NZ Oil & Gas (NZO)

[Beagle]

I was one of the main supporters calling for the buy-back. The logic behind buyback's is well established world-wide. Seeing as its clear NZO can't find another target to acquire and they think there own shares are the best buy on the market, why not buy them back ? Surely this makes common sense so as to be earnings acretive to remaining shareholders on an earnings per share basis. I would have thought a time like this would be the perfect opportunity for the company to continue with the buyback, but clearly the Directors know better but don't seem to want to bother updating the market why. Yet another example of "great" shareholder communication ?

[pietrade]

And to fill in the time between making pronouncements, why not have a look at the series that this one is just
a sample of-
http://www.youtube.com/watch?v=WeBtd...eature=channel

[fish]

nice to see tapis at over $96 us and a better exchange rate .
Diggers prediction of $100 by the years end is close to being fulfilled.
I e-mailed Chris Roberts a few days ago-they did stop the buy back with the explosion-didnt want to be accused of insider trading amongst other things . They are reconsidering starting anyday .

[Balance]

What is the point; obviously there are people with so much superior knowledge to me on Sharetrader.

To be honest unlike you Balance (who must be very rich due to your superior knowledge and trading expertise) I have a day job to cover the bills so I only check in here from time to time.

Unicorn covered this for me when he said “Meanwhile some people will panic and lose money, others will be more rational and will make money” and “it will take a while to stabilise”. There is no point in buying back shares when the market is like this. To be honest I personally do not think there is any point to buying back shares at any time.

I have a paper loss of >$100K on NZO since the Pike explosion. I have as much reason to get on the case of NZO management but choose not to. There is no problem if people have different opinions, but if you do not like a company then just make sure you do not hold any shares.

Not much to add to this really.

A question was asked of you when you professed to know why NZO stopped the share buyback. You chose to make the assertion and then, cannot answer.

Also, if a person does not like a company but thinks it has good assets and good potential which are being run down by bad/poor management, that person has every right to criticize and bring it to the notice of all shareholders, investors and the market. That's how things improve and progress can be made.

Are you suggesting otherwise?

[digger]

A question was asked of you when you professed to know why NZO stopped the share buyback. You chose to make the assertion and then, cannot answer.

Boy if there ever was an example of the kettle calling the pot black this is one.Balance you are the champion at making statements and then never following up with an answer when other posters ask for one. You simply ignor and go on and cover it up with more assertions.As you know your policy works as other poster get tired of asking for your proof.

[Balance]

Boy if there ever was an example of the kettle calling the pot black this is one.Balance you are the champion at making statements and then never following up with an answer when other posters ask for one. You simply ignor and go on and cover it up with more assertions.As you know your policy works as other poster get tired of asking for your proof.

Sorry, Digger but I do not listen to NZO or PRC management assertions and then, pass it onto other posters and shareholders as gospel truth as some NZOers and Pikers do.

I question and then, let the penny drop for those who have ears and care to listen, eyes and those who choose to see.

[digger]

nice to see tapis at over $96 us and a better exchange rate .
Diggers prediction of $100 by the years end is close to being fulfilled.
I e-mailed Chris Roberts a few days ago-they did stop the buy back with the explosion-didnt want to be accused of insider trading amongst other things . They are reconsidering starting anyday .

Hi Fish,
My $100 for Tapis for for 32 december is good enough to now call it a success. Shame i waisted time on the oil price at year end,should have been more interested in the fait of PIKE at year end.
The liability that NZO feels it has to pick up worries me and the market as well it seems.See subcontractors are suggesting that NZO should consider putting them higher up the receiver list than what they are legally entitled.Sad for them i say as they wanted to be contractors and not workers as it would mean more money if all went well. The fact that the mine blow up is only negative to them as in the good times they chose to not insure themselves for such an event.The risk should stand now in its legal arrangement and let each group sort themselves out. Maybe some subcontractors will themselves go bankrupt and if they do that must not be NZO responsbility to pick up.

[Balance]

nice to see tapis at over $96 us and a better exchange rate .
Diggers prediction of $100 by the years end is close to being fulfilled.
I e-mailed Chris Roberts a few days ago-they did stop the buy back with the explosion-didnt want to be accused of insider trading amongst other things . They are reconsidering starting anyday .

Good on NZO for being such a good corporate citizen.

They are probably going to need to hold cash now though for the eventualities ahead.

[Beagle]

Good on NZO for being such a good corporate citizen.

.

I'd rather they took more of an interest in looking after their owners. Regarding your comment on the Investigate article on PRC thread and not looking good for directors and management of Pike, lets remember who's the Chairman of NZO and the fact that NZO stated they had run their own ruler over PRC and were more than happy with the operation.

A classic case of guilt, lets throw around shareholders $12m "funding" because its the right thing to do to show we really do care. Might have been better to run a really thorough operational review of PRC's safety systems in the first place, stitch in time saves nine ? Seeing as other companies manage the Tui and Kupe developments I would have thought all those staff could have at least run a really thorough and comprehensive operational review of PRC's systems wouldn't you ?

[fish]

Hi Digger,

Tapis now at $98 so not quite there yet .
Pike River is still spooking investors and putting the sp down . NZO are highly unlikely to give more to Pike and hopefully will get their loan back in the course of time .With technological advances I wonder if underground mining for coal oneday could become remote-just as the drones are flown over afghanistan etc . Might be a good idea if nzo kept some kind of interest in the mine .