NZ Oil & Gas (NZO)

[nztx]

News slow arriving - on return back over the ditch ? ;)

a bit strange as it came from Oz in the first place ..

[LEMON]

Where do you think it goes for NZO now guys? I have been watching from the sidelines on this announcement.

[nztx]

where was SP before this play started - high 50's / low 60's ?

did the market really put much value on the Ironbark prospect in NZO's SP
in any case - if NTA is looked at in comparison to SP

okay sure - some cash has been thrown at Ironbark, but .. ?

[LEMON]

If I remember right low 60s yes.

[Ripping]

Doesn't seem to be a lot going for NZO now. All that remains is the draining of their current wells. Still, break-up value is still more than the current share price.

[nztx]

Did someone suggest Liquidating NZO earlier here ? ;)

SP looks like it's been beaten to h3ll on back of this announcement
but NTA suggests still some value in excess of SP for those faring
the seas on a locked in Share Register, with a majority holder ..

[nztx]

The sky appears to be falling with SP ..


0.48/0.55 last 0.56 within past 20 mins


SP now 0.47

[Boffin]

will be interesting what O.G Oil and Gas will now do. Somebody is buying big in NZ and a 100,000 buyer just came in at 51.5c on the ASX........

[arjay]

Where do you think it goes for NZO now guys? I have been watching from the sidelines on this announcement.

Hopefully we won’t return to years of (unsuccessfully) looking for promising takeover opportunities whilst using our diminishing funds to pay a raft of six figure salaries to employees who have been unsuccessful in adding value to the company. Having not identified follow-up prospects maybe it is time to wind up? While not in the best interests of employees, it would be in the best interests of shareholders.

[BigBob]

will be interesting what O.G Oil and Gas will now do.

Maybe they should try the SOI again... 72c is probably just about a fair price without Ironbark...

[SPC]

Agree concerning prior ogog offer.
We were told that ironbark was effectively worthless and the Ofer offer reflected this. Minority holders baukled noting that NTA (cash in bank plus assets) were still worth more, AND the fact that ogog were intent on drilling regardless suggested that the company was under priced even with ironbark at $0 value. Nothing has changed with the ironbark result so presumably still a 'good offer' at 72+...let's see how credible ogog are now..

[trader_jackson]

looks like holders should have taken the takeover offer at 74c afterall...NZO (unfortunately) have a history (at least in the last 5 or so years) of providing disappointing returns and/or results... doubt there'll be any takeover offer now, but for holders sake, I hope there is, anything above 60c should probably be considered rather than 'auto rebuked' like the previous (74c) offer was.

Disclosure: ex holder, sold out in late 2016

[Sideshow Bob]

Ahhhh bugger. ;)

[nztx]

Ahhhh bugger. ;)


dont tell anyone -- but it aint completely .. ;)

[mistaTea]

What a ride!

A damn shame Ironbark did not come through, but this is a Big Boys game and we all knew the risk.

Based on my low purchase price I essentially got a crack at Ironbark for free. This is what made the investment play so attractive to me - Heads I win, Tails I don’t lose.

All one can do is make the best and most logical decisions based on the facts before them.

Retrospective analysis along the lines of “I should have sold more earlier” or “Boy am I silly for not taking OGOG up on their SOA!!” are pointless (and weak thinking imho).

If one had done either of those things and then Ironbark came through it would have been even more agonising to think of what could have been.

All you can ever do is assess the information at the time and try to make an informed choice based on your investment philosophy and risk tolerance.

It is the end of the road for me with NZO now. I have long said that, in my view, the only interesting thing about NZO was Ironbark. Clipper isn’t happening (and has a very different risk-reward profile anyway), and the company only has about $50M sitting in the bank that can be invested - something they have failed to do for the last few years.
Could OGOG make an offer for the rest of the shares? Maybe, but I would never hold shares hoping for a takeover (and I somehow doubt OGOG would offer 62c again - a market cap of $102M for a company that has very limited prospects).
I think the “rebuild” from here (if there is one) will be long and painful, and in the meantime I don’t fancy continuing to pay management the obscene sums they get for very little return.

Liquidation may be the best route - but that would probably only generate a few more cents per share compared to where the SP is now.

Maybe NZO will buy a slice of Kupe back from Genesis. But then I don’t think Genesis are going to sell that asset for a bargain, so the return would not be spectacular.

The road ahead is so unclear, with so many ifs and maybes. As such, it no longer meets investment grade as I can no longer say I understand the Business Case.

I regret nothing though, and would do it all again if a similar “Heads I win, Tails I don’t lose” opportunity arose.

Those are my thoughts for what they are worth - good luck to remaining holders.

[arjay]

Retrospective analysis along the lines of “I should have sold more earlier” or “Boy am I silly for not taking OGOG up on their SOA!!” are pointless (and weak thinking imho).

If one had done either of those things and then Ironbark came through it would have been even more agonising to think of what could have been.

This is a good point and for some investors it can be a lose-lose ‘heads I should have bought more, tails I should have sold earlier’. For me it was the most fun ride since Hochstetter. It will be interesting to see some analysis of the drill and I hope BP et al give a post-drill appraisal of the geology encountered.

Maybe NZO will now become one of those attractive takeover opportunities they’ve been looking for since the GFC😊

[Fabs37]

This is a good point and for some investors it can be a lose-lose ‘heads I should have bought more, tails I should have sold earlier’. For me it was the most fun ride since Hochstetter. It will be interesting to see some analysis of the drill and I hope BP et al give a post-drill appraisal of the geology encountered.

Maybe NZO will now become one of those attractive takeover opportunities they’ve been looking for since the GFC😊

As in a previous posting, this paned out almost exactly as 20 years ago with Hochstetter.

Quite a bit of UP & DOWN Ramping by some Forum members

Hochstetter from 66c to below 30c post drill result.

Ironbark 75c to maybe below 30c too??

QUO VADIS- NZOG- from here??

Nowhere in a hurry, since it has been a VERY lucrative Cash Cow for many years for the few
in control.
SO NO NEED TO CHANGE A WINNING fORMULA.

[airedale]

Ahhhh bugger. ;)
C'est la vie.

[whatsup]

What a ride!

A damn shame Ironbark did not come through, but this is a Big Boys game and we all knew the risk.

Based on my low purchase price I essentially got a crack at Ironbark for free. This is what made the investment play so attractive to me - Heads I win, Tails I don’t lose.

All one can do is make the best and most logical decisions based on the facts before them.

Retrospective analysis along the lines of “I should have sold more earlier” or “Boy am I silly for not taking OGOG up on their SOA!!” are pointless (and weak thinking imho).

If one had done either of those things and then Ironbark came through it would have been even more agonising to think of what could have been.

All you can ever do is assess the information at the time and try to make an informed choice based on your investment philosophy and risk tolerance.

It is the end of the road for me with NZO now. I have long said that, in my view, the only interesting thing about NZO was Ironbark. Clipper isn’t happening (and has a very different risk-reward profile anyway), and the company only has about $50M sitting in the bank that can be invested - something they have failed to do for the last few years.
Could OGOG make an offer for the rest of the shares? Maybe, but I would never hold shares hoping for a takeover (and I somehow doubt OGOG would offer 62c again - a market cap of $102M for a company that has very limited prospects).
I think the “rebuild” from here (if there is one) will be long and painful, and in the meantime I don’t fancy continuing to pay management the obscene sums they get for very little return.

Liquidation may be the best route - but that would probably only generate a few more cents per share compared to where the SP is now.

Maybe NZO will buy a slice of Kupe back from Genesis. But then I don’t think Genesis are going to sell that asset for a bargain, so the return would not be spectacular.

The road ahead is so unclear, with so many ifs and maybes. As such, it no longer meets investment grade as I can no longer say I understand the Business Case.

I regret nothing though, and would do it all again if a similar “Heads I win, Tails I don’t lose” opportunity arose.

Those are my thoughts for what they are worth - good luck to remaining holders.


Well said mT my thoughts entirely.

[Joshuatree]

Happy Xmas to all on board.
We are nearly at our destination and I feel relaxed we are in good hands thanks to BP and the NZO team particularly Andrew Jefferies .
Looks like we will arrive safely-do not expect fireworks to mark this.
There will be no flaring and not even a test of gas flow rates.
Just a mtb probe to measure the hydrocarbons in the formation fluid .
Information about success will be tightly held until announced .
I am very biased but feel we are riding a success wave (as must be all the buyers of CUE-the sp has tripled this year )

Easy come easy go?

[fish]

Easy come easy go?

Definitely not

[Joshuatree]

It was a gamble.

[nztx]

Me gone .. better fish to fry elsewhere now ;)

[Fabs37]

It was a gamble.

Had only 0-5 % chance to succeed, according to the Experts [ grin ]

SO ????

[airedale]

It was a gamble.
As all explorers of resources are. That is the game. We knew the risks.

[whatsup]

Had only 0-5 % chance to succeed, according to the Experts [ grin ]

SO ????


Fab, THAT IS TOTAL RUBBISH, if you had read the reports/ expectations you would have seen 30% COS, P B DO NOT waste their funds and expertise on just any prospect.

Please do yourself a favour in future and research your subject, as a junior member you have a lot to learn !

[Fabs37]

[QUOTE=whatsup;865457]Fab, THAT IS TOTAL RUBBISH, if you had read the reports/ expectations you would have seen 30% COS, P B DO NOT waste their funds and expertise on just any prospect.

Target intersected at 5.6Km in 53 days of predicted 70-90?

How often does that happen?? Never come across it in the last 30 Y,s plus.

Assessment of Geostrata poor [maybe very porous ??? ]

BP might need a new Geologist then, or at least 35% more luck.

Paste that in your Hat

[airedale]

Well whatever is past is past. Today's trading puts the SP up 1.9% and 242,000 shares traded. That is similar to the volume traded before the announcement. Somebody can still see some value in NZO.
Discl: Still sticking around to see what happens. But it may turn out to be the dreaded "dead cat bounce"

[mike2020]

Good news on CUE today.

[airedale]

Good news on CUE today.


Cue up 15 % but NZO down 1.9%. Despite NZO owning half of Cue.

[Sideshow Bob]

Cue up 15 % but NZO down 1.9%. Despite NZO owning half of Cue.

The announcement even says "NZO subsidiary" :blink:

[Sideshow Bob]

Quarterly cashflow and activities reports - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/366918)

From the other day but just landed in my email this morning.

Just under $90m in cash, which by my reckoning is about $0.54 per share, not to mention CUE, who are holding $25.6m AUD.

I guess market still has no confidence that they are going to do anything useful with it......but let it dwindle away.

[Davexl]

Quarterly cashflow and activities reports - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/366918)

From the other day but just landed in my email this morning.

Just under $90m in cash, which by my reckoning is about $0.54 per share, not to mention CUE, who are holding $25.6m AUD.

I guess market still has no confidence that they are going to do anything useful with it......but let it dwindle away.

Seems to me that when Genesis finishes its Kupe review by midyear, that NZO would be a natural holder of remaining Kupe assets,

which would marry up with their small current shareholding and particularly their Kupe compression project...

"One example of meeting that need is the continuing progress of installation of compression at the Kupe wells. Compression has the
effect of pushing gas out of the well at a faster rate. Completion is on schedule for mid-year, when production is expected to return to
plateau levels of around 77TJ per day."

Lots of life in the old dog left methinks...

[SPC]

Yes possibly but don't forget that NZO sold that holding to GNE are year or two back for good money and simultaneously bought a small holding from mitsui who were exiting for a knockdown price...am I correct here?
So it would need to be another knockdown offer to buy a big holding
backk again.....?

[Davexl]

Yes possibly but don't forget that NZO sold that holding to GNE are year or two back for good money and simultaneously bought a small holding from mitsui who were exiting for a knockdown price...am I correct here?
So it would need to be another knockdown offer to buy a big holding
backk again.....?

Good points - but stranger things have happened, NZO has new major shareholder now with deep pockets...

[Waikaka]

Kupe is a great asset if perhaps getting a little long in the tooth and therefore expensive now.

Despite this it would be a good idea for NZOG to try to buy all of Genesis share in Kupe hopefully at rock bottom prices.

NZOG don't have the technical staff, deep pockets or even a proper retailing arm to sell product but riding on the Beach Energy coat tails they should be fine. They would get absolutely hammered as operator so I hope like hell Beach will stay in country now that they have pretty much given up on exploration here. NZ tight gas market means the few producing fields left should get better prices in the future.

I have started accumulating a small position in NZOG in the hope they wind up the business and return the cash to shareholders, probably the best out come as NZOG are clearly too small and under resourced to properly invest in exploration.

[Getty]

Those comments were successful in getting a few greasy hands to let their shares slip way, from 52c down to 48.5c

[Davexl]

Possible full Kupe ownership remains the key to unlocking further activities value...

