having a go - just presenting another opinion.

Disc: Don't own any.

I see where you're coming from and it makes sense for risky plays without producing assets such as OXX. With NZO you have a 160 million, 15% in PPP and 8% dividend yield downside cushion.

[zigzag]

Notie; where did they say this was a 'sure thing'?

yeah. Come on notie. Provide us with a bibliography. Name your source, or stop making up stories!

[zigzag]

Also, interesting to see that PPP has spent about 1 mill. acquiring just under 1% of Otto. I hold both OEL and NZO.

[Balance]

yeah. Come on notie. Provide us with a bibliography. Name your source, or stop making up stories!

Guess who wrote this : "So every 17 years NZO find the big one. Rejoice for we are getting better and I am confident this matuku will break the 17 year drought down to only 10 years."

http://www.headliner.co.nz/news/10705.html

"Chief Executive Andrew Knight says NZOG is stepping up exploration activity.

"PEP 51906 covers 1613 square kilometres. It's adjacent and west of the giant Maui field, north of the Maari field and south of the Tui field where NZOG's 12.5 per cent earned the company revenue of NZ$42 million in the last financial year. The operator has publicly estimated mean recoverable resource for the Matuku prospect at around 65 million barrels.

"These new acquisitions sit well within NZOG's New Zealand exploration portfolio, as they build on the knowledge base developed from NZOG's Taranaki history and provide exposure to the developing western fairway," Knight said."

[arjay]

A reasonable strategy for NZO might be do buy upon news of a dry well, then sell 95% of your stock just before next well is spudded.

Anybody been doing this?

BTW Balance, it is OK for an oil exploration company to spend money on oil exploration. Also I think NZO are trying to pique investor interest in Europe/UK. I'm not having a go - just presenting another opinion.

Disc: Don't own any.

It works only if the oiler is a failure. Worked with NZO up until Tui-1 was drilled. Punters never got back in after that. Risk is low for Oi, so I would not follow that strategy this time.

[zigzag]

Guess who wrote this : "So every 17 years NZO find the big one. Rejoice for we are getting better and I am confident this matuku will break the 17 year drought down to only 10 years."

http://www.headliner.co.nz/news/10705.html

"Chief Executive Andrew Knight says NZOG is stepping up exploration activity.

"PEP 51906 covers 1613 square kilometres. It's adjacent and west of the giant Maui field, north of the Maari field and south of the Tui field where NZOG's 12.5 per cent earned the company revenue of NZ$42 million in the last financial year. The operator has publicly estimated mean recoverable resource for the Matuku prospect at around 65 million barrels.

"These new acquisitions sit well within NZOG's New Zealand exploration portfolio, as they build on the knowledge base developed from NZOG's Taranaki history and provide exposure to the developing western fairway," Knight said."

Wow. A guessing game. My guess would be that Warren Head wrote the "Headliner" article, and God knows where the first quote comes from. Perhaps you saw it in the Karmasutra.

[Goldstein]

It works only if the oiler is a failure. Worked with NZO up until Tui-1 was drilled. Punters never got back in after that. Risk is low for Oi, so I would not follow that strategy this time.

If the well strikes, you have 5% profit left in there. The probability is that it won't strike though.

[Balance]

Wow. A guessing game. My guess would be that Warren Head wrote the "Headliner" article, and God knows where the first quote comes from. Perhaps you saw it in the Karmasutra.

A number of posters will recognize that quote :

""So every 17 years NZO find the big one. Rejoice for we are getting better and I am confident this matuku will break the 17 year drought down to only 10 years."

Anyway, you stand corrected on your challenge to notie. :D

[zigzag]

yeah. Come on notie. Provide us with a bibliography. Name your source, or stop making up stories!


Notie; where did they say this was a 'sure thing'?

Balance. This is the quote I am talking about. I still maintain that it is a lie!

[Balance]

A reasonable strategy for NZO might be do buy upon news of a dry well, then sell 95% of your stock just before next well is spudded.

Anybody been doing this?

BTW Balance, it is OK for an oil exploration company to spend money on oil exploration. Also I think NZO are trying to pique investor interest in Europe/UK. I'm not having a go - just presenting another opinion.

Disc: Don't own any.

And does anyone disagree?

The disagreement is how NZOG has gone about it.

As was written previously, NZOG was in a lovely position during the GFC to buy up some lovely oil assets out there. Instead, the only investment it made was to buy back the shares it divested in PPP back!

Meanwhile, its self-proclaimed experienced team has bugger all to show after a decade.

[Balance]

Balance. This is the quote I am talking about. I still maintain that it is a lie!

Say what you want - the language from NZOG (and its unquestioning cheerleader) was that Matuku was a sure thing :

"The operator has publicly estimated mean recoverable resource for the Matuku prospect at around 65 million barrels."

"I am confident this matuku will break the 17 year drought down to only 10 years."

[notie]

yeah. Come on notie. Provide us with a bibliography. Name your source, or stop making up stories!

pg 17 of this presentation to the 2013 Petroleum Conference http://www.nzpam.govt.nz/cms/pdf-library/petroleum-conferences-1/2013/presentations/1-richard-sykes-some-constraints-on-the-charging-of-tui-maui-and-maari-fields-offshore-taranaki-basin-16x9.pdf

This indicates that the Kahurangi trough is not mature enough to generate oil, or if it did it wouldn't be enough, so the chance that Matuku would be charged with oil was very low and not the high chance that NZOG carried (along with OMV)

[Balance]

pg 17 of this presentation to the 2013 Petroleum Conference http://www.nzpam.govt.nz/cms/pdf-library/petroleum-conferences-1/2013/presentations/1-richard-sykes-some-constraints-on-the-charging-of-tui-maui-and-maari-fields-offshore-taranaki-basin-16x9.pdf

This indicates that the Kahurangi trough is not mature enough to generate oil, or if it did it wouldn't be enough, so the chance that Matuku would be charged with oil was very low and not the high chance that NZOG carried (along with OMV)

Go and wash your heathen mouth out with Tui refined crude, Notie.

How dare you question the integrity and the expertise of the 'highly capable and experienced' commercial and operation team, ably led by Mr Knight, who was a director during the Pike River Coal saga, so certainly someone who knows his crude from refined.

[arjay]

pg 17 of this presentation to the 2013 Petroleum Conference http://www.nzpam.govt.nz/cms/pdf-library/petroleum-conferences-1/2013/presentations/1-richard-sykes-some-constraints-on-the-charging-of-tui-maui-and-maari-fields-offshore-taranaki-basin-16x9.pdf

This indicates that the Kahurangi trough is not mature enough to generate oil, or if it did it wouldn't be enough, so the chance that Matuku would be charged with oil was very low and not the high chance that NZOG carried (along with OMV)

Are you sure about that Notie? As I read it, the summary on P17 indicates that the original theory of a charge coming from the north via Tane coals is now less likely due to all the work done that shows the chemical makeup of the Tui area hydrocarbons indicate a more easterly charge from Maui is more likely. Note Matuku's positioning wrt to Maui? Also note that on P17 the view that charge from the Kahurangi trough is still considered possible.

[Goldstein]

And does anyone disagree?

The disagreement is how NZOG has gone about it.

As was written previously, NZOG was in a lovely position during the GFC to buy up some lovely oil assets out there. Instead, the only investment it made was to buy back the shares it divested in PPP back!

Meanwhile, its self-proclaimed experienced team has bugger all to show after a decade.

I take your point Balance. I find NZO always between a rock and a hard place though. They can't release too much news for fear of upsetting senior partners in the various campaigns. They have to keep prospective sources of capital happy both shareholders and others.

I recall some press release in which NZO said their expertise lie in getting through the NZ red tape to allow bigger players to exploit NZ's oils and gas fields (I'm paraphrasing, but that was the argument). I think it is a shame that NZO is not a lot bigger perhaps like Meridian. Meridian have the size and nous to exploit the industry they are in. They got into the wind farm business and they didn't know too much about it. They now have extensive IP in that area. I met some employees who used to be auto-electricians who Meridian trained up to work on the wind turbines. They were absolutely blown away by the chance to do that and loved working for the company. NZO just seem too small, always trying to keep various parties happy, and failing miserably.

[ziggy415]

I take your point Balance. I find NZO always between a rock and a hard place though. They can't release too much news for fear of upsetting senior partners in the various campaigns. They have to keep prospective sources of capital happy both shareholders and others.

I recall some press release in which NZO said their expertise lie in getting through the NZ red tape to allow bigger players to exploit NZ's oils and gas fields (I'm paraphrasing, but that was the argument). I think it is a shame that NZO is not a lot bigger perhaps like Meridian. Meridian have the size and nous to exploit the industry they are in. They got into the wind farm business and they didn't know too much about it. They now have extensive IP in that area. I met some employees who used to be auto-electricians who Meridian trained up to work on the wind turbines. They were absolutely blown away by the chance to do that and loved working for the company. NZO just seem too small, always trying to keep various parties happy, and failing miserably.
interesting goldy but what about ppp there small (cash rich) but they have seen oi prospect as a goer and have put their money where there mouth is by takeing 50%....time will tell if size really does matter

[Balance]

I take your point Balance. I find NZO always between a rock and a hard place though. They can't release too much news for fear of upsetting senior partners in the various campaigns. They have to keep prospective sources of capital happy both shareholders and others.



Eh - they are late in releasing news, especially when it comes to bad news (eg. dry well Matuku) - wonder why that is.

A cynic would it gives a few traders an opportunity to trade ahead of NZOG's announcements?

[Goldstein]

That's true and it would be fantastic if Oi comes good.

However, I can't help thinking the govt would be better spending the $5b or whatever it is now from the partial SOE sales to form another SOE looking looking for oil. If we are going to take the risk of this exploration, then NZ should gain from it. It would make a nice point to the asset sales - using the captial to invest in another industry creating jobs and ultimately paying a divvy back to the govt. Ultimately it could be partially floated as well.

[arjay]

That's true and it would be fantastic if Oi comes good.

However, I can't help thinking the govt would be better spending the $5b or whatever it is now from the partial SOE sales to form another SOE looking looking for oil. If we are going to take the risk of this exploration, then NZ should gain from it. It would make a nice point to the asset sales - using the captial to invest in another industry creating jobs and ultimately paying a divvy back to the govt. Ultimately it could be partially floated as well.

Wasn't that the idea of Petrocorp? Good idea, but the Govt would just end up flogging it off (again)
to one of the majors when the kitty needs topping up.

[Casino]

It's not that it couldn't be done

http://www.scoop.co.nz/stories/BU1312/S00183/statoil-awarded-exploration-permit-offshore-new-zealand.htm

[Goldstein]

Wasn't that the idea of Petrocorp? Good idea, but the Govt would just end up flogging it off (again)
to one of the majors when the kitty needs topping up.

