Originally Posted by
BlackPeter
I sense a lot of accumulated baggage - and for sure, if NZO would have played their cards better than they would not be where they currently are.
However - it looks at current prices well undervalued (no matter, whether I look at NTA or make a PE based assessment), it feels that their resource estimates are still quite conservative ... and they have sufficient cash to get even through a prolonged low oil price environment (and as well large gas reserves as buffer against oil price swings).
Obviously - their board / management might not be the best it could be (but how many companies have all stars aligned) - and I think this is one of the reasons for the current SP.
Personally I am sure that oil will move up again (that's a when, not an if) - and when they reinstate their dividends, than the current SP will look really cheap.
Discl: hold some, but DYOR - this is obviously a somewhat speculative stock