Time for a company name change ???
Quote:
Originally Posted by
Chippie
http://www.nzherald.co.nz/section/3/...ectid=10529718
New Zealand Oil & Gas hopes to release details of new investment "shortly" after announcing a full year profit of $97.2 million on spectacular revenue from its Tui oilfields.
Chief executive David Salisbury said the company was looking to grow but not for the sake of it.
"We have some projects which we would expect would come to fruition shortly and others we had screened out for a number of reasons."
Something Ive been thinking about for a while, is it now an appropriate time to consider a company name change ?
New Zealand Oil and Gas is a bit of a mouthful, and a bit stale in my opinion after 25 years. I still refer to it as NOG, the old ticker symbol, which is easier to say.
Look at our top companies, their names are a brand - Telecom, Infratil, Fletchers, Nuplex, Rymans
Our energy companies have names like Genesis, Contact, Vector, Meridian
NZOG is listed in NZ and Oz, so its not really solely a NZ owned company anyway, and if we are to start investing offshore then the NZ is even less appropriate. In fact it may even discourage some of our aussie friends from investing in the company.
I worked at the New Zealand Dairy Board for many years. They merged with the main dairy companies to form Fonterra, and are now one of the top 5 dairy companies in the world. Im sure the name change helped, and they now have a worldwide brandname.
NZOG in the last few years has moved into the NZX 50, and could soon be in the top 15. This company should be a household name - something like Caltex, Shell, Mobil ....
What do you others think ?
latest tui production figures
Have just taken this from the nzog website-
Production Performance
Production began on 30 July 2007. Total production in FY08 (year ended 30 June 2008) was 14.2 million barrels. NZOG's share of production was approximately 1.78 million barrels
Oil Production since 1 July 2008:
1 July-31 August: Approx 2.25 million barrels. NZOG's share of production approx 280,000 barrels.
Tapis Benchmark Crude - the weekly average Tapis price per barrel
Week ended
Average Tapis Price
NZ$ Equivalent
22/08/08
US$121.18
NZ$170.99
15/08/08
US$123.38
NZ$174.54
08/08/08
US$129.89
NZ$184.24
01/08/08
US$135.03
NZ$183.71
25/07/08
US$139.87
NZ$186.49
18/07/08
US$151.97
NZ$198.39
11/07/08
US$148.64
NZ$195.83
04/07/08
US$148.60
NZ$195.53
nz dollar has weakened,oil price should be strong with about 20% us oil production shut down , 5 cent fully imputated dividend-hopefully we shall see this reflected in a rising sp