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  1. #16991
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    Quote Originally Posted by Getty View Post
    How does $6 sound?.
    I read a report that said NZO shareprice would multiply by a factor of 11.
    At that stage the SP was 55c.
    Quote Originally Posted by blackcap View Post
    Andrew Jefferies was hinting at about $5 being possible or thereabouts if successful.
    I'd be happy with either of those two prices - obviously the higher the better.

    It's at this point that human nature and greed kicks in and I start to think damnit why didn't I buy more when they were cheaper...

  2. #16992
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    [QUOTE=Lion;844865]Last October, Aussie analyst Peter Strachan estimated $6.51 for NZO and $1.31 for CUE if Ironbark is successful.

    But what happens when/if they get a good strike? Won't they then need substantial money to develop the field? Banks aren't lending for fossil fuel projects (although the size of this, plus big-name BP might change their minds, perhaps)

    Dare I mention a Capital Raise? I know some sh-ers here are also invested in NTL, including some big holders, including me (NOT a big holder!) And CRs there have been SP killers. Different companies, different situations, but a CR can drag down the share price. Perhaps if the SP is high enough and the glittering prize of Ironbark full of gas exciting enough, then a CR will be a different beast here.

    This is a concern I expressed in a meeting earlier this year .OGOG chuckled at my question-finance will be no problem if a good strike .

  3. #16993
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    Quote Originally Posted by Lion View Post
    Wouldn't one presume the SP would rise during drilling though?

    'The drill of the century' coming up, eh?
    Always hard to predict what Mr Market might do at any given time.

    If he is exuberant the SP could continue to sky rocket as speculators don’t want to ‘miss out’.

    Or all of the real ‘price action’ could happen just on the lead up.

    I remember when we drilled Kohakutai, during the weekly updates the company reported that gas was detected on the way down. That certainly pushed the SP up.
    No discovery in the end though, but there was certainly interest during the drilling.

  4. #16994
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    Please excuse the lack of knowledge on oil and gas in NZ but I thought the current government was trying to ban oil exploration and with the likelihood, labour wins this election won't they push for the ban furthermore and want more renewables. Coming from and working a very oil dominated region in Scotland where new wells are drilled regularly with expectations of large deposits only to find nothing and a government trying to ban exploration (as far as I'm aware) wouldn't this make the NZO a far greater risk if you look to hold long term?

  5. #16995
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    This drill is in Ausy my friend and they don't give a f..k about the impact of fossil fuel resources. Or much else..

  6. #16996
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    Quote Originally Posted by LEMON View Post
    Please excuse the lack of knowledge on oil and gas in NZ but I thought the current government was trying to ban oil exploration and with the likelihood, labour wins this election won't they push for the ban furthermore and want more renewables. Coming from and working a very oil dominated region in Scotland where new wells are drilled regularly with expectations of large deposits only to find nothing and a government trying to ban exploration (as far as I'm aware) wouldn't this make the NZO a far greater risk if you look to hold long term?
    For NZ acreage yes, the risk is incredibly high. Even if National got in and reversed the ban (highly unlikely at this stage) I think the damage has been done to our reputation now as a stable place for exploration investment.

    We hold a permit to the Barque Prospect in the South Island - 11Tcf prospect, and it probably won’t be drilled now due to the governments ban on new offshore permits.

    However, Ironbark is in Australia - and the Australians take a much more pragmatic view to dealing with their climate obligations. As such, there is a lot more interest over there in companies like Cue (and hopefully NZO when we list there next week).

    Plenty to be optimistic about right now as we are only a month or so away from a truly massive drill in friendly territory.

  7. #16997
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    So, in theory, NZO will drill in the international territory (in this case AU) with HQ based in Wellington I believe? Along with international partners, without any reprimand or Issues with NZ Government restrictions?

    More or less it's a case of you can dig a hole in the neighbour's backyard just not our own?

  8. #16998
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    Quote Originally Posted by LEMON View Post
    So, in theory, NZO will drill in the international territory (in this case AU) with HQ based in Wellington I believe? Along with international partners, without any reprimand or Issues with NZ Government restrictions?

    More or less it's a case of you can dig a hole in the neighbour's backyard just not our own?
    Not in theory - that is what is happening.

  9. #16999
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    Quote Originally Posted by LEMON View Post
    So, in theory, NZO will drill in the international territory (in this case AU) with HQ based in Wellington I believe? Along with international partners, without any reprimand or Issues with NZ Government restrictions?

    More or less it's a case of you can dig a hole in the neighbour's backyard just not our own?
    The way I read it, the NZ govt has banned anyon,e be they NZ or overseas based, from drilling holes in NZ territories. But not banned NZ companies from going about lawful business in other jurisdictions. That would be pretty hard to do.

  10. #17000
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    Quote Originally Posted by mistaTea View Post
    For NZ acreage yes, the risk is incredibly high. Even if National got in and reversed the ban (highly unlikely at this stage) I think the damage has been done to our reputation now as a stable place for exploration investment.

    We hold a permit to the Barque Prospect in the South Island - 11Tcf prospect, and it probably won’t be drilled now due to the governments ban on new offshore permits.

    However, Ironbark is in Australia - and the Australians take a much more pragmatic view to dealing with their climate obligations. As such, there is a lot more interest over there in companies like Cue (and hopefully NZO when we list there next week).

    Plenty to be optimistic about right now as we are only a month or so away from a truly massive drill in friendly territory.
    Just to be clear on Barque-it is an existing permit so not covered by the ban .
    The problem is that the current government is naive and stupid as far as the need for gas .
    We badly need more gas in the future for many industries and as a cleaner transition fuel .
    The ban on new permits has had the effect of chasing away explorers so we are unlikely to get many existing permits drilled .
    If we are going to get the gas we need in the future there has to be a change in government policy.
    Who knows when this will happen -maybe when jobs are threatened-but I believe it must happen.

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