They already do that. The Toke permit (PEP 38499) is a recent example. An extremely promising permit to have a share of.
Printable View
Thanks for that, Unicorn, it's always good to have a knowledgeable opinion on the oil prospects. My point, however, is that there has been a lot of discussion on this thread to the effect that since the start of Tui production, NZO has got more money than it needs. M and A has been discussed, particularly in light of the background of the new board member. My query is rather whether NZO might buy into existing permits/licences, either in NZ or elsewhere.
If NZO are serious in thier stated intention to raise the share price they need to be proactive. This morning (so far) the buy & sell queue will match at $1.16 because someone will hit the buy quote at $1.16. If nobody enters a bid at $1.17 before 10.am then the opening price will be $1.16 down 1 cent. This is absurd given record oil prices mentioned in the papers radio etc. It also falls into the hands of the professional trader or broker who is accumulating a stake and wants the share price to NOT rise.
If NZO's broker (who has been given permission to accumulate under the terms of a buyback) bid $1.18 then the share price will open at $1.17.
This process needs to be looked after by a professional broker.
NZO management are failing shareholders miserably.
They will not release dividend policy or protect the shareprice or actively take action to achieve the stated aim of option conversion and the inflow of funds that could be spent on exploratory acreage / producing assets etc.
They seem to think that "presentations" work. Wrong market interaction and buying raise the share price. Their is huge amounts of money being generated. Why state last year that you want the options converted and do nothing.
The presentations are not working - Abn ambro and First NZ do not cover NZO and issue research - so they will not be telling clients to buy.
What does work is market action that generates a rising share price and positive sentiment.
Do not hide behind presentations any longer as a "demonstrable course of action" - do something that will work - buy the shares if you think they are seriously undervalued and worth over $1.50
Please put the shareholders money where the managements mouth is and do a buyback.
I would also ask all shareholders to email or phone nzo immediately and ask when a buyback will occur using $5 $10 of the $180? cashflow generated when "all funds are in place for our 3 major projects"
Do not let them hide anymore you own part of this company! (I have emailed & phoned & intend to at least once a month going forward)
Ladies and gentlemen EXPECTED in nog language means good intentions and in the fullness of time. Now as a follow on but will be seen as a change of subject----
Actually it is this extra time requirement coming from every quarter,except TUI, that leads me to believe that NZo needs to evolve the NZOOD into NZOOE in a ratio fair to both heads and options to allow for this time slippage. Also as NZO is hughly undervalued the heads need continuing support from options to head off what could be a steal takover.
As a disclaimer i would say my personal NZO stake is about neutral given less shares on issue if options laspe should compansate in head lift.However it is irrsponsible to expose the heads to any chance of a cheap takeover just for a short term short in the arm.If the heads were somewhere north of 2-50 to 3 dollars this option pretection would be less essential.
Comments.
http://www.nzog.net/contactus
is the internet address for shareholder enquiries - there are only four boxes to fill out.
dsurf,will do but lets wait for now until after the half is out,could be some stated direction there.Expected late March or thereabouts.
Spot price closed over USD 100!Code:Commodity Price Change % Time
WTI CRUDE FUTURE (USD/bbl.) 100.740 0.730 0.73 14:47
Its not looking good for pass the parcel. I would suggest the sounds of silence be the band, and beleave it if you like the tune played. They now dont care about the share holders, they have enough swill in the trough to last for ages without worrying about you lot. Whatever happened to that SHEALAH that was to keep you up to date with what was going on?. It surprizes me that some people are now actually starting to wake up when i thought that some people can be fooled all the time. Macdunk
Not trading at present. Buys 117/ sells 116
NZO
21/02/2008
MINE
REL: 1001 HRS New Zealand Oil and Gas Limited
MINE: NZO: Kupe Development Wells Disclosure Notice
New Zealand Oil & Gas Ltd (NZOG) advises that at 1400 hours on 20 February,
the 12-1/4 inch section of the Kupe South 6 (KS-6) well had reached a depth
of 2,862m MDRT (measured depth from rotary table). The planned total depth
for the section is 2,935m MDRT. Upon completion, the 9-5/8 inch casing will
be run and cemented.
Drilling began at 22:40 hrs on 19 December 2007. Progress of all three
development wells in permit PML 38146 is summarised as follows:
Well 22 inch 17 inch 12.25 inch 8.5 inch
KS-6 560m 2,000m
KS-7 566m 2,000m 3,116m
KS-8 568m 2,184m 3,429m
Each of the three production wells will be drilled by the ENSCO 107 jack-up
rig to a vertical depth of approximately 3,400 metres.
The Kupe Project drilling campaign is being undertaken on a "batch-drilling"
basis. This process involves completing the same section of each of the three
wells before proceeding to the subsequent section and is a more efficient
approach than drilling the wells separately. Drilling of the three wells is
expected to take around five months to complete.