(http://“Both New Zealand Oil & Gas and Beach Energy remain committed to New Zealand through production at the Kupe Gas Field in South Taranaki, which remains a key supplier to the country’s energy needs. At Kupe we are halfway through a major compression project to maintain production from our large offshore production permit that has both development and near field exploration potential.”)

[nztx]

PEP 52717 Relinquishment

https://www.nzx.com/announcements/367662

"16/2/2021, 1:44 pm MKTUPDTE
New Zealand Oil & Gas and partner Beach Energy have applied to relinquish Petroleum Exploration Permit 52717 (Clipper), which contains the Barque prospect.

“It is with great regret that the Joint Venture relinquish this permit after years of work to mature it and bring in appropriate partners. I expect it will not be the last offshore acreage to suffer the same fate. New Zealand Oil & Gas believes a confluence of events including; adverse regulatory settings for offshore exploration; the dry hole at OMV’s Tawhaki permit; the recent announcement terminating Wherry-1 drilling; and the effects of COVID on drill rig costs and availability have formed a perfect storm, making the task of finding suitable partners in the required timeline impossible” says Chief Executive Andrew Jefferies.

“Both New Zealand Oil & Gas and Beach Energy remain committed to New Zealand through production at the Kupe Gas Field in South Taranaki, which remains a key supplier to the country’s energy needs. At Kupe we are halfway through a major compression project to maintain production from our large offshore production permit that has both development and near field exploration potential.”

[Davexl]

Possible full Kupe ownership remains the key to unlocking further activities value...

https://www.nzx.com/announcements/367662 (http://“Both New Zealand Oil & Gas and Beach Energy remain committed to New Zealand through production at the Kupe Gas Field in South Taranaki, which remains a key supplier to the country’s energy needs. At Kupe we are halfway through a major compression project to maintain production from our large offshore production permit that has both development and near field exploration potential.”)

My apologies...

Excerpt:

“Both New Zealand Oil & Gas and Beach Energy remain committed to New Zealand through production at the Kupe Gas Field in South Taranaki, which remains a key supplier to the country’s energy needs. At Kupe we are halfway through a major compression project to maintain production from our large offshore production permit that has both development and near field exploration potential.”

[Lion]

Ironbark, the potential company maker, may have become the company breaker. (No one’s fault - who knows when that gas escaped, thousands or millions of years ago.)

Chairman Andrew’s ‘North Sea of the South’ dream for New Zealand has now fizzled (not his fault either, and kudos to him for dreaming big.)
With the recent surrender of permits, there are now no exciting explorations left in New Zealand or abroad for NZOG.

Kupe looks okay, yes, but it only just pays the overheads.

CUE looks okay, yes.

But overall, NZOG is in a sunset industry and has failed to spend its substantial war-chest on anything useful while oil prices were low and opportunities looked good. Oil seems to be rising and those opportunities are fast receding.

The embarrassing scheme of arrangement attempt showed that the board do not care about the interests of minority shareholders, despite their obligation to look after all shareholders.

Who knows what strategy the majority shareholder, OGOG, has for the company, or if they even have one.

The share price seems to just keep falling. It is now well below Net Tangible Assets and perhaps even below cash held in the bank.

In this dismal situation, what is left for we minority shareholders?

I think only one thing – LIQUIDATION.

Sell Kupe, share out the substantial cash in the bank, share out the valuable CUE shares (they belong to every shareholder after all), pack up the expensive tent of NZOG and its directors and let’s call it a day and all get a good night’s sleep again.

Any thoughts, anyone? Digger??
There’s been no comment since the announcement of the recent permit surrenders on ShareTrader – nothing at all.
Wouldn’t liquidation be a good option for the majority shareholder as well? Or do they have another cunning plan? Any comment from the board?

[Sideshow Bob]

Quarterly came out Friday.

Quarterly cashflow and activities report - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/371420)

Still trading at exactly the amount of cash in the bank.

Otherwise, it looks like auto-pilot is still fully engaged and sailing along like the Marie Celeste........;)

[mike2020]

So trading at more or less its cash value not including any assets, like CUE, which seems to have very positive cash flow.

[Sideshow Bob]

So trading at more or less its cash value not including any assets, like CUE, which seems to have very positive cash flow.

Correct - trading at the value of cash that NZO has in the bank. Still some more costs to pay for the Ironbark exploration, but CUE has $17m in the bank themselves.

However NZO are continuing "to screen growth opportunities that are suitable for its balance sheet. It is seeking non-operated production assets, with a preference for gas into good markets in our own region."

But how long have they been saying something similar?? A year ago they had $115m in the bank, much of the decrease for Ironbark.

Just don't seem to have a clue, drift along, spending cash on admin, board, overheads etc.

I think Lion summed it up well above.

[fish]

Correct - trading at the value of cash that NZO has in the bank. Still some more costs to pay for the Ironbark exploration, but CUE has $17m in the bank themselves.

However NZO are continuing "to screen growth opportunities that are suitable for its balance sheet. It is seeking non-operated production assets, with a preference for gas into good markets in our own region."

But how long have they been saying something similar?? A year ago they had $115m in the bank, much of the decrease for Ironbark.

Just don't seem to have a clue, drift along, spending cash on admin, board, overheads etc.

I think Lion summed it up well above.

OGOG are directing the show .
They are shrewd and I just wonder if a low share price created by the above impression suits them .
Will wait it out no matter how long it takes .

[Sideshow Bob]

OGOG are directing the show .
They are shrewd and I just wonder if a low share price created by the above impression suits them .
Will wait it out no matter how long it takes .

Absolutely. Everyone else is mere passengers.....

[JBmurc]

Ironbark, the potential company maker, may have become the company breaker. (No one’s fault - who knows when that gas escaped, thousands or millions of years ago.)

Chairman Andrew’s ‘North Sea of the South’ dream for New Zealand has now fizzled (not his fault either, and kudos to him for dreaming big.)
With the recent surrender of permits, there are now no exciting explorations left in New Zealand or abroad for NZOG.

Kupe looks okay, yes, but it only just pays the overheads.

CUE looks okay, yes.

But overall, NZOG is in a sunset industry and has failed to spend its substantial war-chest on anything useful while oil prices were low and opportunities looked good. Oil seems to be rising and those opportunities are fast receding.

The embarrassing scheme of arrangement attempt showed that the board do not care about the interests of minority shareholders, despite their obligation to look after all shareholders.

Who knows what strategy the majority shareholder, OGOG, has for the company, or if they even have one.

The share price seems to just keep falling. It is now well below Net Tangible Assets and perhaps even below cash held in the bank.

In this dismal situation, what is left for we minority shareholders?

I think only one thing – LIQUIDATION.

Sell Kupe, share out the substantial cash in the bank, share out the valuable CUE shares (they belong to every shareholder after all), pack up the expensive tent of NZOG and its directors and let’s call it a day and all get a good night’s sleep again.

Any thoughts, anyone? Digger??
There’s been no comment since the announcement of the recent permit surrenders on ShareTrader – nothing at all.
Wouldn’t liquidation be a good option for the majority shareholder as well? Or do they have another cunning plan? Any comment from the board?

I think you make perfect sense ... made a purchase into CUE ASX 6.4c other day looks so very undervalued to peers with EVs 10x higher!!!! that only have a few exploration permits + dusters to date nil production profile only hopes of production....

CUE has the cash + cashflows they should be looking for more growth assets maybe even outside O&G ....sitting on cash at zero return doesn't make any sense esp in NZO case ..

[Lion]

Trading Halt. An acquisition, they say? I do so hope it's something to give the SP a kick in the guts. I suppose taking out CUE would be too much to hope for. There's been no comment here about any acquisition yet. I note they have put a TH on the ASX too - didn't they get pinged for not doing that a while back?
Here's hoping, guys and gals.

[Wiremu]

Similar trading halt announced by Cue.

Could it be Kupe?

[Davexl]

Finally - signs of some action. Might finally find out what OGOGs strategy is for NZO...Something to do with Kupe?

[Lion]

Some talk on HotCopper:

https://hotcopper.com.au/threads/ann-trading-halt.6073202/#post-53366731

Central Petroleum Limited (CTP) went into a trading halt at the same time as NZO on the ASX - they say they are selling something. They have a $A78m market cap with lots of assets in Australia.

Digger (who posts as Foldtoo in Aus.) wonders if CUE might be doing a reverse takeover of NZO. He's a wise old bird, but I'd be a bit surprised if he's correct about that one.

But at least something is happening! Has to be good.

[Davexl]

This might be the guts of it all...??

From SMSMAN: talking about CTP from HotCopper. (Thanks for the heads-up Lion!)

This is from their annual report: "The current process for a partial sell-down of our existing Amadeus Basin assets continues to be encouraging, with interest reinvigorated following recent announcements on the AMGP and the Federal Government’s Energy Plan. Given the significance of a partial sell-down, it is critical that we don’t rush, but instead take the time necessary to get the best outcome with the right partner." So it was described as a partial sale, not as a farm in. I'm guessing this is what is happening.

"And finally, our planning and preparations for new exploration wells targeting known productive formations in
the Amadeus Basin later this year continues to build in anticipation of the completion of the farm-out process
which, although taking longer than anticipated, continues to progress well. We remain optimistic that a valueaccretive transaction can be announced in the June quarter and that we can preserve a target exploration
drilling commencement date in Q4 2021."

From the qrthly 30/04/21.

Here's hoping!

[digger]

Windsor 76 on Hotcopper was the first to see and post that CTP was also in trading halt which also ends exactally the same time as CUE and NZOG,so he is probably onto it. We just have to wait.
I would not like to see CUE get taken out as it has a future,whereas NZOG is somewhat clouded on why it should go on existing. We had our big chance with Ironbark and lost. NZOG has also lost big with the Labor /green govt which is not likely to change anytime soon.
I favor first that CUE does a reverse takeover of NZOG for the above reasons . However my money would be on Windsor 76 being right now that he has spotted the trading Halt of CTP.

[digger]

There is a lot of news on Hotcopper about CTP selling down. Worth a read if interested.

[mistaTea]

Won’t be waiting long to see what management are doing with available capital. NZO and CUE taking a slice of the CTP asset could well be happening.

Whether or not it is a good deal will depend on price.

Good luck to all holders - you need some good news!

[Lion]

Hey mistaTea, we used to hear a lot from you on NZO & CUE threads. You're not dead, are you? Good, neither am I. Life goes on after the Ironbark duster. You sold your NZO after that didn't you? I didn't. Do you think there's any hope there will ever be useful hydrocarbons in CUE's Carnarvon permits? It's not impossible, and the need for gas for the nearby LNG plants is still there. It's good to see NZO & CUE doing something with all that lazy money in the bank. Yes, we sure need some good news, hope this is it. Cheers mate!

[Sideshow Bob]

Proposed Acquisition of Central Petroleum Amadeus Assets - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/372751)

roposed Acquisition of Central Petroleum Amadeus Assets

25/5/2021, 8:30 amMKTUPDTENew Zealand Oil & Gas Group agrees to purchase interests in 3 producing Northern Territory assets from Central Petroleum.
Agreement is subject to conditions, including shareholder approval.

14.5mmboe increase in 2P reserves; a near 5 times increase.*

Cash payment of A$29m, adjusted for revenues and costs from 1 July 2020, and development carry capped at A$40m.

New Zealand Oil & Gas to acquire 70%, Cue Energy (New Zealand Oil & Gas 50.04% owned subsidiary) to acquire 30%.

[Davexl]

Minimal market movement, thought there might be a little more enthusiasm!

Awaiting the shareholder vote first?

[mike2020]

Minimal market movement, thought there might be a little more enthusiasm!

Awaiting the shareholder vote first?

What is actually available to buy? I had a look, nothing more than a handful.

[Davexl]

What is actually available to buy? I had a look, nothing more than a handful.

The resources & reserves statement is all in the pdf.

Pity there wasn't a higher level of equity in the Mereenie Gas field

Bit more SP movement now...little bit better!

[mike2020]

I meant shares on the market. You cannot take a reasonable bite without increasing the share price 50%

[Davexl]

I meant shares on the market. You cannot take a reasonable bite without increasing the share price 50%

Be my Guest Mike!:) 40000 @ 46c ??

[fish]

The resources & reserves statement is all in the pdf.

Pity there wasn't a higher level of equity in the Mereenie Gas field

Bit more SP movement now...little bit better!

Special meeting 24/6/2021
cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02377834-3A567678?access_token=83ff96335c2d45a094df02a206a3 9ff4

[Davexl]

From Aust:

eg NZO ?? Big Oil’s climate defeats deepen risks for Australian producers (to sell assets etc)

https://www.smh.com.au/business/companies/big-oil-s-climate-defeats-deepen-risks-for-australian-producers-20210527-p57vl4.html

Could this mean NZO ending up with stranded gas assets?

Maybe better to simply cash out the company instead?

[Lion]

Maybe better to simply cash out the company instead?

Oh, I'm greatly in favour of cashing up, Dave. I suppose management are not. It would never pass on a vote, but I am convinced it's the best thing for minority shareholders now. Sell up while it's still worth something, I say.
Digger, you are still a substantial shareholder, do you have an opinion?

