NZ Oil & Gas (NZO)

[mistaTea]

Cue have not come out and said that when they announced a 25% chance of success at Ironbark they really meant 25% chance of geological success which translates to 5% financial success.

Agreed. Now that NZOG and OGOG are at pains to push the message that Ironbark is a foolish gamble with 95% certainty of failing...if there was any merit in what they were saying I would expect Cue to have published a similar statement to the ASX.

The shares in Cue continue to rise since the farm-in agreements were locked down, so one would think Cue has a duty to the market to come clean. Of course what they meant all along by "25% chance of success" was that there was only a 25% chance of getting a whiff of of gas down there. It's only actually 5% that any gas found can actually be extracted! Perfectly (un)reasonable.

One thing is for sure - someone is being incredibly dishonest here. And it ain't Cue.

[digger]

Agreed. Now that NZOG and OGOG are at pains so push the message that Ironbark is a foolish gamble with 95% certainty of failing...if there was any merit in what they were saying I would expect Cue to have published a similar statement to the ASX.

The shares in Cue continue to rise since the farm-in agreements were locked down, so one would think Cue has a duty to the market to come clean. Of course what they means all along by "25% chance of success" was that there was only a 25% chance of getting a whiff of of gas down there. It's only actually 5% that any gas found can actually be extracted! Perfectly (un)reasonable.

One thing is for sure - someone is being incredibly dishonest here. And it ain't Cue.

Given the other drills in this basin the chances of getting a whiff of carbohydrates at Ironbank must be as close to 100% as you can get. Even one molecule is detection so there is no way Cue would say the chances are only 25% . Cue was clearly stating the chances of commerical success. Northington are fudging the results to fit there story..

[Sideshow Bob]

And of course every 1 cent Cue increases in value, basically this is worth 2c per share towards the value of NZO. Hit 11c again yesterday - so 4c per NZO share better than when the scheme was announced.

[Lion]

There are so many innaccuracies revealed in the report now, that I wonder if the courts might consider it to be dishonest, and so declare the whole SoA invalid.

[RTM]

Already covered. Link no good.

[mistaTea]

https://www.nzx.com/announcements/341035

John Pagani just resigned.

[Sideshow Bob]

https://www.directbroking.co.nz/Dire...spx?id=5134260

Hmmmm…..

I certainly appreciated his participation on this forum from time-to-time - and the difficult line to tread in doing this. Certainly other companies could do well to take a leaf from this book.

[mistaTea]

I certainly appreciated his participation on this forum from time-to-time - and the difficult line to tread in doing this. Certainly other companies could do well to take a leaf from this book.

Yes, my dealings with John were always professional and he would make an effort to respond to my queries in a timely manner.

We will never know John's full reasoning for resigning - however it does appear to be an odd thing to do in the middle of a SoA. One would have thought that, if John just wanted to move on, he would have waited until after the special meeting in October to do so.

Certainly not a good look for NZOG right now, given the serious criticisms they are taking.

I do wish John well in his future endeavours. We disagreed on some key elements recently, but it was never personal.

[arjay]

Yes, my dealings with John were always professional and he would make an effort to respond to my queries in a timely manner.

We will never know John's full reasoning for resigning - however it does appear to be an odd thing to do in the middle of a SoA. One would have thought that, if John just wanted to move on, he would have waited until after the special meeting in October to do so.

Certainly not a good look for NZOG right now, given the serious criticisms they are taking.

I do wish John well in his future endeavours. We disagreed on some key elements recently, but it was never personal.

John follows this thread, so perhaps not so surprising?

[fish]

John follows this thread, so perhaps not so surprising?

I am not surprised at all.
A possible scenario is -
John is instructed to make the 13/9/19 nzx announcement.He is assured all the facts are correct and not misleading by the Independent directors.
The announcement is made.
He reads the feedback and it dawns on him he has been misled.In a worse case scenario the takeovers panel can start criminal proceedings-massive fines and years in Jail can ensue.He meets his lawyers.
They all meet management.He is advised to resign