Thanks, I was referring to the dividend and should have phrased my question better, I would be annoyed with such a lax approach myself.
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Thanks, I was referring to the dividend and should have phrased my question better, I would be annoyed with such a lax approach myself.
Latest change is best of both worlds for holders. NZO remains a NZ headquartered company but its shares are listed and traded in a larger market more familiar with energy prospecting and production.
NZO divs are treated as NZ income meaning simplified tax compliance - ie. recent div and tax paid are already populated to MyIR for 2025 EOY return. Couldn't be simpler. Bring on the future.
Great news...won't blame them ...NZ economy is crap ...thanks to Orrs and his associates... Robertson n Jacinda
Not even the potential restart of oil & gas exploration in Taranaki can gain some interest. Likely some still wanting out before move to the NZX.
Need to get past delisting and then move on, name change.
Meanwhile market cap is $87m, with Cue being $35m AUD. Cash balance at the end of March was $45m so leaving $5m for the rest of the company.....
I guess some people need their money out.
For those holding, it's exciting times. We probably want the TEG rig late July. That way, the Aussie investors can see some volume going through the ASX which should pop up on the technical traders radar.
I'm going to top up at these levels. I was just trying to work out if there will be some bargains just before the delisting.
https://www.nzx.com/announcements/432618
New Zealand Oil & Gas (NZX: NZO, ASX: NZO) notes the press release by Beach Energy Limited (Beach) Operator of the Kupe gas field attached.
As we have announced previously, the results at KS-9 have been disappointing and the impacts for the field are still under detailed review. Our review work continues and we will report our determination on the impact of this asset in due course, in-line with our usual reporting practices. Any reserves changes are not expected to have a material impact on NZO Group’s reserves profile.
NZO has a 4% participating interest in Kupe along with joint venture partners Beach (50%, Operator) and Genesis Energy (46%).For
Non cashflow write downs and as NZO states, Not material.
NZO has no intentions of spending money playing around in NZ anymore.
How does the script work on the delisting re the fx rate and transfer over to the ASX.
https://www.nzx.com/announcements/432622
As announced on 14 February 2024, New Zealand Oil & Gas agreed to purchase a further 25% equity interest in the Mereenie licences, located in the Amadeus Basin in Australia's Northern Territory. The purchase is from Macquarie Mereenie and this transaction was subject to certain conditions, which have been fulfilled and the transaction has completed.
Horizon Oil is also announcing completion of the acquisition of 25% equity interest in the Mereenie licenses, which leaves Macquarie Mereenie with no equity interest.The participating interests in the Mereenie project are now:
• New Zealand Oil & Gas 42.5%
• Horizon Oil 25%
• Central Petroleum (Operator) 25%
• Cue Energy Resources (Cue) 7.5%
Including Cue’s 7.5% interest, the New Zealand Oil & Gas Group’s interest in Mereenie is 50%.
This has increased total 2P Group reserves by 41% to 23mmboe as at 1 July 2023. The acquisition will double the New Zealand Oil & Gas Group’s reserves and production from the Mereenie field.