NZ Oil & Gas (NZO)

[mistaTea]

I see Chevron outbid us for Anadarko...

😂🤪

[flyingmariner]

Indeed, Benjamin Graham would be salivating at the opportunity to buy NZOG right now.

It would be like buying a house for $800,000 with a small rent-producing granny flat out the back. The rent produces just enough income to cover basic overheads (rates, lawn mowing etc).

Once you take possession of the house, however, you take a look in the basement only to find $1M sitting there in a briefcase waiting for you! You effectively bought $1M for $800K.

Unfortunately, even though the share price is ridiculously low right now - the company is illiquid. Trying to purchase meaningful amounts of stock (in a cost-effective way) is difficult at the moment.

Tried that recently, waste of time (although to be fair it wasn't at the ask) Picked up a few even though the buy order was in for a month. ASB Securities kept charging the brokerage on the dribs and drabs. Not gonna do that again.

[blackcap]

Tried that recently, waste of time (although to be fair it wasn't at the ask) Picked up a few even though the buy order was in for a month. ASB Securities kept charging the brokerage on the dribs and drabs. Not gonna do that again.

Switch brokers. At Direct you only get charged the $29.90 on the initial purchase. After that any dribs and drabs are free of brokerage.

Or don't sit on the bid and when there is an offer half a cent off the bid that is meaningful just take the lot out.

[BigBob]

At Direct you only get charged the $29.90 on the initial purchase. After that any dribs and drabs are free of brokerage.

- so does ASB in my experience....

Or don't sit on the bid and when there is an offer half a cent off the bid that is meaningful just take the lot out.

- totally agree - keep an eye on the depth and take it all when enough is on offer within a cent or two...

[flyingmariner]

Good points blackcap...............I should've just moved it to the ask. Actually I just checked and will take that back. ASB didn't charge the full brokerage which is normally $30 but instead two lots of $15 for less than 3000 shares. The order was for 4 times that. That's expensive and I wish there was an AON (all or nothing option) Just as an aside about 5 months ago I bought an Aussie ETF and sold it a few weeks later. When I saw the contract it showed a loss, how could that possibly be? After looking more closely it was about the only day when the exchange rate went against the NZD. I'll be paying attention next time.

[blackcap]

Good points blackcap...............I should've just moved it to the ask. Actually I just checked and will take that back. ASB didn't charge the full brokerage which is normally $30 but instead two lots of $15 for less than 3000 shares. The order was for 4 times that. That's expensive and I wish there was an AON (all or nothing option) Just as an aside about 5 months ago I bought an Aussie ETF and sold it a few weeks later. When I saw the contract it showed a loss, how could that possibly be? After looking more closely it was about the only day when the exchange rate went against the NZD. I'll be paying attention next time.

If you want some... there are 17,000 offered at 48 and 21,000 at 48.5. But looks like plenty going through at 48. I grabbed some at 48 last week.

[mistaTea]

https://www.nbr.co.nz/story/pm-confi...ew-investments

According to Jacinda its all gravy, and the oil & gas industry have nothing to worry about. They are being engaged with by the coalition every step of the way to ensure their own 'just transition', and all of their feedback is being taken very very seriously indeed.

I, for one, am reassured because her face looks so earnest as she hammers home each point.

[blackcap]

https://www.nbr.co.nz/story/pm-confi...ew-investments

According to Jacinda its all gravy, and the oil & gas industry have nothing to worry about. They are being engaged with my the coalition every step of the way to ensure their own 'just transition', and all of their feedback is being taken very very seriously indeed.

I, for one, am reassured because her face looks so earnest as she hammers home each point.

Haha nice write up. She really does have that "earnest" look down pat doesn't she.

[mistaTea]

Haha nice write up. She really does have that "earnest" look down pat doesn't she.

Oh yes, it seems our PM believes the content of what she is saying won't matter too much so long as she looks like she really really REALLY means it.

She keeps banging on about Hydrogen. Now, I am no expert by any means but I am pretty sure natural gas is a key input into the Hydrogen creation process. We can help her out there.

Alternatively, you need electricity to do it...which, of course, is better (cleaner anyway) generated from gas than the coal we import during periods of low hydro.

I just can't believe she can just say this stuff and get away with it.

[blackcap]

I just can't believe she can just say this stuff and get away with it.

Well she can because she is being moral and kind. And that is actually more important than truth these days.