NZ Oil & Gas (NZO)

[fabs]

FWIW, I am going to take advantage of the 72 cent offer and just buy back any shares I sell into the offer at 60 odd cents post offer.

Then going to go along with Zeta for the ride...

Think Zeta will strip any unnecessary costs out (like they did with PPP) and probably combine PPP, CUE and NZO into one entity thus cutting costs even further. Potential here I think.

(well PPP may already be gone but you get the drift I hope)

A Wistful scenario that may, or not work out that well, so good luck and enjoy the ride.
Especially if Mr. Saville has an altruistic side to him???

[fabs]

Yes DIGGER my sentiments also, although was not hard to see it coming and from zetas point why not

[Joshuatree]

A Wistful scenario that may, or not work out that well, so good luck and enjoy the ride.
Especially if Mr. Saville has an altruistic side to him???

The opposite methinks;parsimonious he likes to slurp up all value into his own coffers imo.

[barleeni]

Results announced today. Slightly odd timing, around lunchtime. Slightly surprised to see a dividend announcement, also slightly surprised that record date is 2 months away!?!? why so long? I guess they will recomend to accept the takeoever offer from Zeta which will take effect before record date so that in fact it is Zeta who receives all the dividend value and not us common folk

[peat]

I'm out.
Its a miserable outcome as far as I;m concerned but its still vaguely been worthwhile.
a bit fracked off, but the risk was low and lowered quickly (due to capital refund) during the strategy.

[digger]

Results announced today. Slightly odd timing, around lunchtime. Slightly surprised to see a dividend announcement, also slightly surprised that record date is 2 months away!?!? why so long? I guess they will recomend to accept the takeoever offer from Zeta which will take effect before record date so that in fact it is Zeta who receives all the dividend value and not us common folk

Do not agree. The 4 cents will take place before the takeover offer. That way the directors can recommend it and not look so bad. Not look so bad as long as you forget about the 8 9 cent valuation plus all the other assets the company has. True valuation would be in the 90 or a dollar. Still 4 cents should cover all that.

[blackcap]

Results announced today. Slightly odd timing, around lunchtime. Slightly surprised to see a dividend announcement, also slightly surprised that record date is 2 months away!?!? why so long? I guess they will recomend to accept the takeoever offer from Zeta which will take effect before record date so that in fact it is Zeta who receives all the dividend value and not us common folk

What do you mean by dividend value? Because I always understood that ex-dividend the company value was reduced by the amount of the divided?

[Rabbi]

Independent directors not recommending Zeta offer and now in trading halt.

Any reason for trading halt?

[BigBob]

Independent directors not recommending Zeta offer and now in trading halt.

Any reason for trading halt?

Another offer - partial and non-binding at 77c (but adjusted for the divvie)... Bidding war...!! Sort of... Maybe... :-)

[blackcap]

Another offer - partial and non-binding at 77c (but adjusted for the divvie)... Bidding war...!! Sort of... Maybe... :-)

Which broker advised their client to sell 14,000 NZO at 68.5 at 5pm today? Gotta have a bit of egg on the face there. Or if an internet order someone maybe not reading the announcement properly.

Interesting to see this counter offer at .77. Also a lot more certainty. With the Zeta offer you were not assured of getting all your shares sold. Will be interesting to see what happens to the SP on Monday. Will Zeta now give up for control or do they think they can squeeze more than .77 out of NZO?