Yep. Roger Douglas flogged it off to Fletchers. Before that they were a major player in the Maui field - so quite successful. We're just so reliant on offshore expertise these days for anything that's non-bovine. Isn't it great to see the tech sector doing well at the moment. Long may that continue.

[Balance]

https://www.nzx.com/companies/NZO/announcements/246351

ACC has had enough?

The selldown has begun after the latest debacle over Matuku?

[digger]

https://www.nzx.com/companies/NZO/announcements/246351

ACC has had enough?

The selldown has begun after the latest debacle over Matuku?

So who is the buyer? My money is on Balance being linked to the wise buying.
Now if OI comes in it will be great as it can be tied back to the TUI so minium expenses to set up.

[Billy Boy]

So who is the buyer? .
Exzackely Digger.
Has Acc sold all or some 'on Market', or just shifted the 1% or so into another account?
Acc has also sold a lot of ARG... where too, why ??.
Maybe it's time the Buyer (If one identity ) is also disclosed.
BB

[Balance]

So who is the buyer? My money is on Balance being linked to the wise buying.
Now if OI comes in it will be great as it can be tied back to the TUI so minium expenses to set up.

Ah, you like to hallucinate with Tui refined diesel fumes, don't you, poor Digger?

[ziggy415]

https://www.nzx.com/companies/NZO/announcements/246351

ACC has had enough?

The selldown has begun after the latest debacle over Matuku?
rumour is that acc is gathering a war chest to cover acc claims when half of nzers collapse when balance has something positive to say

[ziggy415]

Exzackely Digger.
Has Acc sold all or some 'on Market', or just shifted the 1% or so into another account?
Acc has also sold a lot of ARG... where too, why ??.
Maybe it's time the Buyer (If one identity ) is also disclosed.
BB
prob bcos of glut of oil with Iran being good boys and shale oil coming on line....iraq and libya upping production....anything under 90$ makes lot of wells not worth pumping so will balance out...i meant balance out not 'balance "out

[fabs]

Maybe you NZO holders should try AOR for a change? Appears they have a 1:1 ratio for strikes which would make NZO very jealous...

https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=3533672

Looks like others catching the NZO bug of SPIN.
Made T/R a Multimillionaire.

[whatsup]

That's true and it would be fantastic if Oi comes good.

However, I can't help thinking the govt would be better spending the $5b or whatever it is now from the partial SOE sales to form another SOE looking looking for oil. If we are going to take the risk of this exploration, then NZ should gain from it. It would make a nice point to the asset sales - using the captial to invest in another industry creating jobs and ultimately paying a divvy back to the govt. Ultimately it could be partially floated as well.

Goldie, If you only knew what the odds are of finding oil you would have never made that statement, 1 in 10 in finding and probably 1 in 10 of that for a massive pay off, if you want proof DYOR , take a look at OXX plenty drilled recently I think they have just completed their last one and another DRY HOLE which added to the other 6 drilled for nothing , ZILCH and one showed approx 700 mts of gas which has turned out to be uncommercial.
The oil business is a hard hard one to be in , deep pockets and balls of steel are required just for starters.

[whatsup]

Wasn't that the idea of Petrocorp? Good idea, but the Govt would just end up flogging it off (again)
to one of the majors when the kitty needs topping up.

Arj.., If you knew anything about Pcorp you would not make that comment, bought stuffed machinery at a huge price, dud staff and no real idea of the oil game from what I heard, it took the purchasers quite a while to sort out that mess./

[Billy Boy]

prob bcos of glut of oil with Iran being good boys and shale oil coming on line....iraq and libya upping production....anything under 90$ makes lot of wells not worth pumping so will balance out...i meant balance out not 'balance "out
NZO produces a high grade crude (tampes). NZR is gearing up to process this grade of crude.
Middle eastern Contries produce a low grade of crude. (Someone might post the world chart).
And this low grade leaves a lot more tar to dispose of etc..
It would appear that the Oil Industry is slowly re-gearing, eg. on shore refining and to export the
finished product(s). If this be the case, then NZ is in a very good position, re: Cost of processing etc.
There is a Coy in china that rents out electric cars by the hour. (glorified golf carts I would suggest).
If these were to be used in Auckland sucessfully ..... well. the "balancing out" Hmmmm.
Cheers BB

[fabs]

Well looks like no particular pressure on the management to perform.
With 160 Mil.+ plus in the kitty, future living in clover assured and plenty spare time to pursue other Hobby's & Interests.
Seeing that after 10 years of lea-surly meandering along still no growth in co.

[ziggy415]

Well looks like no particular pressure on the management to perform.
With 160 Mil.+ plus in the kitty, future living in clover assured and plenty spare time to pursue other Hobby's & Interests.
Seeing that after 10 years of lea-surly meandering along still no growth in co.
I also see no decission on divvy has been made for this year....does that mean less or more than last year...my guess is their going to share the cream with all long suffering share holders lol

[the machine]

I also see no decission on divvy has been made for this year....does that mean less or more than last year...my guess is their going to share the cream with all long suffering share holders lol

divvy is for half yearly report in feb
M

[fabs]

I also see no decission on divvy has been made for this year....does that mean less or more than last year...my guess is their going to share the cream with all long suffering share holders lol

The thing you call CREAM consists actually mostly monies S/H have paid into nzo years ago.

[ziggy415]

The thing you call CREAM consists actually mostly monies S/H have paid into nzo years ago.

perhaps the cream maybe curdled but a chance to put ones nose in the trough cant be all bad.....move aside you directors, ziggy,s commin through...snort...snort..lol...knowing my luck i will end up with swine flu

[ziggy415]

or is that bird flu.......oh thats right, pigs cant fly

[stanace]

Nobody commenting on 3,000,000 shares going through?

[Balance]

Nobody commenting on 3,000,000 shares going through?

Obvious - ACC selling out and Zeta Resources, already choking on 10% of NZOG, having no choice but to buy and support the sp?

https://www.nzx.com/companies/NZO/announcements/246561

Officially, Matuku plugged and abandoned.

Shhhh - you heard it here from the proactive master of communications, NZOG.

[ziggy415]

Obvious - ACC selling out and Zeta Resources, already choking on 10% of NZOG, having no choice but to buy and support the sp?

https://www.nzx.com/companies/NZO/announcements/246561

Officially, Matuku plugged and abandoned.

Shhhh - you heard it here from the proactive master of communications, NZOG.

balance your a well informed guy.....oh sorry i assume your a ball bearer and not a child bearer..with nz raising interest rates the pressure on shares is always down , so is this just the acc fund managers rebalancing there whole portfolio or only unloading nzo..interested to hear

[notie]

balance your a well informed guy.....oh sorry i assume your a ball bearer and not a child bearer..with nz raising interest rates the pressure on shares is always down , so is this just the acc fund managers rebalancing there whole portfolio or only unloading nzo..interested to hear

ACC have been a long suffering holder of these shares and have probably have had enough

[skid]

Notie-welcome back!----just like the old days:)

[Balance]

Obvious - ACC selling out and Zeta Resources, already choking on 10% of NZOG, having no choice but to buy and support the sp?

https://www.nzx.com/companies/NZO/announcements/246561

Officially, Matuku plugged and abandoned.

Shhhh - you heard it here from the proactive master of communications, NZOG.

https://www.nzx.com/companies/NZO/announcements/246608

Entirely predictable - Zeta choking on the dry wells drilled by NZOG.

[Mr Tommy]

https://www.nzx.com/companies/NZO/announcements/246608

Entirely predictable - Zeta choking on the dry wells drilled by NZOG.


Doesn't this mean ZETA just snapped up 9 million shares ????

For this disclosure,—
(a) total number held in class: 51,184,225
(b) total in class: 411,966,224
(c) total percentage held in class: 12.42%
For last disclosure,—
(a) total number held in class: 42,261,540
(b) total in class: 411,966,224
(c) total percentage held in class: 10.26%

[Balance]

Doesn't this mean ZETA just snapped up 9 million shares ????

For this disclosure,—
(a) total number held in class: 51,184,225
(b) total in class: 411,966,224
(c) total percentage held in class: 12.42%
For last disclosure,—
(a) total number held in class: 42,261,540
(b) total in class: 411,966,224
(c) total percentage held in class: 10.26%

Yup.

Note that Zeta is listed on ASX under ZER.

Stated NAB is 84.6c as at 31 Dec 2013 but sp is 50c - 40% discount.

NZOG made up 42% (yes, 42%) of ZER's portfolio.

Seems to me Zeta has no choice but to keep buying NZOG to support its sp - otherwise, ZER's performance would be even worse than it already is!

Meanwhile, Noggers can buy ZER for exposure to ZER's other investments and just about get NZOG for FREE!

Tells us a lot about how the institutional market feel about NZOG!

[fabs]

Tells us a lot about how the institutional market feel about NZOG!E][/QUOT


Yup, as mentioned many times, co. in slow meltdown unless they strike a gusher [ unlikely ]since there policy is to go for mediocrity.
Plus the slow but steady erosion of funds available in---- THE THROUGH---- By Divs. and easy earned salary's, plus some dubious exploration projects.
Estimating a time span for this to come to a sticky end, Well anybody's guess.
Lets face it under the stewardship of T/R, E/M, G/W whether we like them or not until 10 years ago this co. had an enviable future look at it now.
S/H could end up losers if this co. ends broken up, by big holders having had enough and band together while the kitty is still full.

[ziggy415]

Obvious - ACC selling out and Zeta Resources, already choking on 10% of NZOG, having no choice but to buy and support the sp?

https://www.nzx.com/companies/NZO/announcements/246561

Officially, Matuku plugged and abandoned.

Shhhh - you heard it here from the proactive master of communications, NZOG.

acc sell 3 million shares and "their selling out" zeta buy 3 million and their " choking and proping up" the sp...cmon on balance you cant have it both ways....you dont buy 9 mill. shares to prop it up.they are building a descent stake.... negativity is not clouding what they see as a sound investment

[digger]

acc sell 3 million shares and "their selling out" zeta buy 3 million and their " choking and proping up" the sp...cmon on balance you cant have it both ways....you dont buy 9 mill. shares to prop it up.they are building a descent stake.... negativity is not clouding what they see as a sound investment

If Zeta is not paying Balance for his constant negative news it should be. On the same line of thinking if Balance is not receiving payment for all his thousand of hours over many years then he is something of a fool for working so hard for no return, letting Zeta get all the cheap stakes for nothing.
Lets look at the positive for a change. NZOG income is secure for the next 10 years. The company has increased its war chest over the last 5 years and that is after dividends, big losses in PIKE and dry wells. Just about 50% of the SP is backed with cash in the bank and the company has no debt. Zeta is very much aware of this fact and are cashing in on the negative mood that the market has placed around NZOG.

