NZ Oil & Gas (NZO)

[777]

Two different things Roger.

They contributed $500,000 to a fund for the victim's families along with Pike's contribution.
The $12.5 million was to PRC not to the families.

[Beagle]

Two different things Roger.

They contributed $500,000 to a fund for the victim's families along with Pike's contribution.
The $12.5 million was to PRC not to the families.

I accept your point but nonetheless if the $12 million funding hadn't been forthcoming PRC wouldn't be able to continue operations and pay wages to the remaining employees and PRC wouldn't have been able to make their $500K contribution to the families so if we're strictly technical NZO funded a $1m donation to the victims families and a $11.5 million contribution to a company that looks absolutly finished by any rational analysis based on the balance of probabilities.

Any way you slice and dice it, it looks like an overall $12.5 million "donation" to me, we could argue all day about who the benificiaries of that are but I'm with friedegg on this one, its hard to see the commercial justification for it...and then there's the question i've previously speculated upon, as to whether the donations into this bottomless PRC pit end there ?

[fish]

definitely not a donation . NZO intends to get it back .
Exactly how will be worked out later but there are assets and a big resource and insurances which have probably been used as securities

[fabs]

FISH:
I too hope for recovery of some of the $50 Loan, whether it is a significant amount well, maybe more a case of when and how much.
In the meantime just a bit curious whether NZO is obliged under the SBB arrangement to wait till the S/P price goes up to $ 1.26 again before continuing.
When i asked DS at the 2009 AGM as the Share price tended to fall, [ was around 1. 08-1.10 ] he replayed nothing to gain by it, so now seeing that they happily bought at 1.26 plus, but have stopped now at 0.85 - 0.95
a bit puzzled.

[J R Ewing]

FISH:
I too hope for recovery of some of the $50 Loan, whether it is a significant amount well, maybe more a case of when and how much.
In the meantime just a bit curious whether NZO is obliged under the SBB arrangement to wait till the S/P price goes up to $ 1.26 again before continuing.
When i asked DS at the 2009 AGM as the Share price tended to fall, [ was around 1. 08-1.10 ] he replayed nothing to gain by it, so now seeing that they happily bought at 1.26 plus, but have stopped now at 0.85 - 0.95
a bit puzzled.

One thing that might be causing a halt to the share buyback is that NZO surely has some inside knowledge of the PRC situation that is not available to the market. So buying back shares while that situation continues could be considered insider trading.

[neopoleII]

whats to stop a takeover now that the sp is cheap?
if the divi had been about 10cps i dont think the sp would be where it is now.
kupe and tui doing well, plenty of cash in bank, even money being spent to burn share certificates..... sorry i mean cancel out.......

if shareholders had been looked after, they would of supported the sp right now, but with a 5cent divi its still at around bank rates.
a 10cent divi would of supported the sp.

anyway, the directors know what there doing...... dishing out cash every where but to the shareholder.

[Casa del Energia]

whats to stop a takeover now that the sp is cheap?
if the divi had been about 10cps i dont think the sp would be where it is now.
kupe and tui doing well, plenty of cash in bank, even money being spent to burn share certificates..... sorry i mean cancel out.......

if shareholders had been looked after, they would of supported the sp right now, but with a 5cent divi its still at around bank rates.
a 10cent divi would of supported the sp.

anyway, the directors know what there doing...... dishing out cash every where but to the shareholder.

Surely raising div would make little material difference to the sp (GPG usualy pays sod all in Divs (oops perhaps not best example since that's in the toilet at the mo' as well). ..

BUT here's an extreme Christmas wish - NZO take more equity in pike to prevent a t/o or receivership so that it (pike) can get up and running once someone has tipped some water over the fire. That way prc shareholders (me) still keep some equity and not asked to stump up to buy even more scrip themselves (since I'm in my usual financial state of desperately broke and can only buy half a loaf of bread at a time - this would seem to be an excellent plan).

[POSSUM THE CAT]

Casa del Energia That might be just as practical as flushing money down the toilet.

[fabs]

HEY CDE,
AS CRAZY AS YOUR PROPOSAL IS, WOULD NOT PUT THIS IDEA PAST THIS MANAGEMENT.
Thanks but no thanks.
PRC is a totally separate entity since its separation from NZO they are public CO's.both and have to make it on there own, in wait for it,
Conjunction with there S/H approval and interest at heart.
A real test it seems for the board of NZO.
As to raising Div,s or SBB, maybe saving money to bail out PRC in 9,18,or36 months time

[fabs]

One thing that might be causing a halt to the share buyback is that NZO surely has some inside knowledge of the PRC situation that is not available to the market. So buying back shares while that situation continues could be considered insider trading.

ON THE OTHER HAND
NZO T/O PRCs OTHER 70% FOR BETWEEN 20-40-MIL. COLLECT ABOUT THAT MUCH FROM INS.WAIT TILL THE DUST HAS SETTLED 45MILL DEPTH + INTEREST GOES ON THE BOOKS. PLUS HUGE TAX WRITE OFFS FROM FUTURE EARNINGS FROM PRC WHEN IN 1 1/2 - 2 YEARS CLEANED UP AND COMPLIANT WITH A NEW FORMAT BROUGHT TO FULL PRODUCTION.
FLOATED AS A GOING CONCERN.
ANY BODY CARE TO DUE THE SUMS ????