The Kupe Project is located within permit PML38146 in the offshore Taranaki
Basin, New Zealand, approximately 30km off the coast. The development will
comprise production wells tied into an unmanned offshore platform, a 30 km
pipeline to shore, and an onshore processing station. The Kupe Project is
expected to be completed by mid-2009 and produce approximately 254 petajoules
of natural gas, 1.1 million tonnes of LPG and 14.7 million barrels of light
oil (condensate).
End CA:00160783 For:NZO Type:MINE Time:2008-02-21:10:01:08
Ensco states in its Rig Status Report that Origin have also
three one-well options with it's current Kupe contract.
Does anyone know what they will be used for (one might be
Mohomoho, but what are the others?)???
I am totally against any suggestion of extending the exercise date of the options. You can't go shifting the goalposts, or announcing an extension of playing time, just a few minutes before the game finishes. "Options" are just what they say, and they are a speculative investment. Buyers know the rules of the game. The issuance of new options would be a different matter of course, requiring shareholder approval.
Besides, why expect the company (us shareholders) to be interested in having more capital injected into the company when it clearly has totally adequate funding? Capital is a most expensive source of funding.
DISC: Hold 80k NZO. Have held/traded NZOOD in the past - and made money - but ditched them months ago when I could see the direction things were heading.
[QUOTE=COLIN;
Besides, why expect the company (us shareholders) to be interested in having more capital injected into the company when it clearly has totally adequate funding? Capital is a most expensive source of funding.
DISC: Hold 80k NZO. Have held/traded NZOOD in the past - and made money - but ditched them months ago when I could see the direction things were heading.[/QUOTE] Its nice to see you are on to it. Why have more capital tied up in a company as secretative as this.
Its blind mans buff right now, without diluting the existing shares with more just to have capital sitting in the bank with no clear direction of forward direction. I cant see even the most gullible swallowing the bait. If they used profits for a buy back, which would raise the sp to allow the options to be excercised then they would be back to square one with a higher sp and happy shareholders. I dont think they are smart enough for that if i did i would buy into it myself. Macdunk
Duncan duncan duncan.. have you misled some of us or is that i typo i see.
You referr to shareholders as us. does that mean you are now the proud holder of shares in nzo?
other week your system said there was a buy signal around $1.10 (i think) then your trailing stop loss kicked in and spat you out at $1.11 (not enough buyers at $1.12 where you stop loss should have been). Meanwhile, oh great MD, you have missed the surge from around a $1.00 where the smart investors jumped in to now around $1.15 or whatever it is. Big disapointment in your system there big guy. I was hoping your unique system was going to prove me and everyone else wrong.
I think your wrong about clear direction MD. you have known the direction for the last 3 or 4 years. WEhat has happened is delays with Pike and increase in capex for Kup and Pike. Pretty much par for the course by most accounts.
What you seem to think is what are they going to do with all the money. Isnt that dependant on many variables, such as farm-ins to be negotiated, drilling rigs availability, prices, new permits, possible aqusitions, mergers and the list goes on. Many of which do and should mean in confidential until the time is right to inform the market.
on a slight sperate note. The word "expected" from nzo i have found in many cases to be nore more than hot air. going back around 3 years ago if i am not mistaken. i am sure most posters know what i mean. I certainly dont want a repeat of that. That is when TR lost my vote of confidence as a person.
Dr Who - you have that reliably? Broker bias and a 30% gain if a few names removed?
Colin - I tend to agree but they have extended the options before and i was annoyed as I had sold mine off juts weeks prior!
hmm, i see, its a quote from someone else. initially i was a real shock for the macdunksta to hop on board the nzo train.. anyway... what you should consider in your trading strategy is take away any personal views and simply trade using your now famous TA system. That way you could have mad a cool 15% gain in less than a month with more to come.
Nice of you to take notice NITA but dont forget the 5% stop loss. I am not a shareholder only hold one share PEM which i paid to much for simply on a take over or merger hunch. Its gone in to a trading halt so at least i got that right even although my timing was wrong. I fully expect a few mini crashes followed at the end of the year with a big one so other than a few mini plays i am on the sidelines. Macdunk
Tim23, those original options that were extended (can't remember if they were OA's or OB's) were issued with the reasonable expectation (ie noises made by NZO) that they would not expire until after the Opito wildcat was drilled. The drill was delayed so to be fair to optionholders the Co. was able to delay the expiry date till after the drill was completed. I don't think the current options were issued under any expectations so would be surprised if NZO are able to (let alone have any interest in) extending their life. Besides, as someone else has said, the Co. is fully funded now so why would they, or headholders (unless they also held options), have any interest in diluting the company?