NZ Oil & Gas (NZO)

[SPC]

True, I recall my ANZ shares had to be manually added as overseas income, however no NZ tax was deducted from those divs, whereas the NZO div does have NZ tax deducted. Time will tell..

[Grimy]

That may well be the difference. I do find the IRD tax return getting better each year.

[Sideshow Bob]

https://www.nzx.com/announcements/429791

New Zealand Oil & Gas Limited (ASX & NZX: NZO) notes the press release by Triangle (ASX: TEG 50% and Operator of the L7 permit) attached.

The Ventia 106 rig is signed up, all necessary approvals are obtained, and the Booth-1 well will commence drilling operations in late June 2024. This is the first prospect to be targeted using the 3D seismic acquired over the L7 and EP437 Permits in 2022. New Zealand Oil & Gas farmed into these permits in 2023 [see NZO announcement 17 Jan 23 for more detail]. The net cost to NZO for this well is forecast to be A$4.55 million in accordance with the farm in terms.

“This is very exciting news and the result of a lot of work over the last year," says Chief Executive Andrew Jefferies. "It will be great to get the bit spinning on the Booth gas prospect in the prolific Perth Basin. It is a promising onshore exploration target, surrounded by recent discoveries and developments, near infrastructure, in a market that needs gas to keep folks showers warm and cook their West Australian Crayfish; as well as powering the industry and mining that will enable our low carbon future. Gas is a three-letter word for transition”.

The Permits’ joint ventures comprises Triangle (ASX: TEG 50% and Operator); NZO (25%) and Strike Energy Ltd (ASX: STX 25%).

For further information please contact the Company on: email enquiries@nzog.com phone +64 4 495 2424

[Toddy]

Just back from a ride in the Vegas Redwoods to the exciting news that the first drill is all lined up.

Go NZO!

[Toddy]

Just back from a ride in the Vegas Redwoods to the exciting news that the first drill is all lined up.

Go NZO!

[mike2020]

There has been some quite strong interest in CUE lately, big buys of a million a day. I still feel it is undervalued but shouldn't CUEs improved value reflect on NZO?

[Sideshow Bob]

There has been some quite strong interest in CUE lately, big buys of a million a day. I still feel it is undervalued but shouldn't CUEs improved value reflect on NZO?

Interest in Cue has increased since end of February, but with almost 700 million shares on issue, but isn't massive. Only been 3 days since the divvy was announced that they've had more than 5m volume, and average over last 90 days still just under 1.1 million per day.

Cue paid out $14m AUD in the special divvy, and their market cap has gone up by circa $14m......

In theory, the increased value of Cue should be about 6.7cps per share. But there isn't much that moves the NZO share price!!

[mike2020]

Well compared to what was happening before they announced a dividend it is a far more liquid stock. Before you couldn't give CUE shares away now it looks like methodical accumulating.

[Toddy]

You need to give it more time for the disgruntled shareholders to exit.

Once the washout has happened we should see a very different picture with the NZO share price.

The current price represents a great opportunity to accumulate.