NZ Oil & Gas (NZO)

[blockhead]

Option (2) was something that came to my mind as well however I discounted it because there was not a sudden spike in the sp last week.

I'll go for option (1) but can't see how there could be any worse news than already exists.

[Balance]

Option (2) was something that came to my mind as well however I discounted it because there was not a sudden spike in the sp last week.

I'll go for option (1) but can't see how there could be any worse news than already exists.

Market has written PRC off.

It will simply be an update on what PRC means now to NZO?

[neopoleII]

the market might right it off, but the government cant just walk away that easy, not with $billions of coal sitting there.
what ever happens, nzo will be involved.

[Beagle]

Its quite clear the market values PRC at nothing but is concerned about NZO's future exposure in relation to it.
Hopefully this material announcement, if you can call it that, if its in relation to PRC will provide some much needed clarity on the situation, but wern't NZO saying they're investigating some overseas acquisition recently ?

That would be my favourite pick, followed by hopefully clarifying that they're writing PRC off completly and refusing to provide further funding / donations, depending on how you look at it.

I doubt there is a takeover for NZO as I suspect if one was forthcoming we would have allready seen some prior movement in the share price.

[digger]

Its quite clear the market values PRC at nothing but is concerned about NZO's future exposure in relation to it.
Hopefully this material announcement, if you can call it that, if its in relation to PRC will provide some much needed clarity on the situation, but wern't NZO saying they're investigating some overseas acquisition recently ?

That would be my favourite pick, followed by hopefully clarifying that they're writing PRC off completly and refusing to provide further funding / donations, depending on how you look at it.

I doubt there is a takeover for NZO as I suspect if one was forthcoming we would have allready seen some prior movement in the share price.

Very much my thinking to Roger. What about some action on PPP. Either a sell out or a takeover. PPP is pretty much a gift at current SP so if you add 30% on for takeover it is still not that far away.
So i am either voting for a PPP takeover or some market statement regarding the final on PRC.

[Beagle]

Good point Digger. Maybe PPP is in play ?

P.S. I just checked on announcements on PPP and there's nothing and I would have thought that if PPP was in play in relation to NZO would'nt that amount to a compelling argument for the directors of PPP to also request a trading halt ?

NZO gave no time frame for its likely announcement so anyone loooking to trade their shares today has to sit around twidling their thumbs waiting...is this best practice for company directors or don't they care ?

[the machine]

no announcement 'yet' on asx - market opens in 15 minutes

M

[Balance]

Relax, guys - trading halts can last for days.

[icarus]

"Five people are believed to be injured after a boat capsized off the Taranaki coast this morning.

The Westpac rescue helicopter was deployed and local surf life guards despatched IRBs after the capsize.

Nearby recreational vessels were believed to at the scene of the capsize, off Opunake, south of New Plymouth.

All five occupants of the boat are out of the water but emergency services report all are injured." Stuff.co.nz

Maybe this has something to do with it? not sure if it's in their area of operations?. Maybe not?.

[OutToLunch]

It's PRC going into receivership...