There are a few things I would like to see the company do. 1/ Return to drilling Kakapo
2/Cancel the shares in lue of dividend, as shares are too cheap 3/ Buy back and cancel shares , again as shares are too cheap 4/maintain dividend 5/ carry on drilling

[Balance]

If Zeta is not paying Balance for his constant negative news it should be. On the same line of thinking if Balance is not receiving payment for all his thousand of hours over many years then he is something of a fool for working so hard for no return, letting Zeta get all the cheap stakes for nothing.
Lets look at the positive for a change. NZOG income is secure for the next 10 years. The company has increased its war chest over the last 5 years and that is after dividends, big losses in PIKE and dry wells. Just about 50% of the SP is backed with cash in the bank and the company has no debt. Zeta is very much aware of this fact and are cashing in on the negative mood that the market has placed around NZOG.

There are a few things I would like to see the company do. 1/ Return to drilling Kakapo
2/Cancel the shares in lue of dividend, as shares are too cheap 3/ Buy back and cancel shares , again as shares are too cheap 4/maintain dividend 5/ carry on drilling

What about Pike River, Digger?

6/Pay some money to the families of the dead miners.

[Balance]

acc sell 3 million shares and "their selling out" zeta buy 3 million and their " choking and proping up" the sp...cmon on balance you cant have it both ways....you dont buy 9 mill. shares to prop it up.they are building a descent stake.... negativity is not clouding what they see as a sound investment

And Zeta's sp is trading at 40% discount?

Tells you what investors think of Zeta's expertise.

As I wrote, buy Zeta's shares and you get NZOG's shares just about for free.

[ziggy415]

And Zeta's sp is trading at 40% discount?

Tells you what investors think of Zeta's expertise.

As I wrote, buy Zeta's shares and you get NZOG's shares just about for free.
top info that balance thanx...does give food for thought

[Balance]

top info that balance thanx...does give food for thought

Open up your mind and it's fascinating what's out there.

[ziggy415]

things I would like to see the company do. 1/ Return to drilling Kakapo
2/Cancel the shares in lue of dividend, as shares are too cheap 3/ Buy back and cancel shares , again as shares are too cheap 4/maintain dividend 5/ carry on drilling

digger, an area in matuku called kaka encompases a zone call kakapo which has just had 3 d done...i emailed nzo to see if this was origional kakapo and recieved an instant reply to say they had recieved my question but as yet no answers....balance did tell us their coms. are crap...he may be right

[Balance]

things I would like to see the company do. 1/ Return to drilling Kakapo
2/Cancel the shares in lue of dividend, as shares are too cheap 3/ Buy back and cancel shares , again as shares are too cheap 4/maintain dividend 5/ carry on drilling

digger, an area in matuku called kaka encompases a zone call kakapo which has just had 3 d done...i emailed nzo to see if this was origional kakapo and recieved an instant reply to say they had recieved my question but as yet no answers....balance did tell us their coms. are crap...he may be right

Making an announcement an hour plus after its partner advised the ASX that Matuku is dry tells you the contempt that NZOG holds for its shareholders - who deserve everything thrown at them by NZOG. Mushrooms and nodders should expect nothing else?

[Lion]

Ziggy, please don't go over to the dark side of negativity and join Balance, Notie and Moosie on my ignore list.

[ziggy415]

whew thats nightshift out the way for another week....no worries lion, im not going to the darkside just yet but you have to admit even some negative comments do have merit and sometimes make sense...its just a matter of picking the bits you like and discarding the rest...a glass half empty is also half full....night..night ZZZZzzzzzz...time

[Balance]

whew thats nightshift out the way for another week....no worries lion, im not going to the darkside just yet but you have to admit even some negative comments do have merit and sometimes make sense...its just a matter of picking the bits you like and discarding the rest...a glass half empty is also half full....night..night ZZZZzzzzzz...time

Fascinating, isn't it, how the truth can be so painful for Noggers?

NZOG's share price and non-performance are testimony to who has been right and identify those who choose to behave like mushrooms.

Maybe non-performance is not strong enough a word - cowardly destroyers of wealth may be a better description?

[fabs]

Lets look at the positive for a change. NZOG income is secure for the next 10 years. The company has increased its war chest over the last 5 years and that is after dividends, big losses in PIKE and dry wells. Just about 50% of the SP is backed with cash in the bank and the company has no debt. Zeta is very much aware of this fact and are cashing in on the negative mood that the market has placed around NZOG. [ Posted by Digger ]

Look Digger there was a time i too cheered for this co.
Lets face it
2 YEARS AGO, the S/P was more than 20% higher than it is today, at that rate this co. is on a path to oblivion, hard to look as far as 10 years ahead for any change, if the last 10 are any guide.
Tell me what this management has done different in those past ten to make any difference in the next ten.
As to comments by Balance, which whether we like em or not [ 95& of the time on the button ]
are having any influence either way on the S/P is ridiculous, to say the least.

Bought lots of NZO/S years ago @ 38 cents and had quite a lot of luck buying and selling them over the years so a long way ahead and still hold a fair amount in this earlier VERY PROMISING co.
But lets face it only any body that done the same or is a new investor that bought below 80 cents can justify staying in there and that gets harder by the month,

[Casino]

What other good oil companies have done really well over the last 24 months?

Our lives are so dependent on this product that you're up even when your oil stocks are down. Everybody needs to have them in their portfolio.

[macduffy]

Pateke 4H to spud "within the coming week".

http://www.asx.com.au/asxpdf/20140205/pdf/42mk3105k4kh83.pdf

[fabs]

What other good oil companies have done really well over the last 24 months?

Our lives are so dependent on this product that you're up even when your oil stocks are down. Everybody needs to have them in their portfolio.

That is true, give me a co. in oil & gas exploration in NZ that has been in the same favorable situation as nzo financially 5 years ago that wasted time, money and opportunity as nzo?

[ziggy415]

"As Vice-President and General Manager, Exploration since 2009 Mac Beggs has
overseen the revitalisation of the New Zealand Oil & Gas portfolio," Andrew
Knight says.

"The company has diversified overseas and rebuilt its New Zealand portfolio,
culminating in the 2013 Block Offer when we were awarded three new permits in
offshore Taranaki and Canterbury-Great South Basins. His ground-breaking
contribution has helped to shape the company's future.

"Last year he identified an important role identifying long term
opportunities for divestment and acquisition within the commercial team. In
this role he will focus on the long term balance of the company's protfolio.

"Our New Zealand geoscientists are one of our advantages that help to
position us as New Zealand's oil and gas company. Mac's expertise as a
petroleum geologist in his new role will strengthen our business."


"As Vice-President and General Manager, Exploration since 2009 Mac Beggs has
overseen the revitalisation of the New Zealand Oil & Gas portfolio," Andrew
Knight says.

"The company has diversified overseas and rebuilt its New Zealand portfolio,
culminating in the 2013 Block Offer when we were awarded three new permits in
offshore Taranaki and Canterbury-Great South Basins. His ground-breaking
contribution has helped to shape the company's future.

"Last year he identified an important role identifying long term
opportunities for divestment and acquisition within the commercial team. In
this role he will focus on the long term balance of the company's protfolio.

"Our New Zealand geoscientists are one of our advantages that help to
position us as New Zealand's oil and gas company. Mac's expertise as a
petroleum geologist in his new role will strengthen our business."

Jeez balance how can u not be filled with warm fuzzies lol

[Casino]

That is true, give me a co. in oil & gas exploration in NZ that has been in the same favorable situation as nzo financially 5 years ago that wasted time, money and opportunity as nzo?

Feb 2009 the world was a different place and it was hard to foresee that NZ cloud accounting software would be your best bet. Unfortunately I also don't know what the next 5 years will bring. I feel NZO offers risk/benefit that I don't see in a lot of other places.

[ziggy415]

Feb 2009 the world was a different place and it was hard to foresee that NZ cloud accounting software would be your best bet. Unfortunately I also don't know what the next 5 years will bring. I feel NZO offers risk/benefit that I don't see in a lot of other places.

geez mate it was obvious i bought 3000 xero shares for 75 cents each so i guess that makes me a bit of a guru................an i sold them for $1.50...yep doubled me money in 6 weeks ....reaching for another beer seems to help

[ziggy415]

geez mate it was obvious i bought 3000 xero shares for 75 cents each so i guess that makes me a bit of a guru................an i sold them for $1.50...yep doubled me money in 6 weeks ....reaching for another beer seems to help
then i reinvested the profits in nzog...reaching for another beer helps haha

[Casino]

geez mate it was obvious i bought 3000 xero shares for 75 cents each so i guess that makes me a bit of a guru................an i sold them for $1.50...yep doubled me money in 6 weeks ....reaching for another beer seems to help


:) double ouch. Try to be happy for those who bought your stocks...

[Balance]

What other good oil companies have done really well over the last 24 months?

Our lives are so dependent on this product that you're up even when your oil stocks are down. Everybody needs to have them in their portfolio.

Per your logic, the dairy industry is so important you must have Fonterra or Synlait shares in your portfolio?

Likewise, food industry?

Or Electricity companies?

Or Internet companies?

Or Chorus?

Profound logic!

[ziggy415]

Per your logic, the dairy industry is so important you must have Fonterra or Synlait shares in your portfolio?

Likewise, food industry?

Or Electricity companies?

Or Internet companies?

Or Chorus?

Profound logic!

or breweries MMMmmmm tui

[Casino]

Per your logic, the dairy industry is so important you must have Fonterra or Synlait shares in your portfolio?

Likewise, food industry?

Or Electricity companies?

Or Internet companies?

Or Chorus?

Profound logic!

I didn't say that. I said a dairy farmer should invest in oil to protect himself from rising fuel, fertilizer and petrochemical prices. The same goes for people that have high power, internet or food consumption.

[digger]

I didn't say that. I said a dairy farmer should invest in oil to protect himself from rising fuel, fertilizer and petrochemical prices. The same goes for people that have high power, internet or food consumption.

I did a year or so back have this out at a public meeting. Your arguments Casino are true but to my mind not the best water tight ones. I put forward that in the event of foot and mouth hitting NZ pretty much only resources would be exempt. Mostly by that I meant oil or gold. One farmer tried to say he could just sell his boat but as I pointed out so would every other farmer. Would sure be great if you were in the market for a boat.
The basic problem with trying to get farmers to invest outside the farm is that investing in land and in particular dairy land is just toooo good,so farmer find no reason to go beyond what they do.

