I'm pretty pleased today, nice cheque arriving soon but tell me where is Duncan to spoil the party? Maybe he is waiting for the chart to tell him when to reply!
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I'm pretty pleased today, nice cheque arriving soon but tell me where is Duncan to spoil the party? Maybe he is waiting for the chart to tell him when to reply!
Of course with the blue eyed brigade!
Well, I guess Mr Market has shown thus-far that he is not going to fully value NZO stock, so if the Co. bought back shares Mr Market might not automatically upgrade the SP pro-rata. However, if NZO starts to regularly pay a ~$10c per annum (or higher) dividend, that can be can be calculated at a certain tangible return-rate by mum and dad investors who might then invest in NZO at what ever SP gives them a better return than putting their funds in the bank. Sure, it's more risky, but hey look at the mums and dads who got burned chasing an extra 1% through the finance companies. Seems like a reasonable strategy to me for building the SP.
Fair enough but I suggest there are already plenty so called mum & dads in the stock...
Was not expecting a dividend this early in the production piece. For it to be fully imputed must mean that the company has used up all tax losses and has paid or will be paying the tax on the monies passed on to the shareholders. Again a very pleasant suprise and sooner than i thought.
Arjay has been pushing for a dividend for some time now to cement in a constant upward SP rise. Investers just like to get something back.
My monies will arrive just in time. My wife and i are building a new home overlooking about 2/3 of the parched waikato. We are going all hippy and will not be on the national grid. Power will be from solar ,wind and back up generator.Will post more on this later as would go too far off NZO by discussing it now. Anyways that dividend will go some way to pay off a few hands that are stuck out. Dispite this windfall i will continue to go around clum faced when all the builders and associates are around as if they know you have just received a bit of money,somehow the money is rightfully theirs.
The best part of this div is that it looks like it will be ongoing and for years into the future.
Regretably in NZo recent history i have only been able to talk two investers into NOG. Both sold out in the last three months being sick of hearing about hanging on until all three projects are producing.I had not expected one project to be good enought to support the other two as well as pass on a dividend. Just shows how enormously successful TUI is.
Well done to all the long term holders and NZO management.
And Kupe could be bigger than Tui!
I would hate to spoil the party guys you deserve better than you have been getting from this company for a very long time. The shares went up 5c on the announcement of a 5c fully imputed dividend. Whoopee doo they drop 5c when its paid. It would have made more sense to have a buy back on market with a share cancelation. That way the sp would have risen higher faster. The options will be unlikely to be excercised, and if they are will hold the sp at that level with the dilution effect. Fingers crossed for you will be away for some time but will be back in time to see who is left holding the parcel. I suppose the brain dead will love this dividend, but to me coming from a prospecting company at this stage in the play its a stupid move. When i get back i hope you can tell me how wrong i got it, but until then good luck guys keep that stop loss in play. Macdunk
Blocky is very happy with todays direction NOG is taking, maybe Mrs Blocky will ease up on the "you should have sold when ...."
I grabbed a few more options on the strength of it all today,
Oil explorers must pay a royalty to government (which counts as a tax).
This can not be offset against previously accrued losses. Those losses can however
be used up slowly to avoid paying the full company tax rate.
The regime is as follows:
1. an ad valorem royalty (AVR), which applies at a rate of 5% of gross revenue from the sale of petroleum; or
2. an accounting profit royalty (APR), which applies at a rate of 20% of net revenues from the sale of petroleum, after deducting production expenses incurred under the same, or a related, permit.
Permit holders are required to pay the higher of the two royalties in any year (but not both)
Since the costs of producing the oil are so low (<$10/barrel) I assume the second regime operates here
and NZO pays 20% tax on the net oil revenue. That's where our imputation credits come from.
Previous years losses and unrelated permit expenses and writeoffs can then be used to offset
the additional tax a company would have to pay on its net profit (33% minus the royalties already
paid). It will take a few years to use the accrued losses up, I suppose.
Clever Duncan and if a share goes ex 7c a share it drops by 7c when it goes ex and so on so NOGs 5c will be no different but thanks for your enlightened views I figured you would have to put some pathetic spin on this and you took the bait.
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Digger,
Great post ...... its excellent that the divie is fully imputated .....
and Sideline thanks for the info re royalty tax and the imputation process.
In the meantime, wot now of that decrepid sporranaceous whiskey swigger, Great Scott the same old McKlunkaceous tamporal extrusions ..... wot a load of miserable old adominal emmanations.
McKlunk, isnt it time ya got outa da dunny and join da party ????
Dsurf,
Thx for the P/E ratio calculations, good to see you supporting the company after your recent negative post (#2781) which was rightly challenged by Peter Findlay.
Now godspeed the NZOG ship and may the winds breeze us all into the land of milk and honey !!!!
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Re Dunac Zorba - read above the pathetic dividend comment.
Share price is back to around where it was 3 years ago!
Beautiful.
I agree Awamoa.
I think NZO are now in a position to not really care whether the options are exercised or not, and paying a dividend confirms that.
Obviously, management would like the share price to be as high as possible come 30th June, and if that results in conversion then so be it... but I can't see any gain to the company in the wider scheme if they are exercised.
Please enlighten me to why NZO would need the monies....
I believe the price on the close of play 30th June will be $1.50 on the dot.
Zorba - RE: recent negative post (#2781) which was rightly challenged by Peter Findlay.
I think you and PF - missed the point entirely on that post - I have wanted NZO to disclose at least the same level of information that is expected fron NZX50 companies. This includes dividend policy. I have been an active canvasser of this. I have written, phoned & emailed the company & raised the issue on this forum stressing the importance of a dividend policy to investors. I am exceptionally pleased that the communications are coming & I have a much better confidence in management / executive communications. this will close the discount I see in the SP versus "value". I make no apology for being forthright & probably peeing a few people off. I am proud that possibly in some minute way my actions possibly contributed to the policy release.
What have you done??????
Getting good press coverage this morning;
http://www.stuff.co.nz/business.html?source=nav
http://www.nzherald.co.nz/section/3/...ectid=10495000