[JBmurc]

From Aust:

eg NZO ?? Big Oil’s climate defeats deepen risks for Australian producers (to sell assets etc)

https://www.smh.com.au/business/companies/big-oil-s-climate-defeats-deepen-risks-for-australian-producers-20210527-p57vl4.html

Could this mean NZO ending up with stranded gas assets?

Maybe better to simply cash out the company instead?

the idea we are all just going to survive on Windmills and EV/s is deluded ... Big Oil wouldn't be Big oil if there wasn't major demands of O&G this isn't going to be replaced in the next couple of decades ... doesn't matter how much the pinheads talk up EV's only future ...

we have just purchased are second new ICE 4WD ... will last us for the next decade ...And I'm sure thats the same for 90% of new Auto buyers ... also our house has Gas fire,water,hob .... we aren't planning on replacing ... so as long as Rockgas supplies we keep buying like many millions across the world ...

this whole transition to clean energy only has no real basis of facts but pure talk with very little action.... yes Volvo talk up no ICE engines by 2030 .. lets see them walk the talk

[Davexl]

So we get an overwhelming vote to go ahead with Amadeus gas fields, SP drops.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/374429/348842.pdf

Would have preferred the certainty of wind-up myself and cash in the bank.
Supposedly not getting a dividend for about 3 years - so the capital gain had better be good!

Thoughts from anyone who listened in at the meeting?

[SPC]

I listened. It's really now about OGOG using NZO as a piggy bank to fund projects in other countries. Wind up was never on the table.
Can't see the need for expensive local staff now with all the major action in Aus. and elsewhere.
Close the local office and skeleton staff can work from home..?
Dead money for years ahead.

[Joshuatree]

Melliferous , ive never seen anyone use this word in business ever, very impressed except he spelt it wrong. Lots to like with all but guaranteed buyers of the Gas.



The increase in our 2P reserves and contingent resources is considerable.
This acquisition will add 14.5 million barrels of oil equivalent to our 2P reserves boosting them nearly 5 times, and another 8.6 million to our 2C resources. Significant volumes of unrisked prospective resources round out the picture. All the usual context, details and disclaimers apply, and you should read the resources and reserves compliance statement in the Notice of Meeting.










"This increased production creates an immediate impact on revenues and profit. These figures are based on our due diligence, are unaudited and subject to many variables such as: performance of the assets, future costs, the gas prices achieved, as well as the timing uncertainties of development work and completion of the deal.[/FONT]
As 1922 Nobel Physics prize winner Niels Bohr once said, “Prediction is very difficult, especially about the future.”
In our base case, we estimate our consolidated revenues to nearly double. With further uplift the following year as the development volumes kick in."
That’s on top of our other activities, including Kupe, Mahato, Sampang and Maari.

[Fabs37]

[QUOTE=Joshuatree;892012]


In our base case, we estimate our consolidated revenues to nearly double. With further uplift the following year as the development volumes kick in."
That’s on top of our other activities, including Kupe, Mahato, Sampang and Maari.


Well that sounds very good, was already resigned to put it into the bottom draw for my G/Grandchildren.

[JBmurc]

[QUOTE=Joshuatree;892012]


In our base case, we estimate our consolidated revenues to nearly double. With further uplift the following year as the development volumes kick in."
That’s on top of our other activities, including Kupe, Mahato, Sampang and Maari.


Well that sounds very good, was already resigned to put it into the bottom draw for my G/Grandchildren.

Great long term asset to secure when you look at international Nat Gas demand and high Aus east coast Gas prices ..

[JBmurc]

Mr Samter said the US oil and gas sector was in a similar situation in the third quarter last year, when share prices were all down 20-30 per cent as oil prices started to rise before the market suddenly woke up to the changing macro environment. Since then, ExxonMobil has doubled off its lows, while Occidental has more than trebled.
“For me, the reality is that the sector will play catch-up and then continue to thrive as we enter a highly attractive period for investing in energy stocks,” he said.

https://www.copyright link/companies/energy/energy-stocks-disconnect-gets-crazy-20210702-p5868z


AUD spot oil price = $100bbl

[fish]

Promising results announced today .
Increased production is going to happen from Amadeus in particular.This seems a certainty(or as close as is possible)
My guess is 2 years before dividends restart
Sp still well below NTA
Chief Executive Andrew Jefferies says the business has a net tangible asset
backing of 60.8 cents per share, well above its current share price.

[Joshuatree]

And no exploration costs next year?

[mistaTea]

Wow, I see Andrew Jeffries didn’t even have to write a letter to shareholders this year in the Annual Report.

Looks like he has to do even less work for his salary than before.

And the Chairman’s letter gives no insights into industry conditions and/or an education to investors on the business/industry with unique insights etc. Just a summary of facts in terms of recent transactions.

They definitely have zero interest in their minority business partners. But we already knew that.

[Davexl]

I don't get it, the report is full of ESG bs - what about the boom in energy resource prices worldwide and in Australia, Oil, Gas, Coal etc - all of this (except coal) should be sung from the rooftops by the CEO and reflected in the pathetic share price, what's the matter with these people?!

[Wiremu]

mistaTea, Dr Archer is up for re-election at this year's Annual Meeting so we can all express our thoughts by voting against that particular resolution. I will certainly be doing so.

[Sideshow Bob]

mistaTea, Dr Archer is up for re-election at this year's Annual Meeting so we can all express our thoughts by voting against that particular resolution. I will certainly be doing so.

I'm definitely motivated to do so too.....

[mistaTea]

mistaTea, Dr Archer is up for re-election at this year's Annual Meeting so we can all express our thoughts by voting against that particular resolution. I will certainly be doing so.

Yes, I agree that it is important for minority shareholders to express their feelings whenever they can by voting.

However, these measures…though they may give some satisfaction that you have “given them the message”…unfortunately it will have zero impact on outcomes because the majority owner does not give a toss about the hopes and desires of minority holders (even though they will say that they do, and point to the interviews they did a while back with some of the larger minority shareholders. I went to one of those meetings and it really was just a formality).

In fact, having to write reports twice a year and vote on resolutions that are a foregone conclusion is just an annoyance to OGOG.

You can tell by the way they have written the AR just how much contempt they hold you guys in.

[Wiremu]

Yes, I agree that it is important for minority shareholders to express their feelings whenever they can by voting.

However, these measures…though they may give some satisfaction that you have “given them the message”…unfortunately it will have zero impact on outcomes because the majority owner does not give a toss about the hopes and desires of minority holders (even though they will say that they do, and point to the interviews they did a while back with some of the larger minority shareholders. I went to one of those meetings and it really was just a formality).

In fact, having to write reports twice a year and vote on resolutions that are a foregone conclusion is just an annoyance to OGOG.

You can tell by the way they have written the AR just how much contempt they hold you guys in.

Unfortunately can't argue with this.

[digger]

So will I. Have 1.5 million shares going no where in this rising energy market.

I have already told the company that I think NZO should be taken out by CUE. No future here with the greens having so much say in govt.

[Sideshow Bob]

Got the email, and voted already. Extremely easy.

Understand will make an XS amount of difference - but a least feel like have tried. ;)

[Waikaka]

Voted, don't mind barebones report if it means they are saving overhead.

I am worried that Ofer is using NZOG as an exploration arm and reviewing E&P projects on 'company dollar' but not much to be done about it.

[Sideshow Bob]

Amadeus acquistion completed.

AMADEUS BASIN ACQUISITION COMPLETED - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/380266)

[nztx]

SP seems to be being kicked northwards against the tide of red ;)

Has another massive potential strike been found ? ;)

[Joshuatree]

Global shortage energy.


Will ESG Create The Next Lehman Moment…??? (https://adventuresincapitalism.com/2021/09/29/will-esg-create-the-next-lehman-moment/)

[airedale]

Hi Joshua, is this where you are putting your SKY sale proceeds?

[mistaTea]

Hi Joshua, is this where you are putting your SKY sale proceeds?

Out of the frying pan and into the fire…

[JBmurc]

So will I. Have 1.5 million shares going no where in this rising energy market.

I have already told the company that I think NZO should be taken out by CUE. No future here with the greens having so much say in govt.

Now that would be a reverse T/O I'd like to see LOL

[Joshuatree]

Hi Joshua, is this where you are putting your SKY sale proceeds?

No but ive still got a residue holding in this stale dog, not planning on getting anymore but it may play catchup soon. There are many quality producers out there, good to have some energy exposure in your portfolio imo atpit. DYOR

[Davexl]

Good moves today & yesterday @ 50c up 5c, the market has finally woken up to the global energy shortage and is re-rating accordingly.

Of course this hs just happened AFTER I sold! but pleased especially for other long term holders / sufferers, finally getting something back...

[JBmurc]

Present Oil price $108bbl AUD ... around $9 off its intraday record HIGH ...could well have much Higher to run..

as we know Ofer Global is NZO largest S/H with 70% S/H .... (NZO also holds 50.1% of CUE)

Ofer Global must be swimming in free Capital ...with International shipping making record profits during recent times
https://www.oferglobal.com/shipping/

Maersk, the world’s largest shipper, expects its profits to rise this year to somewhere between 215% and 240% above pre-pandemic levels using earnings before interest, taxes, depreciation, and amortization, or EBITDA, as an imperfect measure of profits.
https://qz.com/2060904/ports-are-a-mess-but-shipping-company-profits-are-at-record-highs/


What happen to OG takeover of NZO which surely would mean the same for CUE ??

[mistaTea]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/380870/356808.pdf

Nice. Now you can pay even more in wage bills.

[Sideshow Bob]

356893.pdf (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/380907/356893.pdf)

50% of 12.5% and 800 barrels a day, that's 48 barrels for a day. Go NZO!

[nztx]

Market seems to got a sniff of something up ;)

[SPC]

Petroleum fumes?
Could get high if we're lucky.

[Sideshow Bob]

Another good morning. 58c.

Up almost 30% in the last 2 weeks!!

[nztx]

Another good morning. 58c.

Up almost 30% in the last 2 weeks!!


Definitely a sniff of good gas & oil lately ;)

Will $0.60 or even $0.70 be broken soon ? ;)

[Muzz1234]

I gave hope on this company two weeks to early before it started heading in right direction 🙄 oh well

[nztx]

I gave hope on this company two weeks to early before it started heading in right direction �� oh well


was very nearly the same .. but the last reports gave a bit of hope to recover the bundle of red ink
from a punt on Ironbark which came up dry :)

may still be some mileage left for those who walked away previously .. ;)

[Sideshow Bob]

I too almost gave up, but had felt that had reached the floor at the low 40's, especially given the cash backing and CUE holding. Glad I've held on to my XS holding to recover a little of the losses since Ironbark.

[Sideshow Bob]

Quarterly cashflow and activities report - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/381657)

$4.2m in admin for the quarter......

[JBmurc]

MAY21 IEA - CALLS FOR A HALT ON ALL NEW O&G DEVELOPMENTS

OCT21 -OPEC MUST LIFT OIL PRODUCTION LEVELS NOW!!!


https://twitter.com/equivestinvest/status/1454331264371154947/photo/2

BP-PRESENT OIL DEMAND HAS REACHED 100MMBOPD (BACK TO PRE COVID LEVELS)

[RTM]

MAY21 IEA - CALLS FOR A HALT ON ALL NEW O&G DEVELOPMENTS

OCT21 -OPEC MUST LIFT OIL PRODUCTION LEVELS NOW!!!


https://twitter.com/equivestinvest/status/1454331264371154947/photo/2

BP-PRESENT OIL DEMAND HAS REACHED 100MMBOPD (BACK TO PRE COVID LEVELS)

Yeah...its a strange thing..so unexpected (yeah right ).
People world wide still need oil for lotsa stuff. Heating, transport power generation, freight. V8 Supercars, F1 etc etc etc.
Happily holding some XOM.

[JBmurc]

Uses I'm sure will blow many a Greenie anti O&G mind >>>everyday everyone uses products made or shipped by Oil Gas etc...

https://www.capp.ca/oil/uses-for-oil/

the Anti OIL crowd are as nutty as the anti warming crowd so your'd like it to be cooling towards another ICE age ??

[Sideshow Bob]

Got to be a decent amount of revenue....?? Struggled to find the cost of gas in Oztrayla.

New Gas Supply Agreement - Amadeus Assets - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/383758)

New Zealand Oil & Gas is pleased to confirm it has entered a new gas supply agreement for supply of gas to Northern Territory’s Power and Water Corporation via a back-to-back agreement with Macquarie Mereenie Pty Limited.

The agreement will commercialise a portion of the increased production made available by the recent Mereenie development campaign, which saw two new production wells drilled and four existing wells recompleted. It will extend the period of production under contract.

New Zealand Oil & Gas’s gas will be aggregated with gas from Macquarie Mereenie, Cue Energy and Central Petroleum to supply a total of 12.6 PJ over 4 years, commencing 1 January 2022.

