Originally Posted by
shasta
I hope it's not paranoia there OTL...:eek:
NZO have most of there direct opex costs in $US, incl all rig associated costs with the JV partners.
Whilst i agree NZO should be mitigating the downside risks by having the majority of there funds in $NZ, we don't really want NZO to start engaging in currency speculation.
I imagine the Kupe opex costs will also largely be in $US dollars, so it's a case of managing just how much cover you need?
NZO are in a very enviable position, other businesses having to take forward cover, swaps, puts etc are getting screwed by the points spread by the banks :(
Maybe this is a valid question for the AGM, i mean crystalling the gains could just about fund the divvie :confused: