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.
There is a bit of chat around the Perth Basin assets and big players wanting some of the action.
Rinehart is being talked about, looking around at the likes of Strike and smaller companies that have the drill licenses, like Triangle.
It's all very interesting and I have enjoyed increasing my knowledge around the Perth Basin.
I look very much forward to the ASX move and the Australia shareholders sharing their thoughts as they increase participation on the ASX register.
Booth rig to be released early July, approx 10 days to assemble.
Drilling expected to commence mid to late July.
Bring it on.
Market news releases are under the partners STX, TEG and NZO on the ASX.
TEG got approval today on the carbon capture Cliff Head project.
This is excellent news as TEG will now have more than enough cashflow to pay for its share of the imminent Perth Basin Drilling program.
The last thing NZO wanted was a CUE situation where they provided short term cashflow to CUE when setting up the Indo project.
Well done TEG. Now let's drill.
One more full day of trading before we are off to the lucky country.
A new dawn for NZO. I'm giving it a few weeks before we potentially see a new name without the words 'New Zealand' in the title.
New Zealand Oil and Gas listed on the NZX in 1981. Robert Muldoon was the Prime Minister.
The Company has seen more oil booms and recessions that I can recall, survived economic crisis, many different political parties and the modern day environmental groups.
New Zealand has changed over this time, and it's time for NZO to dream big again and move offshore to where they are seen as adding value to an economy and shareholders.
It's difficult for me to say this, but I for one are comfortable about embracing new attitude of shareholders and Government rules that encourage moving forward.
Im a Kiwi through and through, and call this the 'Jacinda' effect. But I will thank her over this one, as NZO has embrassed change that has already been benefit of the shareholders.
1981-2024
https://www.nzx.com/announcements/433314
As announced on 21 September 2023, New Zealand Oil & Gas (NZX: NZO, ASX: NZO) agreed to extend the gas supply agreement with South32 Cannington for supply of gas from the Mereenie field, for an additional 12 months, conditional on transportation agreements. This agreement has become unconditional.
NZO has a 42.5% interest in the Mereenie project along with joint venture partners Horizon Oil (25%), Central (25% Operator) Cue Energy Resources (7.5%).
For further information please contact enquiries@nzog.com or +64 4 495 2424.
Two and a bit days since NZO delisted from the NZX, and a fraction over 3,000 shares traded on the ASX to date.
It's early days.
Im waiting for a name change announcement to remove themselves from the anti NZ oil and gas noise.
In the meantime they will continue to produce and sell oil/gas at good prices. And the Perth Basin drill is underway later in the month.
Yes, the 'cancel' laid back NZ culture is not good branding for an oil and gas company. Especially one that has its main income sources in Australia and Indo. And it's main shareholding base internationally.