Andrew Jefferies commented “this is a great outcome, with the new agreement selling uncontracted gas at a price consistent with our expectations when buying the assets”.

[Sideshow Bob]

Amadeus Basin Update - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/385046)

20/12/2021, 11:54 amMKTUPDTEMereenie: -

The operator of the Mereenie joint venture, Central Petroleum Limited (ASX:CTP) (“Central”) has advised that a coil tubing unit is being mobilised to site in January to further improve production from a number of wells including some of the previous development campaign wells.

The planned programme is aimed at improving downhole well conditions with post 20prox. 35 TJ/d (Gross) level for Mereenie. We continue to monitor ongoing well performance across the field and will update reserves and production data as and when material new data is available.

Palm Valley and Dingo –
Planning continues for the previously announced Q1 2022 Palm Valley and Dingo exploration well programme.
The Ensign Rig 963 has been contracted by the permit Operator (“Central”) to drill Palm Valley -12/12A and Dingo-5 in the Amadeus Basin. The Rig is expected to begin mobilizing to the Palm Valley wellsite in late January 2022, with an anticipated spud in mid-February 2022. The Dingo-5 well will be drilled back-to-back with Palm Valley-12/12A.

The Palm Valley Operator (“Central”) has also advised that the existing Palm Valley -13 well continues to outperform expectations, with a slower decline than anticipated.

New Zealand Oil & Gas has a 17.5% interest in the Mereenie License, and a 35% interest in both the Dingo and Palm Valley Licenses; Cue Energy Resources has a 7.5% interest in the Mereenie License, and a 15% interest in both the Dingo and Palm Valley Licenses; New Zealand Oil & Gas owns 50.04% of Cue Energy Resources.

“It is good to be part of ongoing activity in the Amadeus fields”, says Andrew Jefferies CEO”. We are glad to see the rig contracted and look forward to the drilling campaign at Palm Valley and Dingo. There is a continuing work program at Mereenie to unlock the value there, and the coil tubing campaign is a logical next step in that process, as we digest the results of the development campaign as previously reported, and ongoing production.”

[Sideshow Bob]

MAHATO PSC UPDATE – PB-08 PRODUCTION WELL ONLINE - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/386871)

4/2/2022, 2:30 pm MKTUPDTENew Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has provided an update that oil production well PB-08 in the Mahato PSC, Indonesia, has been successfully drilled and completed and is producing an average of approximately 600 barrels of oil per day (bopd).
The update release is attached.
Cue has a 12.5% interest in the Mahato PSC. New Zealand Oil & Gas has a 50.04% interest in Cue.

[fish]

MAHATO PSC UPDATE – PB-08 PRODUCTION WELL ONLINE - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/386871)

4/2/2022, 2:30 pm MKTUPDTENew Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has provided an update that oil production well PB-08 in the Mahato PSC, Indonesia, has been successfully drilled and completed and is producing an average of approximately 600 barrels of oil per day (bopd).
The update release is attached.
Cue has a 12.5% interest in the Mahato PSC. New Zealand Oil & Gas has a 50.04% interest in Cue.

After Ironbark I now prefer this slow and steady development which might lead to dividends in the not too distant future .
Oil and gas look like they are going to have a very good year.

[Beagle]

After Ironbark I now prefer this slow and steady development which might lead to dividends in the not too distant future .
Oil and gas look like they are going to have a very good year.

Good decade more like. Think Kupe and GNE :D

[fish]

Good decade more like. Think Kupe and GNE :D

yes but price fossil fuels and gains or losses for GNE are too difficult for me to calculate .
Brent is now over $100 us .
An early bird catches the worm
Fortune maybe changing for NZO

[Sideshow Bob]

New Zealand Oil & Gas Half-Year Result 31 December 2021 - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/387932)

NEW ZEALAND OIL & GAS - HALF YEAR NET PROFIT AFTER TAX NZ$15.7M
• Net profit after tax improved by $58m on prior comparative period
• Revenue up 106% on prior comparative period
• More growth projects to come

Investment in growing production has delivered a net profit after tax of NZ$15.7 million in the six months to 31 December 2021 for New Zealand Oil & Gas (NZX: NZO; ASX:NZO). The result is a $58.0 million improvement on the loss of $42.3 million in the corresponding period last year.

The result reflects deferred tax asset recognition ($10.1 million); an increased contribution from NZO's Cue Energy Resources (ASX:CUE); three months contribution from Amadeus Basin assets; and lower exploration expenses.

The Group cash balance at 31 December 2021 was $33.4 million ($89.8 million a year prior). Net cashflow from operations was $6.9 million, an increase from $2.3 million a year earlier.

To take advantage of the growth opportunities in the portfolio, the business expects to need further cash in the near term and is reviewing funding options.
Revenue of $33.0 million was up 106% this period, compared to $16 million a year ago. Exploration expenses were $32 million lower than the prior comparative period.
The Group's Amadeus Basin assets contributed revenues of $9.8 million for the period from acquisition, on 1 October 2021, to 31 December 2021. If the Amadeus Basin assets were included for the full six months, the Group pro forma revenues would have been $41.2 million and net profit before tax would have been $3.1 million higher.
Kupe contributed revenues of $7.3 million, an increase of $1.4 million from revenues in the prior year as our compression project restored production to plateau levels of up to 77TJs per day.

Cue recorded a net profit after tax of $8.4 million for the period, up from a loss of $15.9 million a year ago. Cue's result included strong contributions from Amadeus Basin and production at Mahato in Indonesia.

The net profit after tax attributable to shareholders was $11.5 million, with resulting earnings per share up significantly. Earnings in the six months were 6.8 cents per share, compared to a loss of 20.5 cents per share in the corresponding period last year. Net asset backing was 73.0 cents per share, up from 61.9 cents, and net tangible asset backing was 67.0 cents per share, up from 60.8 cents.

Managing director Andrew Jefferies says, "Great to be in the black again. At New Zealand Oil & Gas we invest carefully in assets that have strong revenues, in good markets, with development opportunities."

“In the past six months we completed the acquisition of Amadeus Basin assets. Development of the Kupe field is squeezing more gas out. Our Cue asset benefitted from bringing new production online in Indonesia, as well as participating in the acquisition of the Amadeus Basin assets. These activities are already rewarding our investment.

“Looking ahead, there are further opportunities for development in the Kupe field, in the Amadeus Basin, and in Indonesia. These assets are supplying hydrocarbons into strengthening markets. Prices for gas in New Zealand are near record levels. Australian production is connected into markets where gas is being sought to replace coal. In Indonesia the energy market is constrained and the government is keen to see further development to support the recovery from COVID.

“We will require more cash to fund the business through this period of growth. The Board is reviewing funding options, including debt and equity. An action plan will be formulated and executed before year end."

Figures are in New Zealand Dollars and include 100% of Cue Energy Resources.

New Zealand Oil & Gas is listed on the NZX and ASX. It owns interests in the Kupe gas fields offshore S. Taranaki, New Zealand, and the Amadeus Basin in Australia’s Northern Territory. Through its 50.04% controlling interest in ASX-listed Cue Energy Resources, it has further interests in the Maari oil field offshore S. Taranaki New Zealand, the Mahato oil and gas production sharing contract in Sumatra, and the Sampang oil and gas PSC in East Java, Indonesia.

Wellington, New Zealand headquartered, New Zealand Oil & Gas was founded in 1981. It is the only New Zealand Oil & Gas company to have proudly achieved a Rainbow Tick, and offsets carbon emissions through Trees That Count.

[Sideshow Bob]

“We will require more cash to fund the business through this period of growth. The Board is reviewing funding options, including debt and equity. An action plan will be formulated and executed before year end."
Pity they didn't do a little more when assets were cheap (well that and also that Ironbark failed).

[Joshuatree]

This spat in my portfolio may yet turn into an oily oyster.

[fish]

This spat in my portfolio may yet turn into an oily oyster.

Hopefully.
assets are growing as is production and coupled with oil now at $105 profits will grow

[fish]

With natural gas prices more than doubling in the past 12 months I find it surprising the sp has not reflected this .
Perhaps it’s anticipation of capital raising .
It is not clear to me why this is necessary-or if it still needed with increasing profits ,no debt,and a healthy sum banked.

[Sideshow Bob]

With natural gas prices more than doubling in the past 12 months I find it surprising the sp has not reflected this .
Perhaps it’s anticipation of capital raising .
It is not clear to me why this is necessary-or if it still needed with increasing profits ,no debt,and a healthy sum banked.

I think because there are plenty of other oily fish in the sea (pardon the pun), have a poor track record, and a major shareholder who simply treats minorities with disdain.

[mistaTea]

I think because there are plenty of other oily fish in the sea (pardon the pun), have a poor track record, and a major shareholder who simply treats minorities with disdain.

Yep, and the SP will never reflect 'intrinsic value' even if they lift earnings, oil and gas prices increase etc because the stock is not liquid. Investors are only prepared to pay fair value (or even a premium) for liquidity. If you bought a meaningful amount of NZO shares you might not be able to sell them in the future for a fair price - or it would take you ages anyway!

Then there is the fact that OGOG are running the show and given their history towards minority holders, if you buy in now you would have to be very comfortable being a silent partner in what is essentially now being run like a private business.

[Joshuatree]

Most of my energy producer stocks are in Aus,some are booming some like NZOG will catch up.No way do I want no NZ exposure as I believe we are in unprecented times and that Russia/Ukraine aside ,globally ,we are in a serious deficit of energy and despite management's history, NZO is "sure to rise". I would not be surprised if we reach $150 oil in the next few years. My opinion ,DYOR.

[JBmurc]

Yep, and the SP will never reflect 'intrinsic value' even if they lift earnings, oil and gas prices increase etc because the stock is not liquid. Investors are only prepared to pay fair value (or even a premium) for liquidity. If you bought a meaningful amount of NZO shares you might not be able to sell them in the future for a fair price - or it would take you ages anyway!

Then there is the fact that OGOG are running the show and given their history towards minority holders, if you buy in now you would have to be very comfortable being a silent partner in what is essentially now being run like a private business.

But at some point OGOG are going to want to realise some value from their controlling 70% NZO stake ..esp. if O&G prices continue higher .. what was their plan ? BUY and hold forever ...isn't ICE coming to an end ... surely they will want to T/O CUE via scrip deal merge all interests projects ..drop the NZX listing(whats the point ?) ..and see new ASX listing .. transform into a 150-200m Energy player thats goal is to grow production and to return some of the profits to S/Hs

[mistaTea]

But at some point OGOG are going to want to realise some value from their controlling 70% NZO stake ..esp. if O&G prices continue higher .. what was their plan ? BUY and hold forever ...isn't ICE coming to an end ... surely they will want to T/O CUE via scrip deal merge all interests projects ..drop the NZX listing(whats the point ?) ..and see new ASX listing .. transform into a 150-200m Energy player thats goal is to grow production and to return some of the profits to S/Hs

The quoted value of NZO is of little consequence for them.

What other small investors pay to trade their shares on the open market is irrelevant.

All they will be interested in is how NZOG can be used as a strategic asset to eventually generate a high ROIC for them.

Whether the SP ever reflects full value is not important. What is important is NZO becoming a good earner for them so that they can get hold of the majority of the distributable FCF in the future so that they (OGOG) can use it to make other investments, possibly in other parts of the world.

They will view NZO as a private business with a few extra hoops they have to jump through to satisfy NZX/ASX listing rules.

I say again, If you invest in NZO you have to be comfortable with all of the above. And don’t be shocked if the SP does not move much even when there is positive news. The lack of liquidity will put most investors off.

[Sideshow Bob]

The quoted value of NZO is of little consequence for them.

What other small investors pay to trade their shares on the open market is irrelevant.

All they will be interested in is how NZOG can be used as a strategic asset to eventually generate a high ROIC for them.

Whether the SP ever reflects full value is not important. What is important is NZO becoming a good earner for them so that they can get hold of the majority of the distributable FCF in the future so that they (OGOG) can use it to make other investments, possibly in other parts of the world.

They will view NZO as a private business with a few extra hoops they have to jump through to satisfy NZX/ASX listing rules.

I say again, If you invest in NZO you have to be comfortable with all of the above. And don’t be shocked if the SP does not move much even when there is positive news. The lack of liquidity will put most investors off.

Bit like MCK - completely different sector, but wealthy majority shareholder that has no interest in the quoted share price, with no chance of any corporate action. The share price is trading well, well below NTA, relatively illiquid - but no way for minorities to realise the full value. Almost a token divvy and no capital returns.

Bit like NZO, almost forgotten about on the NZX.

[JBmurc]

The quoted value of NZO is of little consequence for them.

What other small investors pay to trade their shares on the open market is irrelevant.

All they will be interested in is how NZOG can be used as a strategic asset to eventually generate a high ROIC for them.

Whether the SP ever reflects full value is not important. What is important is NZO becoming a good earner for them so that they can get hold of the majority of the distributable FCF in the future so that they (OGOG) can use it to make other investments, possibly in other parts of the world.

They will view NZO as a private business with a few extra hoops they have to jump through to satisfy NZX/ASX listing rules.

I say again, If you invest in NZO you have to be comfortable with all of the above. And don’t be shocked if the SP does not move much even when there is positive news. The lack of liquidity will put most investors off.

.. but unless OG take full control of NZO they will share this forward FCF distribution with the rest of S/Hs ... and unless they take full control of CUE ...its only a blocking stake to other interests ..

It only makes sense to merge and streamline operations if OG want the most ROI ...

disc -Holding & buying more CUE ..

I could be wrong and OG don't give a rats ass about their 55mill investment and present status continues for years

Meantime ... I'm forward planning to BUY more CUE ...maybe even double my holding to 5mill shares... esp if our Aussie Deeper Gas drills come in>>

[fish]

[QUOTE=mistaTea;950715]Yep, and the SP will never reflect 'intrinsic value' even if they lift earnings, oil and gas prices increase etc because the stock is not liquid. Investors are only prepared to pay fair value (or even a premium) for liquidity. If you bought a meaningful amount of NZO shares you might not be able to sell them in the future for a fair price - or it would take you ages anyway!

Thanks for your input mistatea .
Agree the sp will never reflect the intrinsic value we both know exists .
My view is that there has been a massive increase in the value of this company since you understandably sold out following Ironbark.
there are no more high risk/high risk drills.
Amadeus was bought into at the right time and is a great investment .
Australia has lots of coal seam gas ,pipelines and lpg plants plus favourable politics.
NZo is in a good place now .
Free Cash Flow is much increased.
Natural gas price was 250 12 months ago and today is 609 so I expect fcf flow will more than double this year .
The negatives you point out where present when you may have bought in .
they remain but I feel are mitigated by recent developments.
If ogog want to be able to use the fcf to best help their group then clearly they need to buy out the minority shareholders-this has to be at a fair and reasonable price so the sooner they do this the cheaper it will be.
If they do not takeover then both ogog and minority shareholders will get good dividends .
Hence I will be holding for as long as this takes

[mistaTea]

NZo is in a good place now .
Free Cash Flow is much increased.
Natural gas price was 250 12 months ago and today is 609 so I expect fcf flow will more than double this year .
The negatives you point out where present when you may have bought in .
they remain but I feel are mitigated by recent developments.
If ogog want to be able to use the fcf to best help their group then clearly they need to buy out the minority shareholders-this has to be at a fair and reasonable price so the sooner they do this the cheaper it will be.
If they do not takeover then both ogog and minority shareholders will get good dividends .
Hence I will be holding for as long as this takes

All good points - and if you are happy with how the business is developing, the earnings/FCF profile etc then you can hold your shares feeling very Zen! As the company starts paying dividends you will begin to generate a return and the SP should increase somewhat.

My point was exclusively about observable 'price action' (or lacktherof) despite positive developments. You cannot expect the NZO SP to behave like a normal listed company because of all the reasons I point out.

If you are happy with that (as you are given you are in this for the long term) then fantastic and it may turn out to be a good little earner for you down the line.

If anyone is more concerned with price action then I would say you might want to think long and hard before buying NZO regardless of how good the Balance Sheet might look!

[Joshuatree]

[QUOTE=mistaTea 950715]Yep, and the SP will never reflect 'intrinsic value' even if they lift earnings, oil and gas prices increase etc because the stock is not liquid. Investors are only prepared to pay fair value (or even a premium) for liquidity. If you bought a meaningful amount of NZO shares you might not be able to sell them in the future for a fair price - or it would take you ages anyway!

Thanks for your input mistatea .
Agree the sp will never reflect the intrinsic value we both know exists .
My view is that there has been a massive increase in the value of this company since you understandably sold out following Ironbark.
there are no more high risk/high risk drills.
Amadeus was bought into at the right time and is a great investment .
Australia has lots of coal seam gas ,pipelines and lpg plants plus favourable politics.
NZo is in a good place now .
Free Cash Flow is much increased.
Natural gas price was 250 12 months ago and today is 609 so I expect fcf flow will more than double this year .
The negatives you point out where present when you may have bought in .
they remain but I feel are mitigated by recent developments.
If ogog want to be able to use the fcf to best help their group then clearly they need to buy out the minority shareholders-this has to be at a fair and reasonable price so the sooner they do this the cheaper it will be.
If they do not takeover then both ogog and minority shareholders will get good dividends .
Hence I will be holding for as long as this takes

Agree ,and if what I believe is happening and what others are not picking up on,oil,gas coal are in long-term deficit and it's going to take a long time(I really hope not but being pragmatic) before green energy displaces them.Im more than happy to park some dough here.It will be a very low risk safe park imo with volatility ahead for global equities,and lucrative I believe as well.DYOR

[Sideshow Bob]

Investor Preso......

2022-03 NZO New Investor presentation v17f (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/390787/369016.pdf)

[Onthemoney]

Investor Preso......

2022-03 NZO New Investor presentation v17f (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/390787/369016.pdf)

There must be one hell of a countdown for this rocket. Or has it failed to launch?

[Waiuta]

I think management have hidden the matches. Graphs tell a good story but I'm convinced this is run for the execs with very little consideration for the rank and file shareholders.

[Beagle]

I think management have hidden the matches. Graphs tell a good story but I'm convinced this is run for the execs with very little consideration for the rank and file shareholders.

That sums up my assessment of the company and to me its seems things never change even when management do and its been that way since I first invested in it 40 years ago. Thankfully I woke up and smelled the coffee a very, very long time ago.

[Chippie]

I am with Beagle as a long time holder. Really glad I got out when I did. I expect most other large investors already know the history

[mistaTea]

I am with Beagle as a long time holder. Really glad I got out when I did. I expect most other large investors already know the history

Yes I agree with Beagle too.

It wouldn’t matter how glossy their presso was…I would not invest in this business again in its current state.

[fish]

There must be one hell of a countdown for this rocket. Or has it failed to launch?

The rocket is still being constructed and then it has to be fuelled .

[nztx]

Only one thing missing from the NZOG Rocket presentation - past dividend record
and no mention of any anticipated dividend next week, month or 100 years from now ;)

Who were NZOG trying to impress with this document ? - the man in the moon ? ;)

Shares in this outfit look like holding a few new spare parts in an old bicycle that may never
be needed to be used :)

It's difficult to determine whether minor stakeholders in CUE or NZOG are any more than captive holders
along for the ride like small puppets seated alongside the offshore majority holder of the Group & Show :)

[fish]

Only one thing missing from the NZOG Rocket presentation - past dividend record
and no mention of any anticipated dividend next week, month or 100 years from now ;)

Who were NZOG trying to impress with this document ? - the man in the moon ? ;)

Shares in this outfit look like holding a few new spare parts in an old bicycle that may never
be needed to be used :)

It's difficult to determine whether minor stakeholders in CUE or NZOG are any more than captive holders
along for the ride like small puppets seated alongside the offshore majority holder of the Group & Show :)
LOL
Yes we are along for the ride and it looks exciting.
OGOG are driving and I feel a lot safer than before they took over

[Grimy]

Safer perhaps, but not sure I'm any happier......

[fish]

Safer perhaps, but not sure I'm any happier......

Understandable .
It blew my mind recently when I estimated the value of their p50 gas reserves-and since then natural gas prices have doubled and still increasing .
They have made the right move at the right time into Australian gas -a favourable decision by expert directors .

[mistaTea]

Understandable .
It blew my mind recently when I estimated the value of their p50 gas reserves-and since then natural gas prices have doubled and still increasing .
They have made the right move at the right time into Australian gas -a favourable decision by expert directors .

And yet the market comtinues to disagree with your bullish sentiment. Company still statistically undervalued despite these expert directors making 'extraordinary' investments.

Lookit, I own shares in Sky TV. By now I can sniff a value trap a mile away!

[fish]

And yet the market comtinues to disagree with your bullish sentiment. Company still statistically undervalued despite these expert directors making 'extraordinary' investments.

Lookit, I own shares in Sky TV. By now I can sniff a value trap a mile away!

Absolutely it could remain as a value trap
My hound (not beagle ) has also been sniffing and is convinced dividends will start to be paid around 2024 when cash flows will reap the benefits of the enormous demand for Australian natural gas

[Lion]

Understandable .
It blew my mind recently when I estimated the value of their p50 gas reserves-and since then natural gas prices have doubled and still increasing .
They have made the right move at the right time into Australian gas -a favourable decision by expert directors .

fish, would you care to share those figures ?

I'm still holding NZO and CUE. I sold down about half the former and bought more CUE.
I still think things are going to look up, with recent acquisitions and increasing energy prices.
OGOG want to make a profit, of course, and we're going along for the ride.

Still grieving for Ironbark though . . . .

[fish]

Sorry Lion it was a back of envelope calculation a couple of months ago and I am away from home for 10 days even if I still have it.
It was an order of magnitude higher than current sp-likely I have no aptitude for this kind of valuation-or could the market be driven by past negative emotion about NZO ?
In this weeks presentation the asset value per share equates to about 130 cents but It looks to me that the recent enormous increase in gas prices is going to be sustained so would multiple the valuation.

[Joshuatree]

The way energy shortage and pricing is going I want exposure to it.This is the only NZ company I can park some $ (a smallish amount).Im fully aware of management's past records(not good) and consider this as a minimal risk of downside and a high risk of some upside,waay better then sitting on call.Park and Ride,a safe value trap atp with upside IF you believe in the unfolding energy crisis.
Not invest advice ,do your own research..

[Sideshow Bob]

New Zealand Oil & Gas Limited (NZX: NZO, ASX: NZO) announces an equity raising of up to NZ$25 million through a 1-for-2.7625 renounceable rights offer.
Included in this announcement:
- Offer announcement;
- Investor presentation;
- Cleansing Notice; and
- NZX Corporate Action Notice

NEW ZEALAND OIL & GAS ANNOUNCES UP TO NZ$25 MILLION EQUITY - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/391046)

[mistaTea]

https://www.nbr.co.nz/node/234217?utm_medium=email&utm_source=Heads%20Up

Hand over more cash or be diluted.

OGOG won't mind...another opportunity for them to increase their holding %.

"The equity raise is supported by New Zealand Oil & Gas’ largest shareholder – O.G. Oil and Gas Singapore PTE (OGOG) with a 69.86% stake - which has committed to taking up its $17.465m share of the offer and to take up any shortfall, subject to the regulatory restrictions described above."

[Sideshow Bob]

https://www.nbr.co.nz/node/234217?utm_medium=email&utm_source=Heads%20Up

Hand over more cash or be diluted.

OGOG won't mind...another opportunity for them to increase their holding %.

"The equity raise is supported by New Zealand Oil & Gas’ largest shareholder – O.G. Oil and Gas Singapore PTE (OGOG) with a 69.86% stake - which has committed to taking up its $17.465m share of the offer and to take up any shortfall, subject to the regulatory restrictions described above."

Have to be cynical about this, and agree, again OG taking the opportunity to increase their holding.

NZO have a history of squandering cash. The next quarterly update should be literally any day now, but at the end of 2022, they had over $33m.

They just came out with their shareholder presentation exactly 1 week ago. 2022-03 NZO New Investor presentation v17f (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/390787/369016.pdf)

Page 11, they have for the 6 months to June 22 revenue approaching $50m, net operating cashflow close to $20m, and cash balance pretty close to same as end of 2021, so around $30-33m. Net investing cashflow in the half year of around $20m.

Now a week later they decide to raise cash? For Amadeus, a new well for Kupe (which they own 4% of), and POTENTIAL support for Cue if they decide to further develop assets.

They're making this up on the fly, right??

[fish]

https://www.nbr.co.nz/node/234217?utm_medium=email&utm_source=Heads%20Up

Hand over more cash or be diluted.

OGOG won't mind...another opportunity for them to increase their holding %.

"The equity raise is supported by New Zealand Oil & Gas’ largest shareholder – O.G. Oil and Gas Singapore PTE (OGOG) with a 69.86% stake - which has committed to taking up its $17.465m share of the offer and to take up any shortfall, subject to the regulatory restrictions described above."
To me the value of the assets and potential(soon to be realised ) is many times the share price .
The rights issue is not the concern .
It is the move to asx and loss of important nz minority shareholders rights is of great concern .

[mistaTea]

Have to be cynical about this, and agree, again OG taking the opportunity to increase their holding.

NZO have a history of squandering cash. The next quarterly update should be literally any day now, but at the end of 2022, they had over $33m.

They just came out with their shareholder presentation exactly 1 week ago. 2022-03 NZO New Investor presentation v17f (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZO/390787/369016.pdf)

Page 11, they have for the 6 months to June 22 revenue approaching $50m, net operating cashflow close to $20m, and cash balance pretty close to same as end of 2021, so around $30-33m. Net investing cashflow in the half year of around $20m.

