NZ Oil & Gas (NZO)

[digger]

As I recall, digger wasn't selling to the TO offer and said he'd buy more if the price dropped (Have I got that right, digger??)
I suspect the SP will rise tomorrow or Monday, as people with new cash think it's not a bad deal.
But of course, I could be wrong.
I sold none and am hoping for success in the Canterbury Basin. I may buy more if the price drops.
Cheers all, Lion.

Yes that is the case. Sold none. Holding waiting for the drill just as I out lined months ago. I find it hard to swallow that O@g want 67% of a company and believe it will soon be worth less. It would sure be nice to know what their true plans are [which I do not know] and when action will start.

[fish]

Yes that is the case. Sold none. Holding waiting for the drill just as I out lined months ago. I find it hard to swallow that O@g want 67% of a company and believe it will soon be worth less. It would sure be nice to know what their true plans are [which I do not know] and when action will start.

Thank you for confirming what many of us thought you would do.
I was paid on Friday but scaled back so I still have a good holding which will keep me interested should promising events unfold.
Lets keep sharing thoughts and knowledge on this thread which is open to all opinions.
I am sure NZ needs its own supply of hydrocarbons and the input of OG might turn out to be the best-certainly better than Zeta(and I have a shareholding in Zeta which I didnt ask for!)
Best wishes to all

[Sideshow Bob]

I got paid, but awaiting advice - although calculated that have a small holding worth about $500 left, so hardly worth selling. Annoyed.

[fish]

I got paid, but awaiting advice - although calculated that have a small holding worth about $500 left, so hardly worth selling. Annoyed.

i think asb securities advertise trades as low as $15 or forget about it and wait and see what develops as something will be going to happen one day.
its still better than zeta

[tim23]

I offered 4500 out of my 12000 and all taken so left with tidy 7500

[Vaygor1]

Quarterly update out this morning.
I have only glossed over the narrative/figures at this stage.

Of note to me is the update re Clipper (PEP-52717):

"Discussions with potential farm-in partners continue to advance.

The joint venture has asked the regulator for a change of conditions to allow extra time before a well comitment needs to be made. This will allow time to analyse new information about the Barque prospect arising from discussions with potential farm-in partners."

The regulator to which NZO refer is New Zealand Petroleum & Minerals. Unless an extension of time is approved by them, NZOG and Beach must commit to drilling an exploration well by 10 April 2018.... not far away.... and if a positive drill decision were made it would have to be drilled by 10 June 2020.

It would be nice if, in the quarterly update, NZO disclosed the date to which they are requesting an extension.

Disc: Holding. Have kept all my shares throughout the OG partial takeover process.

[fabs]

Of note to me is the update re Clipper (PEP-52717):

[I][COLOR=#0000CD]"Discussions with potential farm-in partners continue to advance.

That is some what interesting.
As about NOVEMBER 2015 well over a year ago now.
The same statement was made by the then NZO Management team.

So at this stage nothing much has changed, other than applying for extension.

Also would be interesting to know, how many/any S/holders got 100% of their submitted amounts accepted and payed out??
In that SUPPOSED FAIR partial T/over exercise.

[jumbo]

can anyone tell me why anyone would want to buy into nzo to explore for oil and gas when there is so much negative feeling toward's all mining in this country. I SAY THEY SHOULD PUT THE HARD WORD ON THE GOVT no heavy obstacles in our way or we will move offshore.We as a country need nzo more than nzo need's us,so wake up nz and get behind all mining

[Marilyn Munroe]

can anyone tell me why anyone would want to buy into nzo to explore for oil and gas when there is so much negative feeling toward's all mining in this country. I SAY THEY SHOULD PUT THE HARD WORD ON THE GOVT no heavy obstacles in our way or we will move offshore.We as a country need nzo more than nzo need's us,so wake up nz and get behind all mining

Yes there are environmental nutters and virtue signalers who oppose oil exploration.

On the other hand an oil or gas field means royalty payments to the government.

Have you ever come across a politician who didn't want more money to spend?

Boop boop de do
Marilyn

PS. Oil companies play a game of comparative advantage. Whether it is a venal dictator wanting his share paid into his Swiss bank account or a left wing government which wants eliminate poverdy by command and control, whoever demands the smallest cut gets the gig.

[Sideshow Bob]

From todays ODT:

https://www.odt.co.nz/business/oil-a...-test-drilling