NZ Oil & Gas (NZO)

[Beagle]

I half expect the NZO management to recommend to accept the offer. That would absolutley confirm that they have no idea what they are doing. I still cannot believe they sold Kupe, but what do I know.

More to the point Chippie, what do they know ? This thing has been a deep mineshaft of value destruction for decades.

[tim23]

I expect the board to try and extract some more thats their job 75c min I reckon.

I half expect the NZO management to recommend to accept the offer. That would absolutley confirm that they have no idea what they are doing. I still cannot believe they sold Kupe, but what do I know.

[blackcap]

I expect the board to try and extract some more thats their job 75c min I reckon.

If a board were to say to accept an offer of less than cash holding then surely that would be breaking the law?

[tim23]

Not that I'm aware of

[Lion]

BTW: What happened to drilling the Barque PROSPECT IN THE 2017 YEAR and the negotiation SUPPOSEDLY IN PROGRESS FOR SAME SINCE THE END OF LAST YEAR Regards farm out partners, Any progress there and any Value in that and what of it and ?????????

fabs - here's a copy from the company's report on Barque, dated December 2016.


"The further work required to progress these resources to contingent

or reserves categories (drilling of the exploration well) is likely to occur
within the next 2 - 5 years; subject to changes in the current & future industry
environment. The provisional drill date is currently anticipated as early
2020."

I'm planning to hold my shares - I think Zeta can offer a bit more.

[fabs]

fabs - here's a copy from the company's report on Barque, dated December 2016.


"The further work required to progress these resources to contingent

or reserves categories (drilling of the exploration well) is likely to occur
within the next 2 - 5 years; subject to changes in the current & future industry
environment. The provisional drill date is currently anticipated as early
2020."

I'm planning to hold my shares - I think Zeta can offer a bit more.

Roger that Lion and thanks,
Cheers

[peat]

[Interesting Development.
From 9/117 to 10/7/17 about 6 months
Total shares traded = 11'734000 mill. at full working day weeks 26 in total @ 450000 per week
From 17/7/17 to 4/8/17 = 12'577000 " " " 3 " @ 4'190000 mill. per week

And now the Announcement they are worth 0.72
What a nice windfall for some lucky punters which bought on average for between 60 TO 62 CENTS over the last 3 weeks.

MICKY MOUSE AND THE WILD WEST RULES in the nz Share market?

hey fabs I dont see any 'westness' from what you say there

I see Saville has been excluded from the discussions

[fabs]

hey fabs I dont see any 'westness' from what you say there

I see Saville has been excluded from the discussions

Ha,Ha!
Consider myself a westie peat, trust me i know what i am talking about.
Saville needs not to be there, all the discussions done, all Smoke & Mirrors from now .
But ok, leave the W/W part out and settle for Mickey.
CHEERS

[digger]

Ha,Ha!
Consider myself a westie peat, trust me i know what i am talking about.
Saville needs not to be there, all the discussions done, all Smoke & Mirrors from now .
But ok, leave the W/W part out and settle for Mickey.
CHEERS

Fab,, Have to say I agree with you. The decision has been made,all that is left is to dress it up to look like its independent. Its a wonder that the takeover rules had not thought of this and in a case like we have here require it to be done completely free of NZO dominance from Zeta.
They will probable push Zeta up a cent or two according to a prearranged deal to make it look good. We will probably be told it is the best offer on the table and that the SP has risen since the offer was made.. Also that if not recommended the SP will fall back to what it was or lower. Then the directors can sit around and do nothing to make the SP fall even more.
This is not a situation where it can be said "you are between a rock and a hard place". NZO holders are the hard place.
Thoughts.

[blackcap]

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)