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  1. #16961
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    Can this kind of remuneration in the current climate be justified?
    What are so many employees actually doing?[/QUOTE]

    Going by theire ad nausa repeated Mantra, Management is trying hard to create Wealth for S/Hs,
    Maybe a Large Share of the renumaration is for trying hard?
    Btw;: hope no one comes to any HARM going too hard though
    .
    For Shouldering this Laborus Burden, the top Man untill suxcessfull /not, needs to get by on $30OOO.00 gross per week.

  2. #16962
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    Quote Originally Posted by blackcap View Post
    Hi MistaTea, whats the gist of the article? No longer am subscribed to the NBR.... cheers.
    Just talks about how there is a push to get more independent directors on the board. A noble enough intention, but will ultimately get nowhere.

    Also discusses how Mr Dunphy and Ms Sharif are standing for election. They have zero chance of getting on The Board.

    Though the SoA was a fiasco - personally I have put that all behind me now. Would I prefer for Dr Archer to no longer be on The Board? Sure. Does her still being on The Board cause me sleepless nights? No.

    All I care about right now is Ironbark.

    OGOG will use their blocking vote to maintain the status quo. Any notion that protest votes by minority shareholders are going to somehow shame OGOG into doing 'the right thing' is fanciful imo and more a distraction than anything else. With a little luck, after this AGM, there will be no more 'noise' from Mr Dunphy and co. That is probably fanciful thinking on my part though!

    There are also advantages in having OGOG run the show - they do have expertise in the industry and are well connected. Adding brand new people to The Board who have little to no real knowledge of the O&G industry is not something I would personally want.

    Ultimately the system we have works - there are protections for minority shareholders. They offered to buy our equity... I, and a more than sufficient number of others said "no thanks". Yes there were things we did not like about the approach (i.e. the fanciful 5% probability of Ironbark success...) but the deal did not go ahead, and to be fair to OGOG they left it at that.

    ...and now I want to participate in the Ironbark drill (of the century!) with all of my business partners without feeling like I need to find new opportunities to try to rub their noses in it.

    Just my personal view point for what little it is probably worth.

    But hey, we are probably only about 5 or 6 weeks from The Drill! WHOO HOOO!!

  3. #16963
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    Well said mistaTea - you've summed it up nicely.

  4. #16964
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    Cue seeing a little price action.

    According to the markets, Cue is valued today at ~NZ$136M, but NZO is only NZ$106M.

    The sooner we get that ASX listing the better - there will be fairly big interest in Cue and NZO in Aussie as we start drilling. Both from investors and speculators.

  5. #16965
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    or, just get Ogg to start posting on this thread!

  6. #16966
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    Quote Originally Posted by mistaTea View Post
    Cue seeing a little price action.

    According to the markets, Cue is valued today at ~NZ$136M, but NZO is only NZ$106M.

    The sooner we get that ASX listing the better - there will be fairly big interest in Cue and NZO in Aussie as we start drilling. Both from investors and speculators.
    NZO holds 50.04% of Cues shares (valued now at$68 million )but not reflected at all in the market valuation of NZO.
    One could assume that there is no appetite for any risk on the NZX or perhaps investors have been put off by the only 5% chance of successful drill at Ironbark proclaimed by the so called Independent Directors(re-appointed by OGOG against the vote of minority shareholders)
    It is expected that NZO will list on the ASX by Xmas.
    With Ironbark being drilled at that time it would be a reasonable prediction that NZO market valuation will follow the same trend as CUE ie possibly double .
    Would be a nice Xmas present

  7. #16967
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    Quote Originally Posted by fish View Post
    NZO holds 50.04% of Cues shares (valued now at$68 million )but not reflected at all in the market valuation of NZO.
    One could assume that there is no appetite for any risk on the NZX or perhaps investors have been put off by the only 5% chance of successful drill at Ironbark proclaimed by the so called Independent Directors(re-appointed by OGOG against the vote of minority shareholders)
    It is expected that NZO will list on the ASX by Xmas.
    With Ironbark being drilled at that time it would be a reasonable prediction that NZO market valuation will follow the same trend as CUE ie possibly double .
    Would be a nice Xmas present
    Is it really expected to take that long for the ASX listing to finalise fish?

    I re-read Andrew’s comments - “before the end of Calendar 2020”. I hope the listing comes in long before Xmas - we have been a dead duck on the NZX for some time now.

    Cue shares are Probably going to keep going up from here. It’s not inconceivable that they could have a market cap anywhere between NZ$150-200M during the drill. Maybe higher.

    If the market was behaving rationally you would expect NZO to be in the NZ$200-250 range then ($1.20 - $1.50 per share).

    Not a market prediction (I don’t do that). Just pointing out that if NZO price action was to behave in a similar way to what is expected for CUE then the near-term SP movement could/should be significant.

  8. #16968
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    Quote Originally Posted by Getty View Post
    or, just get Ogg to start posting on this thread!
    Well, Infratil are more likely to try a takeover of NZO than Sky TV, that’s for sure! Haha!

  9. #16969
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    Quote Originally Posted by mistaTea View Post
    Is it really expected to take that long for the ASX listing to finalise fish?

    I re-read Andrew’s comments - “before the end of Calendar 2020”. I hope the listing comes in long before Xmas - we have been a dead duck on the NZX for some time now.

    Cue shares are Probably going to keep going up from here. It’s not inconceivable that they could have a market cap anywhere between NZ$150-200M during the drill. Maybe higher.

    If the market was behaving rationally you would expect NZO to be in the NZ$200-250 range then ($1.20 - $1.50 per share).

    Not a market prediction (I don’t do that). Just pointing out that if NZO price action was to behave in a similar way to what is expected for CUE then the near-term SP movement could/should be significant.
    I have been mulling the Australian listing over but in the absence of a capital raise or offer of shares, I do not see how they can trade in Australia. OGOG are not selling, so it will be up to NZ shareholders to transfer their shares across to the Australian registry. I do not see many doing that. So its is quite possible that there are a bunch of bids for NZO on the ASX but no offers and no trades. Unless I am missing something.

  10. #16970
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    Quote Originally Posted by blackcap View Post
    I have been mulling the Australian listing over but in the absence of a capital raise or offer of shares, I do not see how they can trade in Australia. OGOG are not selling, so it will be up to NZ shareholders to transfer their shares across to the Australian registry. I do not see many doing that. So its is quite possible that there are a bunch of bids for NZO on the ASX but no offers and no trades. Unless I am missing something.
    I suspect an Aussie placement is on the cards. Not sure how much OGOG might be prepared for their % holding to drop though.

    We only have about $50M cash available to buy more assets. That won’t go very far so more money is needed to be able to do anything meaningful.

    That money either has to come from a bank loan (harder to come by these days for fossil fuel companies) or new investment capital.

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