Now a week later they decide to raise cash? For Amadeus, a new well for Kupe (which they own 4% of), and POTENTIAL support for Cue if they decide to further develop assets.

They're making this up on the fly, right??

Well, they clearly have a plan for projects they want to exploit. And there will be good reasoning behind why they want $25M for the various initiatives...OGOG would not waste $17.5M+ of their share for nothing.

But everyone just has to understand that NZOG is effectively run like a private company now. Whatever OGOG want to do is what is going to happen.

That is not necessarily a bad thing, as these guys do have a lot experience in O&G, and clearly think there is money to be made in this part of the world.

But due to the illiquidity of the stock, the SP will always languish relative to what it is theoretically worth (based on earnings, equity multiples etc). If these projects come good then long term shareholders might look forward to a decent return in the future by way of dividends...

But that is a gamble, because the dividends will be such piddly sums (by OGOG standards) and subject to tax. They are more likely to do what anyone would do if they were a big conglomerate that owned NZO privately (which is what they effectively do right now as stated above) - and that is reinvest the earnings into bigger projects.

That is the right way to go from an investment perspective (it's what I would do!). But this process can take many years with no guanrantees...and in the meantime minority sharehoders have to sit tight with no dividend and a low SP (so zero return).

NZO might still be a good investment to the right personality type with long investment horizons...but as I have said before, you have to be comfortable going along for the ride with whatever takes OGOG's fancy. If you don't like something they decide on, even if you got every single minority shareholder to vote with you it will come to naught.

[Chippie]

Have to be cynical about this, and agree, again OG taking the opportunity to increase their holding.

They're making this up on the fly, right??

I believe you are correct

[nztx]

Thought NZO already had quite a Cash pile ?

Is this a last "Screw the Kiwi Stakeholders Over" before basically migrating to ASX ? ;)

Hope ASX take careful note of the major Stakeholder's playbook carried out
on NZX :)

[Joshuatree]

To me the value of the assets and potential(soon to be realised ) is many times the share price .
The rights issue is not the concern .
It is the move to asx and loss of important nz minority shareholders rights is of great concern .

Yeah agree.Its a perfect storm for oil and gas for many years.Fish Aussies love little oilers and the liquidity will improve greatly,especially in this hot,sexy,lubricating sector.

[Sideshow Bob]

Yeah agree.Its a perfect storm for oil and gas for many years.Fish Aussies love little oilers and the liquidity will improve greatly,especially in this hot,sexy,lubricating sector.

Whats the use of being on the ASX, as OG own 70%??

[Sideshow Bob]

I see the market is excited by it all....27k traded and down 1c :sleep:

[Joshuatree]

What sector would you like exposure to ATM,if you've been paying attention and looking at the big picture globally.Disclose this is the smallest and lowest quality energy stock I hold,my biggest and best is Woodside.

[mike2020]

I think its cash to get more of CUE and then leave the nzx holders in the rearview.

[fish]

I think its cash to get more of CUE and then leave the nzx holders in the rearview.

Do you mean buying cue shares ?
Possibly some kind of takeover eg NZo shares and some cash for cue holders?
With natural gas prices so high-and looking staying that way it makes sense to spend now to increase production.

[mike2020]

They are talking about lending money to CUE. Getting a better hold any way they can without bumping up the sp. Looks sus

[nztx]

They are talking about lending money to CUE. Getting a better hold any way they can without bumping up the sp. Looks sus


then will converting loans into CUE shares follow, or potentially a merger of NZO & CUEbe on the cards, seeing as both
may as well be considered to reside on the other side of the ditch listing wise and under Aussie rules ?

[Sideshow Bob]

Closed at 49c. Goes to show what holders think of the cap raise.

[Beagle]

Reminds me of the old days with Tony Radford and the way they circled the wagons with Mineral Resources, United Resources and NZOG.
No need to reinvent the wheel, just get the old playbook out and tweak it a bit.

Agreed Sideshow Bob. Just raising capital so management can keep themselves well cared for. Shares were $1.40 way back in the early 1980's at 1980's money, should be several dollars now 40 years later just to keep pace with inflation.

Its been a lucrative gig for management over the decades but an appalling long term investment for shareholders.
Just as well this time its different, and they will develop their reserves and generate mega cash flow and make massive payments to shareholders or will they ? I reckon this is nothing but a gamblers stock and the best strategy is to sell when they're drilling and buy back when they hit a dry hole. Might have done that myself a few times over the years :D but I lost the taste for it after the Pike River Coal disaster.

[fish]

They are talking about lending money to CUE. Getting a better hold any way they can without bumping up the sp. Looks sus
Yes reading the announcement it looks as if this is part of it.
Disappointing and I wonder why .
Will not help sentiment .
I intend to take up the rights offer as otherwise the value of my investment in NZo will fall further.

[JBmurc]

Whats the use of being on the ASX, as OG own 70%??

not point in NZO listing at all .OG should just buy out the last 30% of NZO S/H's and go private ...then come for CUE ... personal think thats the plan.. in time CUE certainly doesn't want to promote operations or future upside in operations ...

[digger]

not point in NZO listing at all .OG should just buy out the last 30% of NZO S/H's and go private ...then come for CUE ... personal think thats the plan.. in time CUE certainly doesn't want to promote operations or future upside in operations ...

I really don,t know what to make of all this.Sounds like OG are plotting to get NZO and Cue as cheap as possible by overloading us with a unneeded cash issue. Like they could have easily borrowed this money if it is needed at all.
So in the future they could again come up with a need to expand forever and a day requiring more money,each time getting the unapplied non takeup. A back way of getting past 90% eventually.
I also wonder if OG is sulking a bit over our rejection of the the takover failure a few years ago when we all just wanted to take part in Ironbark. Is this a way of getting back.
I am still thinking about what is the best action to take.

[Grimy]

I'm out. Seems like they are just having a laugh. At holders expense (literally.....). I don't care how good the prospects are, or how good the current situation is (both great I think). This is just treating holders as playthings.

[SPC]

Agree. NZO are already sitting on a pile of cash. I think OGOG are simply exacting their revenge on holders who wouldn't sell out prior to the Ironbark drill. I think remaining shareholders will be used and abused by OGOG until they exit the NZX altogether.

[fish]

I really don,t know what to make of all this.Sounds like OG are plotting to get NZO and Cue as cheap as possible by overloading us with a unneeded cash issue. Like they could have easily borrowed this money if it is needed at all.
So in the future they could again come up with a need to expand forever and a day requiring more money,each time getting the unapplied non takeup. A back way of getting past 90% eventually.
I also wonder if OG is sulking a bit over our rejection of the the takover failure a few years ago when we all just wanted to take part in Ironbark. Is this a way of getting back.
I am still thinking about what is the best action to take.

I do not believe it’s revenge .
More likely a shrewd business move by ogog that will advantage them-they will increase their holding in the company at 42 cents a share .
Minority shareholders that cannot afford to convert their options lose..
I have a margin lending account so can and will borrow for this-might even ask for more shares than allocated .
We do need independent directors that represent minority holders.

[digger]

We do need independent directors that represent minority holders.

That would be great. I think NZX should change the law so that does happen,in a case like this where OGOG can block any attempt to have an indepentent director. Like Putin they simply claim the current directors represent us. They do not. So any ideas how we could go about getting a true director to have a say for minor holders
On another point if we move to AUS future dividends if they ever occure can not get the tax back. At least I can not on Horizon [HZN} that they had 6 months ago. A problem with moving to Aus.

[mistaTea]

T So any ideas how we could go about getting a true director to have a say for minor holders
O.

You will never have any truly independent directors. Only handpicked 'friendlies' for OGOG.

Short of a law change (which is never going to happen, and would probably have unintended consequences anyway) you guys are stuck with Putin I am afraid.

Even buying CUE shares right now is questionable, given the looming presence of OGOG.

[fish]

That would be great. I think NZX should change the law so that does happen,in a case like this where OGOG can block any attempt to have an indepentent director. Like Putin they simply claim the current directors represent us. They do not. So any ideas how we could go about getting a true director to have a say for minor holders
On another point if we move to AUS future dividends if they ever occure can not get the tax back. At least I can not on Horizon [HZN} that they had 6 months ago. A problem with moving to Aus.

I know one big minority shareholder recently sent a proposition on this to NZo .I have never seen any attempt from the so called independent directors to engage with minority shareholders let alone represent them.
Looking at todays quarterly report with 39 million cash and good cash flow personally it is difficult to see why 25 million more is being sought from shareholders.
I have no expertise on tax credits but would not imagine moving the listing to full asx should make any difference .

[CD_CHCH]

We only have a small holding but will take part in the capital raise. Yes the company's track record isn't great and a lot of money has been wasted over the years, but the current mix of assets looks promising and given the price and demand for oil and gas lately the future is looking better

[Grimy]

We only have a small holding but will take part in the capital raise. Yes the company's track record isn't great and a lot of money has been wasted over the years, but the current mix of assets looks promising and given the price and demand for oil and gas lately the future is looking better
Yes the future is indeed looking better. The question is, is it looking better for the company, or the shareholders? With years of hindsight I'm not betting on the shareholders.....

[fish]

Yes the future is indeed looking better. The question is, is it looking better for the company, or the shareholders? With years of hindsight I'm not betting on the shareholders.....
Looking better for both-apart from those minority shareholders who have difficulty raising cash.
The company will have a healthy positive flow from 2024 and have said they will be paying dividends from then .

[Joshuatree]

https://www.rt.com/business/554668-world-bank-prices-shock-ukraine/
Why I'm holding Energy stocks.

[JBmurc]

Yes OG is forcing NZO and CUE into growing assets and development which in turn will give them more ownership through rights issue..

From CUE Qty>>
-Cue has agreed a term sheet for a $7 million loan from New Zealand Oil & Gas (NZOG) to support planned and future development and exploration activities and "new ventures"??...

AUD spot oil $147bbl

I agree OG will come for 90.1% NZO soon enough but maybe they hope NZO will have a chance to secure more of CUE first ..

OGOG can play all the games they want ..but I don't see them securing 90.1% of CUE on the cheap ..outside NZO .. 27% are held by the other TOP20 S/H's most long suffering S/H that want more than a couple peanuts over what CUE owes them to sell out >>>

[Sideshow Bob]

Market loving the capital raise - down circa 10% since announced and 20% off 1 year highs.

Can wait until the oil price races up with some sort of geo-political conflict, and gas also in strong demand/pricing. That would put some sort of a rocket under the share price.....;)

[SPC]

Could NZO holders please advise pro's and cons of transferring NZX listed NZO shares to the ASX (as offered in the upcoming rights issue). Thanks ..

[fish]

Could NZO holders please advise pro's and cons of transferring NZX listed NZO shares to the ASX (as offered in the upcoming rights issue). Thanks ..
I am no expert on this but intend to transfer all to asx for the simple reason that if I ever need to sell some shares it should be much easier-I hold a lot and feel aussies would be more enthusiastic to buy.
Resource stocks are out of favour here but much better understood on the ASX .
I do not know of any significant cons.

[Snoopy]

I do not know of any significant cons.


What about Ned Kelly? Or Rolf Harris for that matter? Surely you know of them ;-)?

SNOOPY

[RTM]

I am no expert on this but intend to transfer all to asx for the simple reason that if I ever need to sell some shares it should be much easier-I hold a lot and feel aussies would be more enthusiastic to buy.
Resource stocks are out of favour here but much better understood on the ASX .
I do not know of any significant cons.

I guess you could transfer them back to the NZX should you want to in the future ? I transferred some Westpac and ANZ stock relatively recently.

[digger]

I do not know of any significant cons.

i found that with shares in AUS,you do not get all the tax claim back. This happened to me with HZN last june 21.
I am still very supportive of moving to AUS and as a large holder in the top 20 nzo did contact me rgarding my thoughts on raising some money and would I support it. At the time I did say that I thought
NZO in NZ had no real future at least in the forseeable future.I wanted a reverse takeover of NZO by cue,but doing it this way sort of gets it to AUS in any event.
I also have a second 'CON'. I wonder if an oil company headed by NZ will do well in AUS. Could end up with an under arm bowl. Still think here that a big oil and gas should be headed by CUE
I will be taking up 2/3 of my rights. All I can spare

[fish]

What about Ned Kelly? Or Rolf Harris for that matter? Surely you know of them ;-)?

SNOOPY
Thanks for the concern .
Yes it could be very dangerous to visit the bush camp NZO have near Alice springs .
I am hoping there will be lots of greedy robbers looking to invest their loot in Natural gas

[JBmurc]

i found that with shares in AUS,you do not get all the tax claim back. This happened to me with HZN last june 21.
I am still very supportive of moving to AUS and as a large holder in the top 20 nzo did contact me rgarding my thoughts on raising some money and would I support it. At the time I did say that I thought
NZO in NZ had no real future at least in the forseeable future.I wanted a reverse takeover of NZO by cue,but doing it this way sort of gets it to AUS in any event.
I also have a second 'CON'. I wonder if an oil company headed by NZ will do well in AUS. Could end up with an under arm bowl. Still think here that a big oil and gas should be headed by CUE
I will be taking up 2/3 of my rights. All I can spare

Makes sense Digger >> But it seems everything is up to OG Energy... they seem to like holding a Large position in NZO that hardly trades and has to spend millions in admin ASX/NZX listing costs for what reason ? ..I don't get it... CUE is of course tainted by NZO 50.1% controlling stake and not liked by the ASX market to see any type of fair value ....