[Casino]

I did a year or so back have this out at a public meeting. Your arguments Casino are true but to my mind not the best water tight ones. I put forward that in the event of foot and mouth hitting NZ pretty much only resources would be exempt. Mostly by that I meant oil or gold. One farmer tried to say he could just sell his boat but as I pointed out so would every other farmer. Would sure be great if you were in the market for a boat.
The basic problem with trying to get farmers to invest outside the farm is that investing in land and in particular dairy land is just toooo good,so farmer find no reason to go beyond what they do.

If the proverbial hits the fan, boats will be good ...as firewood. You can't hedge against every risk and with oil you're also betting on success and economic growth that drives scarcity.

[Billy Boy]

Ex Dividend
Period
Amount
Supp.
Imputation
Payable
Currency


11 Sep 2013
Final
3.000c
0.529c
1.167c
27 Sep 2013
NZD


13 Mar 2013
Interim
3.000c
0.529c
1.167c
5 Apr 2013
NZD



Thats &.74% and fully imputated at that. !!!!


NTA/Share:
87.88 cents



Trading below NTA !!!
Come on Divvy seekers. (and some others)
BB

[Billy Boy]

Ex Dividend
Period
Amount
Supp.
Imputation
Payable
Currency


11 Sep 2013
Final
3.000c
0.529c
1.167c
27 Sep 2013
NZD


13 Mar 2013
Interim
3.000c
0.529c
1.167c
5 Apr 2013
NZD



Thats &.74% and fully imputated at that. !!!!


NTA/Share:
87.88 cents



Trading below NTA !!!
Come on Divvy seekers. (and some others)
BB
Sorry that should be 7.4% return on years divvy. (not .74)
BB

[Balance]

[TABLE="width: 698"]


Trading below NTA !!!
Come on Divvy seekers. (and some others)
BB

I can remember the same being promoted at the beginning of 2013 - NZOG is a great divvy yield story etc.

So let's see how those who invested on that basis have done :

1. Sp was 87c - so 6c dividend looks good - 6.9%.

2. Sp is now 77.5c - a loss of 10.9%.

Net loss of 4%. Not so good, is it? Where you get by way of dividend, you more than lose by way of capital loss.

Contrast with the one oil stock I would always invest in - WPL.ASX

1. SP was $34.02 - so $2.1752 is almost just as good - 6.4%

2. Sp is $36.97 - a gain of 8.7%

Net gain of 15.1%.

[Billy Boy]

Your sums are simplistic... and so is your logic.
The capital value will rise and fall. NZO have about $160m in cash.
If and investor got in now @ 77c there got to be an upside soon. But
even then why should they sell with a return of 7.4% net ??
PPP had too much cash a way's back and had to reutrn it to shareholders.
If NZO did nothing they would be in the same boat.
I think the bottom line is :-
Energy Coy's in general are just not sexy or in fashion right now and of
course Gas is kicking them about.
So when will we have "Peak Gas" ???
Dis. Have just bought back in at 77c. things have got to get very bad B4
7.4% cap lost is achieved.
"Great dividend story, isn't it?"
Well yes.... coz divvy investors usually average down and then sell on
SP advance. NZO will return to the 80c + mark in time.
BB

[Balance]

Your sums are simplistic... and so is your logic.
The capital value will rise and fall. NZO have about $160m in cash.
If and investor got in now @ 77c there got to be an upside soon. But
even then why should they sell with a return of 7.4% net ??
PPP had too much cash a way's back and had to reutrn it to shareholders.
If NZO did nothing they would be in the same boat.
I think the bottom line is :-
Energy Coy's in general are just not sexy or in fashion right now and of
course Gas is kicking them about.
So when will we have "Peak Gas" ???
Dis. Have just bought back in at 77c. things have got to get very bad B4
7.4% cap lost is achieved.
"Great dividend story, isn't it?"
Well yes.... coz divvy investors usually average down and then sell on
SP advance. NZO will return to the 80c + mark in time.
BB


"The capital value will rise and fall' - precisely and that is why you cannot simply look at dividend yield. It is a combination of the two = returns.

"There got to be an upside soon" - how so? The track record of NZOG is a massive destruction of wealth via almost every investment they have made post Tui and Kupe. What is going to change anytime soon?

"Have $160m in cash" - so what? Cash in the hands of incompetent management (and that is NZOG's track record to date) disappears over time. Remember NZOG took in over $200m of cash from shareholders a few years ago? Wonder where that has disappeared to?

Best example of how hopeless NZOG at making investments is how it completely missed buying some choice assets during the height of the GFC in 2007/2008 when it had cash in the bank - but chose to buy more shares in PPP - an investment which is now trading at 12c.

Since then, it has spent millions exploring and making investments in Tunisia etc etc. With nothing to show.

"Divvy investors usually average down etc' - you may like to go on the Chorus thread and tell them about that!

[ziggy415]

sorry billy boy but balance wins that argument by a nose, but the good thing is you are both comfortable with your investment in nzo and are able to sleep at night.....but...balance is gonna get pelted by rotten fruit if nzo does strike it rich

[Balance]

Balance has two big baskets labelled "NZO" and "Snakk" for the possibility of said event(s). I heard he especially loves cauliflower.

Good to plan ahead eh Balance?

Get in the queue, Moose.

There's also Rakon if you want to add onto the list. Likewise, WDT.

The Noggers built their stock in the NZOG village yard 5 years for yours truly here - but they have been busy washing the eggs off their faces ever since.

Ironically, they still do not realize the eggs are being supplied by NZOG's management?

Meanwhile, how's your tissue supply going for the eggs you have to wipe off your face after Mark Ryan did a Monica Lewinsky on you?

You know, the part about 'I did not have sexual relationships with moose - I did not etc'.

:D

[Balance]

Haha it's going fine, I build a bridge and get over it quickly. The Snakk thread isall yours my friend, doubt I shall ever be back those ways again.

There are many irritated little snakes there who are trying to find the Moose tracks after being led up the sulphur path!

Apparently they want to join the Handley and Ryan head table where they have been feasting on Moose meat?

:D

[digger]

Get in the queue, Moose.

There's also Rakon if you want to add onto the list. Likewise, WDT.

The Noggers built their stock in the NZOG village yard 5 years for yours truly here - but they have been busy washing the eggs off their faces ever since.

Ironically, they still do not realize the eggs are being supplied by NZOG's management?

Meanwhile, how's your tissue supply going for the eggs you have to wipe off your face after Mark Ryan did a Monica Lewinsky on you?

You know, the part about 'I did not have sexual relationships with moose - I did not etc'.

:D

You should be pointed out to the IRD Balance. Clearly with this post and some of your later ones you have the mentality of a trader, not a long term holder that has invested for dividends.
Some years back the SP was 1-80 and the dividend was 5 cents a year, now it is 77 cents and the dividend is 6 and maybe just a bit more. From a long term holders like myself that has invested for return my yield is getting better.

[the machine]

of course the 15% nzo had to stump up for share of kupe development was quite a lot of $. - say usd$100m - usd200m
this is an investment for the future that CR was used for.

imagine if kupe was built today - the costs would be almost double.

the profit from kupe will be around for a very long time since the 2nd development drilling phase has been deferred because the field is producing so well that 2nd development phase has not been required as early as expected

M

[fabs]

Some years back the SP was 1-80 and the dividend was 5 cents a year, now it is 77 cents and the dividend is 6 and maybe just a bit more. From a long term holders like myself that has invested for return my yield is getting better.[/QUOTE]


Cant wait till the S/P is down to 20 cents, better than striking a Gusher.

[Casino]

Breath taking revelation! Wow!

This posting should be framed as it is the most revealing post yet of the warped investment mentality of some Noggers.

Digger actually believes that a falling sp increases his returns!

Profound logic and most worthy of the mushroom +++ tag now accorded to Digger.

No wonder NZOG directors and management know they do not have to worry about generating returns and increased wealth for Noggers.

Wow!

No it just shows the risks of being too forward looking and ass-u-me-ing that dividends will catch up.

[Balance]

Some years back the SP was 1-80 and the dividend was 5 cents a year, now it is 77 cents and the dividend is 6 and maybe just a bit more. From a long term holders like myself that has invested for return my yield is getting better.


Cant wait till the S/P is down to 20 cents, better than striking a Gusher.[/QUOTE]

Thanks, Fabs - you have hit the nail on the head, I think.

It certainly explains why the likes of Digger have no problems with NZOG squandering its shareholders' wealth on bad investments, dry holes and executive perks?

The sooner the sp gets down to the 20 cents, the better NZOG will perform for Digger.

Wow!

[Balance]

you delete your own post balance or admin removing stuff from here as well??

this one I mean:

Not admin.

I saw Casino replying to it with quote, so figure one is enough.

Notice the latest Snakk though has been removed?

Best to stay clear of snakes for a while - next move by admin may be more drastic! :(

[zigzag]

yeah. Come on notie. Provide us with a bibliography. Name your source, or stop making up stories!

I'm still waiting! If you can't back this up, then you should withdraw the comment, and apologise for misleading people reading this forum.

[digger]

my post 13861 was made tongue in cheek to stir up Balance a little. We all need something to entertain us between successful drills. Balance never fails to come to the party with the very miniume of stirring. Naturally I know only too well that the SP has had capital loss, as had every other oil and gas company. The sector is not well loved by investors these last 3 years. However it is still true that going forward from today the yield on NZOG stock is one of the best around.

[Balance]

my post 13861 was made tongue in cheek to stir up Balance a little. We all need something to entertain us between successful drills. Balance never fails to come to the party with the very miniume of stirring. Naturally I know only too well that the SP has had capital loss, as had every other oil and gas company. The sector is not well loved by investors these last 3 years. However it is still true that going forward from today the yield on NZOG stock is one of the best around.

That's ok, dear Digger - no need for such a pathetic excuse.

You can stop kicking yourself now, just as you did when you asserted Pike River and NZOG had no accountability for the deaths of the 29 miners, that it was the fault of the Conservation Dept and Mine inspectors.

We understand - you are a Nogger after all.

PS. By chance, are you and Billy Boy the same individual? Because both of you believe the lower the sp, the higher the yield and capital loss is immaterial to calculating returns on yield stocks!

[digger]

That's ok, dear Digger

PS. By chance, are you and Billy Boy the same individual? Because both of you believe the lower the sp, the higher the yield and capital loss is immaterial to calculating returns on yield stocks!

If Billy Boy and I were the same individual it would not be by chance but by a deliberate policy to make support for our argument .But we are not. Billy Boy is just a well balance posters that understands that when your in the oil exploration you do take risks, both on the upside and the downside. About the only two posters that are the same poster that I can point out is Notie and Balance. There is a 90% probability that they are the same individual , and it is not by chance either.
What is the weather like at your place Balance. It is trying to spit here.