[JBmurc]

I am no expert on this but intend to transfer all to asx for the simple reason that if I ever need to sell some shares it should be much easier-I hold a lot and feel aussies would be more enthusiastic to buy.
Resource stocks are out of favour here but much better understood on the ASX .
I do not know of any significant cons.

Have you ever followed the ASX listing ??? it hardly trades ....Aussies don't seem to want a bar of NEW Zealand O&G... better chance selling on the NZX as what other options you guys got on the NZX for O&G companies ?

[fish]

I am expecting a big movement to ASX from shareholders taking up the options .
The NZx most likely will have few nzo shares trading next month

[Sideshow Bob]

Tried to apply for more than my entitlement through the link/email received yesterday. Wouldn't let me apply for more than my entitlement.....:confused:

[Waiuta]

Tried to apply for more than my entitlement through the link/email received yesterday. Wouldn't let me apply for more than my entitlement.....:confused:

I tried to apply for more than my entitlement in that first screen which bought up a notice about applying for more than I should. So, I applied for my full entitlement, completed that screen which bought up another where I could apply for extras which I did. My entitlement and extras were accepted through another screen which led to payment procedure and an email acknowledgement. Hope that helps.

[Sideshow Bob]

I tried to apply for more than my entitlement in that first screen which bought up a notice about applying for more than I should. So, I applied for my full entitlement, completed that screen which bought up another where I could apply for extras which I did. My entitlement and extras were accepted through another screen which led to payment procedure and an email acknowledgement. Hope that helps.

Thanks Waitua - much appreciated. I'm not super keen to put extra money in, but if buying a few extras makes for a few less for OG, then all good.

[JBmurc]

I am expecting a big movement to ASX from shareholders taking up the options .
The NZx most likely will have few nzo shares trading next month

Really NZO so far on the ASX-- ZERO trades .. 1300 Bids 34.5c. --- 829 Sells 42.5c ..... woeful for a 70MILL O&G COMPANY

[fish]

Reality is that approx 90% or more of shares will move from nzx to asx hence expect most of the trading will be there .
NZO have reaffirmed no dividends for one to three years .
Hopefully with natural gas prices nearly tripling in the past year we will get dividends again within 2 years.
NZO have also stated their priorities in allocation and scaling of rights not taken up .They appear last in priority which looks more than fair to me

[Sideshow Bob]

From the NZO "sounds promising file" #7153:

AMADEUS OPERATIONS UPDATE 11 MAY - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/391834)

[Lion]

Reality is that approx 90% or more of shares will move from nzx to asx hence expect most of the trading will be there .

Fish, could you or some other kind soul tell me the pro's and con's of transferring my shares from the NZX to ASX?

[fish]

Fish, could you or some other kind soul tell me the pro's and con's of transferring my shares from the NZX to ASX?
I am converting my rights and transferring all to asx in the expectation that most nzx holders will be doing this after the recent notification of the rights and offer to transfer shares .
The shares should be far more liquid on asx after this happens .
If you never envisage the need to quickly sell your shares I cannot see any cons to remaining nzx

[JBmurc]

I am converting my rights and transferring all to asx in the expectation that most nzx holders will be doing this after the recent notification of the rights and offer to transfer shares .
The shares should be far more liquid on asx after this happens .
If you never envisage the need to quickly sell your shares I cannot see any cons to remaining nzx

I will wait with baited breath to see NZO trade volumes ... the whole 490 shares traded on the ASX today .. I see CUE had some 249k of volume peanuts ... now has a Market value 48Mill ... 35mill EV ....interests just in the latest NT Aus deep drill Gas targets

CUE might well add 20-30PJ net just from present 2x deep drills(And now we have this Pacoota 1-3 that look large in the Diagram) ... so say $30Gj( spot gas hit $30/Gj overnight in Victoria) .... thats like $30mill per PJ ..

CUEs Worth a touch more than one PJ !!!!!!!!!!! ..

Nothing for the 4x income streams Muti Permit interest across NZ/AUS/INDO ...Nothing for the other 20+PJ exploration upside ..Nothing for the 2C Reserves in place

Nuts!!

If I won Million in cash tomorrow ... I'd be putting down a 7.5Mill Bid on CUE ASAP and try take my position to 1million..Its a no Brainer as I've ever seen in my 19yrs in the market

[Joshuatree]

I am converting my rights and transferring all to asx in the expectation that most nzx holders will be doing this after the recent notification of the rights and offer to transfer shares .
The shares should be far more liquid on asx after this happens .
If you never envisage the need to quickly sell your shares I cannot see any cons to remaining nzx

I will watch and see how it all goes.Am taking up all my rights.

[JBmurc]

NZO trades at same price as the start of the year >> Oil has risen 50% in AUD since that time ....P/E must be dropping every Qty

[Sideshow Bob]

NZO trades at same price as the start of the year >> Oil has risen 50% in AUD since that time ....P/E must be dropping every Qty

Actually under where it was at the start of the year. Hasn't closed at current level since end of September last year.

Anywho, the value of a capital raise annd the majority holder focused on running it for their benefit.

[fish]

Actually under where it was at the start of the year. Hasn't closed at current level since end of September last year.

Anywho, the value of a capital raise annd the majority holder focused on running it for their benefit.

I am not worried about the drop in sp-it was expected with the rights issue .It made sense for some to sell in order to convert rights at a lower price.
Also not concerned about perceptions they are running it for their benefit.
I see a much bigger picture with ogog and believe they have resources,expertise and passion to help make natural gas the transition fuel this century.
I will be applying for as many shares as possible if there are unwanted entitlements

[mistaTea]

Apple loses position as most valuable firm amid tech sell-off https://www.bbc.co.uk/news/business-61417982

I am just surprised that the instos dumping Apple aren’t buying NZO instead of Aramco!

[mcdongle]

From what i have read its refiners that are making out like bandits, Due to the refinery closures over the last few years.

[JBmurc]

From what i have read its refiners that are making out like bandits, Due to the refinery closures over the last few years.

Yes and as NZ no long has a Refinery.... look forward to being screwed over by the overseas refiners that know we have limited options but to Pay up .. Resources wars will be the new COLD war... we better toe the line in trade with these nations that supply us with the refined products ...

[JBmurc]

spot OIL prices Breaking record highs in AUD/NZD .... and here we have NZO down on min trade ...

[Waiuta]

spot OIL prices Breaking record highs in AUD/NZD .... and here we have NZO down on min trade ...
Milked by management, stuff the shareholders?

[fish]

Milked by management, stuff the shareholders?

Have you any evidence for this ?
I doubt it today but suspect it happened before ogog takeover
Vast profits were made with Tui but only small dividends under TR
OGOG appear to have the expertise to return dividends-but say this will not happen for 1 to 3 years because of Amadeus and drilling in an established and safe area with gas pipelines already existing to send it for export and obtain international lpg prices

[JBmurc]

Milked by management, stuff the shareholders?

Well in CUE's case >>Alastair McGregor, Andrew Jefferies, Samuel Kellner and Marco Argentieri have elected not to be paid by the Company...(2021 Ann report)
Not sure how much they get paid by NZO

[fish]

Well in CUE's case >>Alastair McGregor, Andrew Jefferies, Samuel Kellner and Marco Argentieri have elected not to be paid by the Company...(2021 Ann report)
Not sure how much they get paid by NZO
The directors employed by Eyal Ofer are not paid by NZO

[fish]

Thanks Waitua - much appreciated. I'm not super keen to put extra money in, but if buying a few extras makes for a few less for OG, then all good.

Reading the nzx NZo annoucements carefully ogog have put themselves last in the queue .
I guess since they do not trade shares they value liquidity more than increasing their percentage holding.
This opportunity ends 5pm Monday so I need to decide asap how many to apply for .
Usually I apply for extra rights with the expectation of scaling .
With natural gas prices so high and looking strong for a long time I am considering applying for a lot more.All the large shareholders appear to be taking up their full allocation so the oversubscription pool may be small .
Digger has stated he cannot take up all his rights -the only person I am aware doing so .

[digger]

Reading the nzx NZo annoucements carefully ogog have put themselves last in the queue .

Digger has stated he cannot take up all his rights -the only person I am aware doing so .


Yes that is correct. Only can afford to take up half of them. Too many other commitments elsewhere.No reflection on what I think of future prospects,so if any of you want to take them up you are welcome.

[fish]

Yes that is correct. Only can afford to take up half of them. Too many other commitments elsewhere.No reflection on what I think of future prospects,so if any of you want to take them up you are welcome.

Much appreciated digger .

[Lion]

Reading the nzx NZo annoucements carefully ogog have put themselves last in the queue .
I guess since they do not trade shares they value liquidity more than increasing their percentage holding.
This opportunity ends 5pm Monday so I need to decide asap how many to apply for .
Usually I apply for extra rights with the expectation of scaling .
With natural gas prices so high and looking strong for a long time I am considering applying for a lot more.All the large shareholders appear to be taking up their full allocation so the oversubscription pool may be small .
Digger has stated he cannot take up all his rights -the only person I am aware doing so .

fish, I'm taking up exactly my entitlement. But I don't hold as many now as I once did.
I sold a few at 50.3c sometime ago to help pay for the new shares at 42c.

[fish]

Good move Lion

[Sideshow Bob]

NOTIFICATION OF LEVEL OF SUBSCRIPTION UNDER NZX LISTING RUL - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/392652)

New Zealand Oil & Gas Limited (NZO) advises that it has successfully completed its pro rata renounceable rights offer of ordinary shares (New Shares) to raise NZ$25 million (the Rights Offer).

The Rights Offer, which closed at 5:00pm on Monday 23 May 2022, entitled shareholders to subscribe for 1 New Share for every 2.7625 shares held on the record date of 5 May 2022, at an issue price of NZ$0.42 or A$0.38 per New Share.

Applications were received under the offer for a total of 55,397,179 New Shares, out of 59,520,120 offered under the Rights Offer. The total proceeds from the subscriptions are approximately NZ$23.3 million.

The Rights Offer is underwritten by O.G Oil & Gas (Singapore) Pte. Ltd (OGOG). OGOG will be taking up the full shortfall of 4,122,941 shares.

Chief Executive Andrew Jefferies commented “I am very appreciative of the support our shareholders have provided, and we will be using the capital raised to get after the exciting opportunities we talked about in the offer document. These will deliver volumes into energy markets that are feeling the strain of world events. I look forward to providing further updates on our progress as we move forward.”

New Shares are expected to be issued on 27 May 2022, with trading on NZX commencing on that date. Trading in New Shares is expected to commence on ASX on 30 May 2022.

For the Purposes of NZX Listing Rule 3.17.1, NZO advises the following in respect of the Rights Offer.

[Sideshow Bob]

Everyone got all they wanted......and OGO got a few more again to increase their % holding.

Extraordinary times for oil and gas and rely on the majority owner to fulfil the rights offer. ;)

[JBmurc]

Right so this will see OG energy increase there position in NZO ..

[fish]

Everyone got all they wanted......and OGO got a few more again to increase their % holding.

Extraordinary times for oil and gas and rely on the majority owner to fulfil the rights offer. ;)

Not quite like that .
NZO and myself for instance tried to encourage shareholders to take up the offer .
Personally I have increased my shareholding percentage more than ogog

[Sideshow Bob]

Anyone who missed out on the capital raise can still buy today at 42cps......;)

[Joshuatree]

Us holders can see the Macro ahead,you keep swimming with the minnows ;)

[JBmurc]

Right now NZO has what 55mill + whats up next ... a offer for the rest of CUE ... that when you do the number and take CUE likely present cash balance off ... at present market value NZO would pay around A$11mill (If us CUE S/H took present price for are shares) for the shares they don't own..

If NZO went to say 15c per CUE share not held they would use up around $40mill (taking CUE cash off)

[SPC]

Can someone please clarify: I recently took up my additional NZO rights and opted to transfer all shares to ASX.
Will I receive a holding statement from Computershare Australia detailing my holding?. They still show on my Computershare NZ statement as being all listed as an NZ holding.
Is there any action I need to take to record the shares as an ASX listing vs a NZ listing?
Thanks

[Wiremu]

SPC, as I understand it you don't need to take any action. Once NZO obtains primary listing on the ASX the shareholders who have opted to have their shareholding shunted will see their registry change from the NZX to the ASX.

Going by what I can read this will occur around the middle of June, but take that as an assumption rather than fact. At that time you will receive transaction statements from the two share registries.

[SPC]

Thanks Wiremu

[JBmurc]

Less than $1k traded for NZO and thats both ASX & NZX markets ...

[fish]

Less than $1k traded for NZO and thats both ASX & NZX markets ...
Due to the shares largely being in limbo-currently most being transferred to asx .

[JBmurc]

Due to the shares largely being in limbo-currently most being transferred to asx .

So will NZX listing be closed ? ..makes sense to keep to one exchange costs ... ASX makes sense ..

Spoke with Matt Boyall CEO CUE today ... very interesting and great talking with Matt

[NZSilver]

So will NZX listing be closed ? ..makes sense to keep to one exchange costs ... ASX makes sense ..

Spoke with Matt Boyall CEO CUE today ... very interesting and great talking with Matt

Can you give any info on what Matt said, cheers

[fish]

Can you give any info on what Matt said, cheers

I am sure it will be very positive about ogog,NZo and cue .
they are working well together with great expertise .
Since Andrew Jefferies became CEO in 2014 many good moves .
OGOG run a very tight ship and money is no longer squandered .
Only a few days before target depth is reached-we know the geology has produced gas in 2 adjacent areas (100 k or so away-if the gas has not escaped this could be big-but the odds are against this )

[fish]

So will NZX listing be closed ? ..makes sense to keep to one exchange costs ... ASX makes sense ..

Spoke with Matt Boyall CEO CUE today ... very interesting and great talking with Matt

No intention to close the listing .
with primary listing imminent on asx and most shares domiciled there it is inevitable that liquidity will dry for nzx .
Hopefully a lot more shares will trade on asx (Aussies more attuned to producing resource stocks and the new issue of shares)

[Sideshow Bob]

With primary listing on the ASX, is it time to change the company name??

Might help the share price.......;)

[RTM]

With primary listing on the ASX, is it time to change the company name??

Might help the share price.......;)

Yes...its seems odd doesn't it.
Turnover on the ASX yesterday was impressive !

13876

[mike2020]

There is a theory on hc that a merger of nzo and cue under a new listed entity is the end game for ogog.

[JBmurc]

There is a theory on hc that a merger of nzo and cue under a new listed entity is the end game for ogog.

Yes I've been talking about it for some time on the CUE thread ..

In speaking with Matt Boyall of CUE yesterday ..he did ask me the Question what I hoped to see from CUE going forward (he has spoken with many a S/H unhappy about the stale SP)..

I stated the only real way to grab some market attention was a more aggressive growth profile to engage with S/H Market a clear forward plan to 500mill+ CAP Energy Yield play!

Give S/H a WHY? to continuing to HOLD and Buy more as going from history 6yrs ago CUE had more CASH around the same 2000boepd production profile and SP that traded the same price levels yet Nat Gas had exploded in value + AUD Oil price has tripled!!!!

And IMHO the best plan would be a merger with NZO that would see at present $2-3mill per week in average cashflows ---70mill cash balance ...much lower overall Admin+wages = Net Profit

the Market cap $26mill CUE (must take off NZO holding) + NZO 91mill = 117mill so 47mill EV !! this would of course reduce OG Energy position to around 53% of shares outstanding which I think the market would like sub 50% even better ..

But of course its up to OG Energy if this would ever happen ..they may well just want the lot..

Also Ofer Global purchased 40% Otway Gas from BPT .... could this come into the picture of a merged group?
https://www.afr.com/companies/energy/beach-energy-deal-brings-israeli-billionaire-into-australian-gas-20181005-h169kc

I do agree a new name.. New Zealand O&G ... when you think how anti NZ Govt is against Fossil fuels ...I think Australasia Energy might be a better fit

[digger]

That is very close JBmurc to what I was thinking. First I thought to call it ANZAC Energy,but we really are not part of the army corp,so ruled that out. In the end purely as a thought exercise came up with ANZE. The E stands for energy.
I also think that the days of NZO are behind us so for growth and get some interest in the company it needs a name change to reflect the future.

[ziggy415]

That is very close JBmurc to what I was thinking. First I thought to call it ANZAC Energy,but we really are not part of the army corp,so ruled that out. In the end purely as a thought exercise came up with ANZE. The E stands for energy.
I also think that the days of NZO are behind us so for growth and get some interest in the company it needs a name change to reflect the future.
New Zone Oil Group ....sounds good

[mistaTea]

New Zone Oil Group ....sounds good

Just call the company what it really is - OGOG.

[Lion]

New Zone Oil Group ....sounds good

I think anything with NZ in the name is just going to turn off Aussie investors. Even New Zone - sorry ziggy, it's too close. Australasia - no, most of those Aussies don't know what that is. I'm not too sure about OGOG either - sorry to be so negative, but it doesn't mean much to most people.

I love the idea of some sort of combination of CUE & NZO with some sort of zappy name, but I can't think of one just now.
It's mostly in OGOG's hands anyway and they may well want to add in their Otway Basin assets, who knows.

We've seen OGOG try to get NZO cheaply when Ironbark was a glittering prize and we beat them off. They (naturally) have their own interests at heart, not the minority shareholders. But there's that old saying (Warren Buffett, was it?) that a rising tide lifts all boats.

I really feel (and I know feelings are not meant to come in to investment decisions) that with energy prices strong and likely to remain so, that NZO, CUE and OG are all going to be winners here soon, however the companies are sliced and spliced.

[Sideshow Bob]

I'm sure some consultants will come up with something, and a new logo only only a few hundred grand, or maybe a mil. :mellow:

[JBmurc]

I think anything with NZ in the name is just going to turn off Aussie investors. Even New Zone - sorry ziggy, it's too close. Australasia - no, most of those Aussies don't know what that is. I'm not too sure about OGOG either - sorry to be so negative, but it doesn't mean much to most people.

I love the idea of some sort of combination of CUE & NZO with some sort of zappy name, but I can't think of one just now.
It's mostly in OGOG's hands anyway and they may well want to add in their Otway Basin assets, who knows.

We've seen OGOG try to get NZO cheaply when Ironbark was a glittering prize and we beat them off. They (naturally) have their own interests at heart, not the minority shareholders. But there's that old saying (Warren Buffett, was it?) that a rising tide lifts all boats.

I really feel (and I know feelings are not meant to come in to investment decisions) that with energy prices strong and likely to remain so, that NZO, CUE and OG are all going to be winners here soon, however the companies are sliced and spliced.

Your'd have to be a special kind of stupid not to know what Australasia is .... which is exactly what CUE / NZO are with focus on NZ/Aus/Indo the Australasia region


around tickers I like the idea of number in the mix .. if it was up to me A8A (8 in Chinese Numerology to prosper) .... I know "how can a tickers add any value"!!!!

If anyone thinks tickers don't make a difference ...just go and look what happened with 88E.asx on spec exploration was very over valued to peers (88 ='double joy')
A8G.asx another .... both in the toilet now that reality of muti poor exploration results ... but when they had potentially decent outlooks the SP muti bagged with peer company investors not understanding why ?

IN china many muti floor high rises delete 4 - 13 - 14 floors from their buildings ....stupid I know ..but thats the Chinese ... and going forward the Asian region will be the powerhouse of Growth ...India - China-SE Asia

[fish]

A change of name is in my opinion not constructive and could be an expensive mistake.
We have seen last week in Australia what happens when the sun does not shine .
The government has intervened and capped gas at $40 but the ghost market is at $80 .
Last year the price was $5.
Netback for NZO has multiplied .
Amadeus,Mozart to our ears looks to be as good as gold and gas is the greenest fossil fuel.
SP still appears to be ridiculously low-I feel the reason for this was the options and a delay in the ASX primary listing (apparently delayed because the ASX process has Covid issues-but will happen soon )

[fish]

It has just been announced that the ASX primary listing commences next Monday and so with the vast majority of shares being transferred we should see more activity in the market .
Hopefully the palm valley pv12 drill will have hit the target by then .
This is an exploration drill to see if the arumbera sandstone holds gas (we know it does some distance away but as with exploration do not be too disappointed if it does not-will say bugger and then accept the consolation of the lateral appraisal well and insane gas prices)

[Sideshow Bob]

PALM VALLEY-12 WEEKLY DRILLING UPDATE JULY 12TH - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/395243)

The Operator (“Central”) (ASX: CTP) and its Palm Valley and Dingo Joint Venture partners New Zealand Oil & Gas Limited (“NZOG”) (ASX: NZO) and Cue Energy Resources Limited (“Cue”) (ASX: CUE), advise that the current drilling program at Palm Valley and Dingo will be revised to defer the Dingo well and evaluate the lower P2/P3 unit of the Pacoota Sandstone formation (P2/P3) at Palm Valley to prioritise near term production into a very strong East Coast gas market.

[JBmurc]

It has just been announced that the ASX primary listing commences next Monday and so with the vast majority of shares being transferred we should see more activity in the market .
Hopefully the palm valley pv12 drill will have hit the target by then .
This is an exploration drill to see if the arumbera sandstone holds gas (we know it does some distance away but as with exploration do not be too disappointed if it does not-will say bugger and then accept the consolation of the lateral appraisal well and insane gas prices)

Well so far so poor on the trading front for NZO on the ASX ,....and CUE really dead next to nil trades last many trading days ... might get some interest on upcoming Qty that should impress with higher cashflows ...

[fish]

Well so far so poor on the trading front for NZO on the ASX ,....and CUE really dead next to nil trades last many trading days ... might get some interest on upcoming Qty that should impress with higher cashflows ...

There are many possible reasons for the lack of trading but suspect the delay in listing on the asx and not notifying all holders that ticked the box to have holdings transferred has a lot to do with it .
The target has been changed in todays annoucement which if successful will enable prompt extraction of gas and capturing the strong prices (gas futures in australia have recently gone to new highs ) by a short lateral through the many vertical fractures .
Hopefully large volumes of gas through high pressure flows

[Sideshow Bob]

Well so far so poor on the trading front for NZO on the ASX ,....and CUE really dead next to nil trades last many trading days ... might get some interest on upcoming Qty that should impress with higher cashflows ...

Last year CUE reported 18th of August, and NZO 25th of August so not too far away....

[JBmurc]

Last year CUE reported 18th of August, and NZO 25th of August so not too far away....

Looking forward to it ... hopefully something to spark some life...

[Onthemoney]

I see Cue reported yesterday.

[Sideshow Bob]

I see Cue reported yesterday.

Was their quarterly, not annual result. With revenue up 125% for the year.

[JBmurc]

Was their quarterly, not annual result. With revenue up 125% for the year.

Yes and SP is much the same as it was 12 months ago .. anybody want 3.7mill CUE shares ???

[mistaTea]

Yes and SP is much the same as it was 12 months ago .. anybody want 3.7mill CUE shares ???


All this noise about moving the primary listing to aussie as a solution to NZO's low SP...no change in market value.

As I have pointed out many times before, NZO will never be valued at what you might think it should be because 70% of shares are locked up by OGOG and the stock has no liquidity. Investors are only prepared to pay a 'fair price' if there is liquidity (so they know they can get out fast if they need to).

So even when oil prices go up, you don't see much of a rise (if any) in stock price. Same with gas prices.

If you are a holder of NZO, you have to view it as though you are a minority partner of a private business and ignore the SP. So long as you never plan to sell, perhaps in the future one day you will come good with some dividends. But you have to be happy to ignore the SP, and be satisfied with the decisions OGOG are making on your behalf (and that those decisions are mutually beneficial - not just favourable to OGOG).

[JBmurc]

All this noise about moving the primary listing to aussie as a solution to NZO's low SP...no change in market value.

As I have pointed out many times before, NZO will never be valued at what you might think it should be because 70% of shares are locked up by OGOG and the stock has no liquidity. Investors are only prepared to pay a 'fair price' if there is liquidity (so they know they can get out fast if they need to).

So even when oil prices go up, you don't see much of a rise (if any) in stock price. Same with gas prices.

If you are a holder of NZO, you have to view it as though you are a minority partner of a private business and ignore the SP. So long as you never plan to sell, perhaps in the future one day you will come good with some dividends. But you have to be happy to ignore the SP, and be satisfied with the decisions OGOG are making on your behalf (and that those decisions are mutually beneficial - not just favourable to OGOG).

I wonder how many NZO S/Hs would now accept a 74c offer for their shares ? I know I'd be stoked to get 10c for my CUE shares and would sign up asap .. like you say the market doesn't want to be invested in pretty much a private company ..

[Sideshow Bob]

I wonder how many NZO S/Hs would now accept a 74c offer for their shares ? I know I'd be stoked to get 10c for my CUE shares and would sign up asap .. like you say the market doesn't want to be invested in pretty much a private company ..

Yeah, I'd take 74c......;)

[Sideshow Bob]

Expect we could see the quarterly cashflow tomorrow.....

[mike2020]

Yeah, I'd take 74c......;)

If Ironbark had been a success and you had taken 74c the tears would still be flowing.