[Balance]

If Billy Boy and I were the same individual it would not be by chance but by a deliberate policy to make support for our argument .But we are not. Billy Boy is just a well balance posters that understands that when your in the oil exploration you do take risks, both on the upside and the downside. About the only two posters that are the same poster that I can point out is Notie and Balance. There is a 90% probability that they are the same individual , and it is not by chance either.
What is the weather like at your place Balance. It is trying to spit here.

Weather is variable, drizzle one hour, windy the next and bright sunshine with some clouds the next. Bit like the markets at present.

[digger]

Weather is variable, drizzle one hour, windy the next and bright sunshine with some clouds the next. Bit like the markets at present.

That post 13874 balance must be the most honest and straight forward comments ever to have come from you. Never again can we say that you never answer a question but use it to ramble on about some unrelated negative concerns you fester towards NZO. Also we have now have something in common as that is how the weather is here in Morrinsville.
cheers

[Billy Boy]

Balance.
With all due respect, but are you a "Greenie" by any chance ??
I have been reading some of your post's from the past and there
seams to be a real lean to port ( Port of course being red and on the
left).
I enjoy reading your post's, but you read very much like Russel Norman
sounds.
Cheers BB:)

[Casino]

Balance.
With all due respect, but are you a "Greenie" by any chance ??
I have been reading some of your post's from the past and there
seams to be a real lean to port ( Port of course being red and on the
left).
I enjoy reading your post's, but you read very much like Russel Norman
sounds.
Cheers BB:)


I wondered about that and we should not laugh off such concerns. But before we drift off into an endless debate, we should first make sure that all of us know what fossil resources are used for:

http://grist.org/article/2010-02-11-tracking-u-s-farmers-supply-nitrogen-fertilizer/

[Billy Boy]

I wondered about that and we should not laugh off such concerns. But before we drift off into an endless debate, we should first make sure that all of us know what fossil resources are used for:

http://grist.org/article/2010-02-11-tracking-u-s-farmers-supply-nitrogen-fertilizer/
OK That,s a downside. (manageable)
Now what about the upsides.
Energy, Toys, Handyman equipment, Insulators, Insulation, Medical apparatus, Packaging,
Food Containers, etc,. etc,.
I am happy with my investment in NOG coz of the fundies
Trading below NTA,
Cash in hand.


Earnings/Share:
6.46 cents


Price/Earnings Ratio:
11.92


NTA/Share:
87.88 cents


Dividend/Share:
NZD 6 cents


Dividend Yield:
7.79%





I dont like DRP's. They dilute the share issue's
BB:)

[Casino]

OK That,s a downside. (manageable)
Now what about the upsides.
Energy, Toys, Handyman equipment, Insulators, Insulation, Medical apparatus, Packaging,
Food Containers, etc,. etc,.
I am happy with my investment in NOG coz of the fundies
Trading below NTA,
Cash in hand.


Earnings/Share:
6.46 cents


Price/Earnings Ratio:
11.92


NTA/Share:
87.88 cents


Dividend/Share:
NZD 6 cents


Dividend Yield:
7.79%




I dont like DRP's. They dilute the share issue's
BB:)

I don't see food as a downside and just wanted to make a point that our problems won't be solved by heating our homes or driving to work differently.

[Billy Boy]

I don't see food as a downside and just wanted to make a point that our problems won't be solved by heating our homes or driving to work differently.

Thats all fine

[brucey09]

Snr. Digger
Si, oil up and down but since fniding of the Kupe and the Tui last century all down. Yes?

[digger]

Snr. Digger
Si, oil up and down but since fniding of the Kupe and the Tui last century all down. Yes?

The only oil found by NZO in the last 10 years is in Indonesia. That is more than likely commercial and I expect a profit from it in a few years. Generally it can take anywhere from 5 to 7 years between discover to money in the bank.
Also I think there is a great underrating of KUPE and it is most likely to be still plodding along for the next 15 to 20 years.
The end of quarter dec 13 makes great reading. No debt and 164 million in the bank which means that 53% of the current SP is backed by cash already held.
So again I think div in lue should be cancelled and a buy back of shares revisited.

[brucey09]

The only oil found by NZO in the last 10 years is in Indonesia. That is more than likely commercial and I expect a profit from it in a few years. Generally it can take anywhere from 5 to 7 years between discover to money in the bank.
Also I think there is a great underrating of KUPE and it is most likely to be still plodding along for the next 15 to 20 years.
The end of quarter dec 13 makes great reading. No debt and 164 million in the bank which means that 53% of the current SP is backed by cash already held.
So again I think div in lue should be cancelled and a buy back of shares revisited.

Snr. Digger
Indonesia profit good? I no think so.

[Billy Boy]

Quote by Digger "So again I think div in lue should be cancelled and a buy back of shares revisited.
I agree here Digger.
MLN have a buy back and thats what they use this for their DRP needs.
NZO could follow the same model, as they trade at a discount to NTA.
Cheers BB

[Balance]

Quote by Digger "So again I think div in lue should be cancelled and a buy back of shares revisited.
I agree here Digger.
MLN have a buy back and thats what they use this for their DRP needs.
NZO could follow the same model, as they trade at a discount to NTA.
Cheers BB



Ain't going to happen anytime soon - a share buyback will see NZOG end up with less cash, less shares and less shareholders which means NZOG will find it harder to tap into shareholders for 'capital' in future when the cash is exhausted.

Here's a challenge and suggestion to NZOG :

1. Pay out the $160m cash to shareholders who have suffered long enough from poor performance and disastrous investments.

2. Fund exploration from the cash flow coming in from Kupe and Tui. This will ensure NZOG operates with discipline and proper evaluation, rather than the ever changing strategies of onshore, offshore, onshore etc.

3. If there is a good strike, come back to shareholders for capex funding to exploit the strike. Shareholders will be only too happy to oblige.

[digger]

Ain't going to happen anytime soon - a share buyback will see NZOG end up with less cash, less shares and less shareholders which means NZOG will find it harder to tap into shareholders for 'capital' in future when the cash is exhausted.

Here's a challenge and suggestion to NZOG :

1. Pay out the $160m cash to shareholders who have suffered long enough from poor performance and disastrous investments.

2. Fund exploration from the cash flow coming in from Kupe and Tui. This will ensure NZOG operates with discipline and proper evaluation, rather than the ever changing strategies of onshore, offshore, onshore etc.

3. If there is a good strike, come back to shareholders for capex funding to exploit the strike. Shareholders will be only too happy to oblige.

There is a little bit of merit in your three suggestions. Certainly not the usual anti-negative NZO stuff so are worth a debate on.
About a year ago I was with a former high office employer of NZO and he certainly felt strongly that NZO should not stock pile money. Much research over many companies does show that companies that accumulate too much cash also very quickly accumulate vultures both in the company and outside that set about trying in various ways to get the money off you. Note this happens to individuals but as an individual you do not have to publicises you bank account, unlike a public company.

So again I see merit in all three of your suggestions but it is far to extreme and I would not do it that way. With companies or individuals a sure way to be poor is spend all your money and believe that you can simply live off your future earnings. Your three suggestions would make it almost impossibly for the company to ride out a rainey day having only future earnings to rely on.. Just for a sec imagine the company giving back all 160 million only to have something go wrong. The first to anti that would be Mr Balance himself and for the second time I would have to agree with him that it was the dumb of dumb things to do. It is also very messy in that you are giving then facing the possibility asking for it back. That to would justify another anti outburst from Balance which I again would have to agree with.
So I think the board has to weigh up these factors and make the decision from there. Too much stock piling of money has the vulture risk as mentioned before and giving too much back weakens our future manoeuvring prospects

[Balance]

There is a little bit of merit in your three suggestions. Certainly not the usual anti-negative NZO stuff so are worth a debate on.
About a year ago I was with a former high office employer of NZO and he certainly felt strongly that NZO should not stock pile money. Much research over many companies does show that companies that accumulate too much cash also very quickly accumulate vultures both in the company and outside that set about trying in various ways to get the money off you. Note this happens to individuals but as an individual you do not have to publicises you bank account, unlike a public company.

So again I see merit in all three of your suggestions but it is far to extreme and I would not do it that way. With companies or individuals a sure way to be poor is spend all your money and believe that you can simply live off your future earnings. Your three suggestions would make it almost impossibly for the company to ride out a rainey day having only future earnings to rely on.. Just for a sec imagine the company giving back all 160 million only to have something go wrong. The first to anti that would be Mr Balance himself and for the second time I would have to agree with him that it was the dumb of dumb things to do. It is also very messy in that you are giving then facing the possibility asking for it back. That to would justify another anti outburst from Balance which I again would have to agree with.
So I think the board has to weigh up these factors and make the decision from there. Too much stock piling of money has the vulture risk as mentioned before and giving too much back weakens our future manoeuvring prospects

It's simplistic but since NZOG is so superbly confident of its cash flow from Kupe and Tui, the company should pay out at least half of the cash - plenty left in the kitty for a rainy day.

Meanwhile, the track record of this company - changing strategy almost year by year, CEO by CEO, one bad investment after another in the last 5 years - warrants very close shareholders' scrutiny of its future sizable investment spend. That can only happen if the executives have to explain their rationale and basis for making sizable investment spend.

Will Noggers pick up the challenge?

[digger]

It's simplistic but since NZOG is so superbly confident of its cash flow from Kupe and Tui, the company should pay out at least half of the cash - plenty left in the kitty for a rainy day.

Meanwhile, the track record of this company - changing strategy almost year by year, CEO by CEO, one bad investment after another in the last 5 years - warrants very close shareholders' scrutiny of its future sizable investment spend. That can only happen if the executives have to explain their rationale and basis for making sizable investment spend.

Will Noggers pick up the challenge?

Your very flexible Balance. In less than 24 hours you have gone from NZO giving back 160 million to now giving back half it or 80 million. What will tomorrow bring?

[Balance]

Your very flexible Balance. In less than 24 hours you have gone from NZO giving back 160 million to now giving back half it or 80 million. What will tomorrow bring?

Compromise, Digger - did I hear Noggers cheering from the sidelines?

[digger]

Compromise, Digger - did I hear Noggers cheering from the sidelines?

The sounds you heard are those that are made when people are horrified at some of your suggestions. And I thought I was the deaf one in the crowd.
I use Bayaudiology. Do you want me to book you in an appointment, as you are plainly hearing things incorrectly?

[Balance]

The sounds you heard are those that are made when people are horrified at some of your suggestions. And I thought I was the deaf one in the crowd.
I use Bayaudiology. Do you want me to book you in an appointment, as you are plainly hearing things incorrectly?

My mistake, Digger. The cheering was actually from ex-Noggers who sold out and wondered why they were there in the first place!

Meanwhile, it seems to me that ACC is trying to get rid of the rest of their NZOGs but the only buyer in town, Zeta, has decided they have had enough too?

Great buying opportunity for the Noggers who have been nodding along with NZOG's management in the last 5 years?

[fish]

Prospects

Dividend announcement due today
Modern technology is being claimed by nzo to have increased the success rate of drilling from 1 in 8 to 1 in 3 in the space of the last few years.
As I believe in science and know karma doesn't work I am really looking forward to seeing a change in fortune for nzo.
We have a strong chance of success in the tui fields and Indonesia will diversify production soon.

[fish]

I read an article saying explorers had suffered horrendously worldwide in 2013 as successful exploration wells were nearly at an all time low. Guess NZO rebranded to an explorer just in time eh?

Maybe most of the easy oil has been found-shallow wells might be targeting smaller collections of oil as is the case with nzo now.
Just hope their success rate on exploration wells improves to 1 in 3 as they suggest .

[Balance]

It's simplistic but since NZOG is so superbly confident of its cash flow from Kupe and Tui, the company should pay out at least half of the cash - plenty left in the kitty for a rainy day.

Meanwhile, the track record of this company - changing strategy almost year by year, CEO by CEO, one bad investment after another in the last 5 years - warrants very close shareholders' scrutiny of its future sizable investment spend. That can only happen if the executives have to explain their rationale and basis for making sizable investment spend.

Will Noggers pick up the challenge?

Half year results out.

http://www.youtube.com/watch?v=Iz-8CSa9xj8

Sorry, Noggers but no share buyback or capital return - the company directors proclaim 'It's their precious'.

http://www.youtube.com/watch?v=Gk4Ntcq5uNg

[ziggy415]

2 weeks at the beach and i was about to say nothing has changed on this thread,,, but i think balance has mellowed,either that or some other thread is coping it.
good to see origin are keen about Lng down south with neighbours nzo getting bit of lift.....makes the directors look a bit clever if big enough find

[winner69]

Last year Clare said NZO was undervalued

These pretty pictures from sort of says price about OK

http://clarecapital.co.nz/cc-content/uploads/2014/01/Clare-Capital-Market-Valuation-of-OG-Players-20140113.pdf

[Billy Boy]

Surprised you haven't hoed into this a bit more Balance. Cash balance on the way downwards with sweet FA to show. Uh oh!
Balance is far too bussy worrying about the drop to 8% in the polls !!!
BB:D

[Balance]

Balance is far too bussy worrying about the drop to 8% in the polls !!!
BB:D

Haha - more like getting into gambling and black rocks.

http://www.sharetrader.co.nz/showthread.php?5609-Is-SKC-a-bargin-at-present/page25

[fabs]

ACTION OF A RESPONSIBLE MANAGEMENT????

Following the retirement of Craig Munro as Chairman and his succession by
Dave Frow, the Board has elected not to replace the position and run with a
smaller Board. The Board and Executive of Bathurst Res. all agreed immediate reduction in
remuneration of up to 30%.


May one suggest the board of nzo to consider a similar move.
Until reserves and production improves, after all it has been a long wait in the Doldrums.

[ziggy415]

[QUOTE=fabs;463799]ACTION OF A RESPONSIBLE MANAGEMENT????

Following the retirement of Craig Munro as Chairman and his succession by
Dave Frow, the Board has elected not to replace the position and run with a
smaller Board. The Board and Executive of Bathurst Res. all agreed immediate reduction in
remuneration of up to 30%.


May one suggest the board of nzo to consider a similar move.
Until reserves and production improves, after all it has been a long wait in the Doldrums.

just remember if you pay peanuts you only get monkies...ha.ha

[ziggy415]

ACTION OF A RESPONSIBLE MANAGEMENT????

Following the retirement of Craig Munro as Chairman and his succession by
Dave Frow, the Board has elected not to replace the position and run with a
smaller Board. The Board and Executive of Bathurst Res. all agreed immediate reduction in
remuneration of up to 30%.


May one suggest the board of nzo to consider a similar move.
Until reserves and production improves, after all it has been a long wait in the Doldrums.

up to 30%...with one less board member 20% reduction still gives same remuneration to remaining board members

[ziggy415]

i see large orders on buy side for nzo this morning...with no insider trading allowed on nzx must be weekend lotto winner taking another gamble

[Mr Tommy]

i see large orders on buy side for nzo this morning...with no insider trading allowed on nzx must be weekend lotto winner taking another gamble

Last week Pateke was at 1500m, so be interesting to see where they are at in tomorrows announcement.
Back in 2004, Pateke-2 hit a 13 metre oil column in the Kapuni F Sand which are 3700m
So all going well we should be drilling thru there this week.

[digger]

I am waiting on this drill for sure. As the Info structure is already in place there is very little development before production. Even the greenies will be hard pressed to stop any progress here. Also if enough oil is present to me it gives a more likely outcome at OI.

[RTM]

Some good news.....

NZO
06/03/2014 14:03
MINE

REL: 1403 HRS New Zealand Oil and Gas Limited

MINE: NZO: Reservoir encountered at Pateke-4H

The Pateke-4H well had been drilled to a total measured depth of 4,110 metres
at 6.00 this morning NZDT and encountered the primary objective Kapuni F
sands, the operator has advised.

Oil shows have been observed by surface monitoring equipment and realtime
petrophysical measurements indicate the likely presence of an oil-bearing
reservoir.

9 5/8 inch casing will now be run and cemented to a measured depth of 4100
metres, then drilling will continue through the reservoir section. At a
projected total measured depth of 5,361 metres sufficient data will be
available to determine whether the reservoir is commercial. A decision will
then be made whether to complete the well and subsequently tie it back to the
Tui FPSO "Umuroa", in which case production would be expected in 2015.

The theory behind the Pateke-4H well is that an accumulation of oil in a
northern extension is not being recovered by the producing Pateke well.
Pateke is one of three producing fields in the Tui area oil fields in PMP
38158, approximately 50 kilometres off the coast of Taranaki, New Zealand.
Pateke-4H is in water depth of about 124 metres.

Drilling began on 9 February. The objective of the well was to test whether
the reservoir sands exist where expected, and if so, whether the reservoir
has been emptied.

New Zealand Oil & Gas has a 27.5 per cent interest in Tui. The other Tui
joint venture partners are:
AWE Limited (via subsidiaries) (Operator) 57.5%
Pan Pacific Petroleum (via subsidiaries) 15.0%

John Pagani
External Relations Manager
+64 21 570 872
End CA:00247901 For:NZO Type:MINE Time:2014-03-06 14:03:46

[ziggy415]

ppp has 15% of pateke and goes up 8%...nzo has 27% and goes down .6% go figure...still looks good tho

[RTM]

I think NZO has been unbalanced.

[ziggy415]

I think NZO has been unbalanced.

say what u like but the unbalanced one is thought provoking and quite well informed and does bring life to the thread....omg did i just say that....no more beersies for me

[digger]

say what u like but the unbalanced one is thought provoking and quite well informed and does bring life to the thread....omg did i just say that....no more beersies for me

You could also say the current absent of the unbalanced one is most encouraging. We would certainly be well advised if any negative could be spotted. Maybe the reservoir is filled with mushrooms so there is only mushroom oil which is not selling too well on the world market at the moment.

[digger]

say what u like but the unbalanced one is thought provoking and quite well informed and does bring life to the thread....omg did i just say that....no more beersies for me

You could also say the current absent of the unbalanced one is most encouraging. We would certainly be well advised if any negative could be spotted. Maybe the reservoir is filled with mushrooms so there is only mushroom oil which is not selling too well on the world market at the moment.

[Billy Boy]

Pateke-4H Looking good.
This now puts a greater positive spin toward OI. Which is soon to be drilled.
Poor old Balance.... "Balance we miss you" :)
Cheers to all
BB:)

[Mr Tommy]

From AWE presentation earlier this week (page 30) it says Pateke 4 "development well" is costing $55m USD, and Oi "exploration well" is $27m USD

Page 30
http://www.asx.com.au/asxpdf/20140303/pdf/42n4jmrbf9j1fs.pdf

[blockhead]

Nog drills a hole looking for oil...finds oil...and the price dips ???

What did I miss ???

[neopoleII]

you missed nothing......
NOG has a history of telling the market that it has oil shows.
but when its all done and dusted....... ie dusted...... its just shows.
and that is why the thrill and drill show left NZO a long time ago.
prove the show and then the sp might go up.
in the meantime....... whats up with the 2 suspended well in Indonesia?
they had "flowing" oil of a few hundred bathtubs a day....
and a confident of "progressing" but are hamstrung by regulation.??

so....... NZO news reports are worthless to the market until the "operator" says what is really going on.
I do wish NZO well...... as I have an investment in them approaching 10 years that is still in negative territory.

[ziggy415]

getting little concerned..share price appears to be reflecting a dry hole.....price should be starting to lift by now...not suggesting any insider trading but the man that makes the tea on the rig tells two friends and he tells two friends....you know how it goes

[Joshuatree]

"mechanical drill string difficulties...If remedial actionsare unsuccessful a short section of the well may need to be redrilled as a sidetrack op...."

Funny that i had my coffee today at the Sidetrack Cafe. Jeezus sorry folks. Cum 3 c div .

[couta1]

Would the 75c 52 week low have been an ex dividend low? ,I'm just trying to get a feel for an entry point for a small parcel,cheers

[fabs]

Well as long as the management is focused on for whom they are there for [ THEM ]
Surly that is all that matters as far as they are concerned.
At the moment still heaps of funds in THAT WELL so still successful drilling it.

[Banksie]

Would the 75c 52 week low have been an ex dividend low? ,I'm just trying to get a feel for an entry point for a small parcel,cheers

You should be able to work that out from the date of the low and the ex-div dates. The info should be available on ASB, NZX and/or finance.yahoo.

[couta1]

Don't do it couta (for obvious reasons many put forward on here...)
So it sounds like its a bit of a black dog then,cheers

[Banksie]

So it sounds like its a bit of a black dog then,cheers

So that's it - investment decision made, random query about the price and then following a mooses' advice.

I am sure you have heard this before couta1 but you really do have to DO YOUR OWN RESEARCH.

Apologies if you have spent the last week reading NZO annual reports, studying the last few years price movements, checking yields, and doing some reading on oil exploration and the current state of the oil industry in NZ and Indonesia.

BTW - I have a great deal on an inheritance locked up in Nigeria. If you could just provide some seed capital.

[couta1]

Yes Banksie have done research but many years ago when I had a small holding,black dog comment was tongue in cheek but others cautions are always welcome,cheers

[Billy Boy]

DIGGER !!!!
You stop that tut-tuting and chuckeling, I can hear you from here !!
BB:D

[digger]

DIGGER !!!!
You stop that tut-tuting and chuckeling, I can hear you from here !!
BB:D



Well heard BB . I was chuckling too. Especially at Moosie great research advise.
Great to have sharetrader and get a wide range of thoughts on every subject. No need anymore to go to the pub to get them---they are all here.


Just a thought but if the JV,s must be somewhat confident that the oil is there and is economic with the drill now having troubles would be abandoned.

[ziggy415]

Yes Banksie have done research but many years ago when I had a small holding,black dog comment was tongue in cheek but others cautions are always welcome,cheers

hang fire....i,ll check with balance and get back to ya

[ziggy415]

hang fire....i,ll check with balance and get back to ya

Balance says "fill ya boots boris"...best investment eva

[fabs]

Just a thought but if the JV,s must be somewhat confident that the oil is there and is economic with the drill now having troubles would be abandoned.[/QUOTE]

Yeah right,
would probably cost them just as much in compensation to the contractor as would going ahead with it.
The S/Hs of AWE are not impressed.
But as always lets hope they are all wrong.
CHEERS

[Billy Boy]

Well heard BB . I was chuckling too.

Just a thought but if the JV,s must be somewhat confident that the oil is there and is economic with the drill now having troubles would be abandoned.
Yep could well be an elevation of Tui (guessing of course). But there again you can betcha boots
they would have tested the hydrocarbon shows to see if they match.

Looking good for ÖI
BB

[ziggy415]

A stuck drill string can be caused by many situations.


Packing-off due to cuttings settling back into the wellbore when circulation is stopped.
Differentially when there is a large difference between formation pressure and wellbore pressure. The drill string is pushed against one side of the well bore. The force required to pull the string along the wellbore in this occurrence is a function of the total contact surface area, the pressure difference and the friction factor.
Keyhole sticking occurs mechanically as a result of pulling up into doglegs when tripping.
Adhesion due to not moving it for a significant amount of time.

Once the tubular member is stuck, there are many techniques used to extract the pipe. The tools and expertise are normally supplied by an oilfield service company. Two popular tools and techniques are the oilfield jar and the surface resonant (http://en.wikipedia.org/wiki/Resonant) vibrator. Below is a history of these tools along with how they operate.
Lets hope its the second point.....formation pressure sounds good

[Joshuatree]

Thanks ziggy ; my own personal resonance indicator is" picking up good vibrations" but i would say that:)

[Sayce]

In my opinion once a drill has reached the zone of interest then nog or the operator should issue daily progress reports

[ziggy415]

In my opinion once a drill has reached the zone of interest then nog or the operator should issue daily progress reports

just watch buy/sell quotes....just before the stuck string announcement the sells appeared however i now see the buys are starting to appear so expect an announcement shortly saying drill is moving again

[ziggy415]

just watch buy/sell quotes....just before the stuck string announcement the sells appeared however i now see the buys are starting to appear so expect an announcement shortly saying drill is moving again

oops right with announcement just wrong with topic....no insider trading but some one always knows before the rest of us plebs

[digger]

oops right with announcement just wrong with topic....no insider trading but some one always knows before the rest of us plebs

Ziggy415, did you read the genesis energy
share float where NZO pointed out on there release today. IT shows a big increase in gas sales by 2015 ,so anyone reading that could then see a lift for NZO as we have 15% of the KUPE field,which is where the gas is coming from.
In fact I hoped others would read it to back up what I have said or rubbish it as I have read it wrong.
So I do not see any insider trading here.

[ziggy415]

Ziggy415, did you read the genesis energy
share float where NZO pointed out on there release today. IT shows a big increase in gas sales by 2015 ,so anyone reading that could then see a lift for NZO as we have 15% of the KUPE field,which is where the gas is coming from.
In fact I hoped others would read it to back up what I have said or rubbish it as I have read it wrong.
So I do not see any insider trading here.

more tongue in cheek really but in case of pateke surely awe ..nzo...and ppp can make announcement as one and not hours apart....as for genisis i was unable to read the statement for some reason and hoped nzo would make a post today...did they say who was going to buy all this extra production

[Mr Tommy]

The operator of the Pateke-4H well in the Tui oil fields offshore Taranaki was preparing to sidetrack a short section of lower wellbore at 6.00 this morning NZDT.

Mechanical drill string difficulties experienced in the original hole, and advised last week, were unable to be fully resolved. The lower part of the hole has been abandoned.

It is now proposed to sidetrack with a 12 1⁄4 inch drilling assembly from a measured depth of 3,375 metres, drill into the F10 reservoir at a horizontal angle of approximately 90 degrees, and then set the 9 5/8 inch casing at approximately 4,110 metres as planned.

The well will then be drilled horizontally through the F10 reservoir to a total measured depth of 5,361 metres.

The Kapuni F10 sandstone objective has already been intersected as expected with oil shows and real time logging measurements indicating the likely presence of an oil bearing reservoir. The operator describes this as “very encouraging”, however the commercial significance of the oil shows will not be clear until the horizontal drilling has been completed.

[Sayce]

Interestingly the PPP notice on the sidetrack is more informative than either NZO or AWE

[rbel038]

The barrier for economic viability I would think should be really the cost of a subsea pipeline to tie-into Umuroa. The production well is a sunk cost at this point? I have my money on it going ahead :)

[digger]

Interestingly the PPP notice on the sidetrack is more informative than either NZO or AWE


The barrier for economic viability I would think should be really the cost of a subsea pipeline to tie-into Umuroa. The production well is a sunk cost at this point? I have my money on it going ahead :)

Me to. Firstly the reservoir has to be intersected which it has. Then oil has to be found in the reservoir which clearly appears to be the case. So far PPP has said encouraging three times and now NZO once. Sure it can not be commerically viable yet as so far only a very small piece of the area has been examined. Naturally the next 1200 metres or so will have to be drilled but nevertheless so far so good.
Balances money is also on a success or else he would surely be here loud and clear to laugh at us mushrooms for still believing a success from NZO drilling is possible.

[skid]

Anyone want to take bets as to whether it's commercially viable or not?

Balance has been rather quite lately...


Statistically,according to the odds, one would always bet no-Its a testament to just how scarce that stuff is getting in this day and age but you never know --sooner or later one will come in---it would be nice to see some fireworks again like the old days.

[Balance]

Statistically,according to the odds, one would always bet no-Its a testament to just how scarce that stuff is getting in this day and age but you never know --sooner or later one will come in---it would be nice to see some fireworks again like the old days.

Drilling for oil or gas is not like putting money on red or black at the roulette table at the casino (as some of you seem to think is the case) until you get a win.

Companies with real expertise find oil and gas.

I really shudder at the mindset of some posters who think it is a game of chance to find oil!

[Casino]

Drilling for oil or gas is not like putting money on red or black at the roulette table at the casino (as some of you seem to think is the case) until you get a win.

Companies with real expertise find oil and gas.

I really shudder at the mindset of some posters who think it is a game of chance to find oil!

Can you please name some of those companies?

[Balance]

Can you please name some of those companies?

Try Murphy Oil, Oil Search, Woodside petroleum.

Try Statoil.

A little sample :

Statoil's record exploration success in 2013
Last year, Statoil was the world's leading oil and gas explorer, as measured by the total volume of conventional oil and gas discovered, led by its Bay du Nord discovery offshore Canada -- the largest oil discovery of 2013.

An exploration well drilled in Bay du Nord last year by Statoil and co-venturer Husky Energy suggests the discovery could contain between 300 million and 600 million barrels of recoverable oil resources. It is Statoil's third major find in the Flemish Pass Basin, following the Mizzen discovery -- estimated to contain 100 million-200 million barrels of recoverable oil -- and the Harpoon discovery, which is still being evaluated to assess its resource potential.

Statoil in November also announced a major oil discovery in the Norwegian Sea's Snilehorn prospect, which is estimated to contain recoverable resources of 55 million-100 million barrels of oil equivalent and marked the company's third major discovery in the Norwegian Sea in just three months. Combined, the three discoveries contain estimated recoverable resources of 86 million-166 million barrels of oil equivalent.

[fabs]

Maybe the mang. of nzo are a more modest lot, quite happy to get 20-25% of an 8-10 mil. barrel pond.
As long there is something flowing into the trough,all is well.

[Casino]

Try Murphy Oil, Oil Search, Woodside petroleum.

Try Statoil.



Is this a joke? Statoil is in essence a country. NZO is barely bigger than Xero's market cap increase today.

[Goldstein]

I think it's NZO's partners who decide where to spud the wells. I wonder sometimes whether NZO is more of a marketing and bureaucracy handling company, relying on others for actual geo work.

[neopoleII]

""Is this a joke? Statoil is in essence a country. NZO is barely bigger than Xero's market cap increase today. ""
maybe so, but NZO has stated that it wants to invest into oil producing companies etc.
NZO has a "warchest" of 160 million for this purpose..... and it does???

whats wrong with "farming in" into one of these projects instead of trying to find their own whale.

AWE ..... their best partner to date has offered up some good farm ins only to be ignored by NZO.

there is huge opportunity for NZO to farm into a project......... but it seems that NZO wants others to
farm into their wildcats.

as it stands..... alot of kiwi oil speculators / punters dont realize just what a bad reputation NZO has
amongst the real oil explorers in the world...... which is why NZO cant get farm in partners,
and the "royal" attitude of management means they wont farm into other's real prospects.

this is what happens when the founder / controller / chairman / master / runs the company with an iron fist
for well over a decade or so....... while that person becomes an old senile man and loses his wits and the
shareholders money.
luckily...... all is not lost...... most is.... but the co has a chance to rebuild.......
how long it will take will depend on the new folks that control this company.

question....... whats wrong with investing into a billion dollar oil field that is proven and pays rewards?
the door is open for NZO to do this....... and would give a healthy long term return, therefore securing the companies
future and their own exploration dreams.

[Casino]

""Is this a joke? Statoil is in essence a country. NZO is barely bigger than Xero's market cap increase today. ""
maybe so, but NZO has stated that it wants to invest into oil producing companies etc.
NZO has a "warchest" of 160 million for this purpose..... and it does???

whats wrong with "farming in" into one of these projects instead of trying to find their own whale.

AWE ..... their best partner to date has offered up some good farm ins only to be ignored by NZO.

there is huge opportunity for NZO to farm into a project......... but it seems that NZO wants others to
farm into their wildcats.

as it stands..... alot of kiwi oil speculators / punters dont realize just what a bad reputation NZO has
amongst the real oil explorers in the world...... which is why NZO cant get farm in partners,
and the "royal" attitude of management means they wont farm into other's real prospects.

this is what happens when the founder / controller / chairman / master / runs the company with an iron fist
for well over a decade or so....... while that person becomes an old senile man and loses his wits and the
shareholders money.
luckily...... all is not lost...... most is.... but the co has a chance to rebuild.......
how long it will take will depend on the new folks that control this company.

question....... whats wrong with investing into a billion dollar oil field that is proven and pays rewards?
the door is open for NZO to do this....... and would give a healthy long term return, therefore securing the companies
future and their own exploration dreams.

Hindsight is 20/20. And don't forget how is easy it is to burn through 160m if you play the deep sea game, which is what the 'real oil explorers' do. Let's see what Oi brings be it just some excitement...

[Balance]

Is this a joke? Statoil is in essence a country. NZO is barely bigger than Xero's market cap increase today.

Eh - what's wrong with investing in a country if that's what it is?

Better than investing in a small one which has shown it has bugger all expertise and more seriously, has a habit of blowing up shareholders' wealth.

[Balance]

question....... whats wrong with investing into a billion dollar oil field that is proven and pays rewards?
the door is open for NZO to do this....... and would give a healthy long term return, therefore securing the companies
future and their own exploration dreams.

What's wrong is that the executives and directors cannot justify the huge salaries, fees and perks they enjoy for 'managing and directing' NZOG.

[Casino]

Eh - what's wrong with investing in a country if that's what it is?

Better than investing in a small one which has shown it has bugger all expertise and more seriously, has a habit of blowing up shareholders' wealth.

There is nothing wrong with Statoil but you are comparing apples and oranges. Why do you invest in PEB and not Roche?

[Balance]

There is nothing wrong with Statoil but you are comparing apples and oranges. Why do you invest in PEB and not Roche?

Because I have been following PEB and think they have an excellent product and track record of meeting deadlines and goals.

What's your reason for investing in NZOG? Track record? Odds at the casino type investment?

[Casino]

Because I have been following PEB and think they have an excellent product and track record of meeting deadlines and goals.

What's your reason for investing in NZOG? Track record? Odds at the casino type investment?

I think NZO pays decent dividends and the risk is limited. There is plenty of upside if they find another oil field but that's nothing I would bank on in the short-term. It may not be the flavour of the month but there are lots of companies in the sector that make for good investments at the moment if you're patient enough.

[Casino]

Balance, what happens if you overlay the charts of NZO and Statoil?

[Balance]

Balance, what happens if you overlay the charts of NZO and Statoil?

You can do the charts yourself but in the last 5 years :

NZO has gone from $1.39 to 80c = minus 42.5% + 15% (dividends 24c) = minus 27.5%
STO has gone from $18.33 to $27.84 = +52% + 28% (dividends $5.13) = 80%

So outperformance by STO is 107.5%.

[brucey09]

I think it's NZO's partners who decide where to spud the wells. I wonder sometimes whether NZO is more of a marketing and bureaucracy handling company, relying on others for actual geo work.

Snr. Goldstein
Correcto - NZO is ONLY an Investing in other companies experts , NZO has no experts, needing no own experts . Other companies do work. ?Yes?

[brucey09]

Snrs.
Searches Snr. A. Knight Partner "Watchman Capital". Investor?

[ziggy415]

You can do the charts yourself but in the last 5 years :

NZO has gone from $1.39 to 80c = minus 42.5% + 15% (dividends 24c) = minus 27.5%
STO has gone from $18.33 to $27.84 = +52% + 28% (dividends $5.13) = 80%

So outperformance by STO is 107.5%.

sigh...things can only go up for nzo.....check some of the other oilers...their not going so crash hot either

[BigBob]

You can do the charts yourself but in the last 5 years :

NZO has gone from $1.39 to 80c = minus 42.5% + 15% (dividends 24c) = minus 27.5%
STO has gone from $18.33 to $27.84 = +52% + 28% (dividends $5.13) = 80%

So outperformance by STO is 107.5%.

Nice one Balance... a randomly chosen time frame, eh...?

Maybe try the same exercise, but randomly choose 2 years instead...

[Balance]

Nice one Balance... a randomly chosen time frame, eh...?

Maybe try the same exercise, but randomly choose 2 years instead...

Tells us more about how you would do things? Dead giveaway.

Casino says he is in for the longer term and I simply took 5 years as a reasonable time frame.

He can do an overlay himself and result is the same.

[digger]

Really? You have checked WPL and OSH?

Must be looking at different charts than I am!


Balance as you know your dealing in hindsight,hence I take it from your posts there is not too much wrong with NZO just at the moment. Why is it that several years ago we did not hear about these world best oilers until well after the event.. Or put it another way who will do the best for the 2015 to 2016 years. Now I do not want to know in 2017 but now as we can only invest going forward.
It is encouraging for the present that the only thing you are negative about with NZO is that past records have some other world wide oilers with better records.

[Balance]

Balance as you know your dealing in hindsight,hence I take it from your posts there is not too much wrong with NZO just at the moment. Why is it that several years ago we did not hear about these world best oilers until well after the event.. Or put it another way who will do the best for the 2015 to 2016 years. Now I do not want to know in 2017 but now as we can only invest going forward.
It is encouraging for the present that the only thing you are negative about with NZO is that past records have some other world wide oilers with better records.

I have encouraged Noggers to look at ASX oilers before if you bother to look back.

Your memory is failing you, Digger.

Just as NZOG has failed you in just about every way possible?

[Balance]

Balance as you know your dealing in hindsight.

Hindsight?

Who has been right on the gross mismanagement of NZOG and Pike River for the last 5 years?

If that is what you call hindsight, I shudder to think of what your foresight is!

[Casino]

Tells us more about how you would do things? Dead giveaway.

Casino says he is in for the longer term and I simply took 5 years as a reasonable time frame.

He can do an overlay himself and result is the same.

Or 10 years for that matter just not when NZO peaked and STO dipped:

http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1395172800000&chddm=3262&chls=IntervalBasedLine&cmpto=NZE:NZO&cmptdms=1&q=NYSE:STO&ntsp=0&ei=QDwoU8ClMs_VkAXenQE

And don't forget the compounding effect of reinvesting dividends.

[RTM]

Perhaps I am now understanding why the share price has not reacted more positively to the news.
Took a look at the location of the drill...and they seem to be pretty much in the middle of an oil field.
So it would have been surprising if they had not found oil I suppose.
Ah well....fingers crossed for another day.
Disc. Have had them from the day they started.

[Banksie]

Perhaps I am now understanding why the share price has not reacted more positively to the news.
Took a look at the location of the drill...and they seem to be pretty much in the middle of an oil field.
So it would have been surprising if they had not found oil I suppose.
Ah well....fingers crossed for another day.
Disc. Have had them from the day they started.

There is information on the NZO website about where they are exploring and why. Pateke-4 is on this page - http://www.nzog.com/where-we-are-exploring/producing-assets/tui-area-oil-field/tui-explorers/. The hope is that they discover a reservoir of at least 2.5 million barrels (which equates to 687,500 barrels for NZO).

[RTM]

There is information on the NZO website about where they are exploring and why. Pateke-4 is on this page - http://www.nzog.com/where-we-are-exploring/producing-assets/tui-area-oil-field/tui-explorers/. The hope is that they discover a reservoir of at least 2.5 million barrels (which equates to 687,500 barrels for NZO).

Thanks Banksie,

One wonders why they did not play there before heading off overseas. I have always told to "fish at my feet" first !

[ziggy415]

Thanks Banksie,

One wonders why they did not play there before heading off overseas. I have always told to "fish at my feet" first !

dont forget next well is oi which is in same area.....est.10 million barrels by nzo but ppp thinks 15 million...here,s hoping nzo is wrong again.....ppp are so sure they are paying 50% of drill costs

[arjay]

I have encouraged Noggers to look at ASX oilers before if you bother to look back.




Indeed, ASX oilers are doing stunningly well. QPN is down 90% (1.8c > 0.2c) over the last three years (as another random example).

[ziggy415]

Indeed, ASX oilers are doing stunningly well. QPN is down 90% (1.8c > 0.2c) over the last three years (as another random example).

awe. energy have done quite well and have struck the same amount of oil as nzo has

[ziggy415]

awe. energy have done quite well and have struck the same amount of oil as nzo has

and i bet someone at Anadarko is feeling bit twitchy after costs to drill nz coast for zip

[neopoleII]

here was a chance for NZO to buy 50% of 100 odd million barrels of proven oil from AWE a trusted partner.
but no....... someone else bought it. and NZO could of afforded this share with cash..... or at worst asked shareholders
to buy it........ proven is proven and the numbers are very good in anyones books...... except NZO management
that want to find their BIG field.

""
Australian-based oil producer and explorer, AWE (AWE), has welcomed a reserve upgrade at the Ande Ande Lumut (AAL) oil field, offshore Indonesia. This field is wholly owned by AWE and the company has previously announced a sale process whereby up to 50% of the asset may be sold down. The outcome is expected at the end of the September quarter. The upgrade to reserves is timely, as brokers believe it will enhance the attractiveness of the asset in the sale process.

The independent assessment has resulted in gross 2P - proved and probable - oil reserves increasing to 101 million barrels from the previous estimate of 76mmbbl. The net entitlement oil reserves estimate has increased to 50mmbbl from 43mmbbl. The smaller increase in net entitlement highlights the low profit share for the asset. AWE originally acquired the field for US$139 million in 2011.

UBS models a 25% contractor profit share in valuing AAL. What surprised UBS was the company's realised oil price expectations - at, or around, the Brent price. The oil in AAL is quite heavy and the broker had expected it would sell for a discount to Brent. UBS assumes a sell down for AAL will net US$100m for a 50% interest, but could be as much as US$140m if higher oil price assumptions are used. Macquarie estimates AWE could realise up to US$110m. Macquarie's oil price forecasts help. The broker values a development of the primary K-sands at US$5.3/barrel of oil equivalent and this compares favourably to the US$1.8/boe value in the original acquisition price.""

so AWE made a profit but left plenty of fat in the deal.

What has NZO spent on exploration to find how much?..........

[Snow Leopard]

...Australian-based oil producer and explorer, AWE (AWE), has welcomed a reserve upgrade at the Ande Ande Lumut (AAL) oil field, offshore Indonesia...

Here is an English version (http://ceritarakyatnusantara.com/en/folklore/74-Ande-Ande-Lumut) of the [Javanese folk] story.

As for the oil field, I think that NZO probably had enough exposure to Indonesia already in addition to not being anywhere big enough to take AAL on.

Best Wishes
Paper Tiger

[ziggy415]

Neopolle
what does the net entitlement oil reserve mean,...is this whats left after idonesian govt. takes there cut...i see santos paid us$100 million plus us$88 million other costs and i cant see anybody selling an asset for way less than its worth whether it be a house..car...or oil well