NZ Oil & Gas (NZO)

[Casa del Energia]

Hi Fish

Posting here is just feeding the trolls. I tested the water yesterday and found some completely silly statements are being posted.

I have better things to do than to contribute to a forum where people are making nonsensical statements for their own strange purposes.

I'd be interested to hear a valuation. And others opinions on (e.g.) NTA sans pike. Toss this troll a crumb.

[Balance]

I'd be interested to hear a valuation. And others opinions on (e.g.) NTA sans pike. Toss this troll a crumb.

Fascinating that those who are perennially following the words and wisdom of the directors and management of NZO and PRC get so defensive when asked to produce the 'goods'. Alas, no more goods to be produced by PRC - not even spin or PR bs anymore.

Market will discount NZO now to buggery - how can you trust management when they have squandered so much of the cash generated from Tui and the options exercise on misadventures like PRC. PPP and dry holes? GFC presented one of the great opportunities to buy oil and gas assets cheap - NZO bought a lemon! Tui is past its peak.

So what will management do next? Maybe invest in Fiji?

[notie]

you really do have to question the judgement of this company's management and directors. They had a big pot of money but blew it and have got very little to show for it.

Expect them to relinquish holdings like Barque which the joint venture applied for a 6 month drilling extension for in July 2010 and Kaupokonui which requires a drilling commitment by Jan 2011.

They really need some good news or their share price is going to fall, potentially dropping out of the NZX 15 and then institutional investors will sell out forcing the price down even further. In all likelihood nzo would blow more money buying back the shares to keep the price up, but that isn't going to save them.

Are they going to fade away or go out in a blaze of glory?

[Beagle]

Fascinating that those who are perennially following the words and wisdom of the directors and management of NZO and PRC get so defensive when asked to produce the 'goods'. Alas, no more goods to be produced by PRC - not even spin or PR bs anymore.

Market will discount NZO now to buggery - how can you trust management when they have squandered so much of the cash generated from Tui and the options exercise on misadventures like PRC. PPP and dry holes? GFC presented one of the great opportunities to buy oil and gas assets cheap - NZO bought a lemon! Tui is past its peak.

So what will management do next? Maybe invest in Fiji?

That's better balance.

I've run my numbers on NZO. Taken the average valuation from Brokers valuations inclusive of pike, see NZO's website, and that works out about $1.60, less 40 cents per share for completly writing off PRC and all loans and gifts to same = $1.20 per share, then I've discounted this by an appropriate multiple (50%), for NZO Directors and managements world class expertise" and fair value with existing directors and management is 60 cents in my opinion. I can't wait to get out. Hoping some new gullible stary eye'd punter will pay me 85 cents today.

P.S. I see they've started the buy-back again, pay me 85 cents and you can have the lot.

[777]

If you are that disenchanted then why not sell at market?

[Balance]

If you are that disenchanted then why not sell at market?

Roger is waiting for the diehard NZOers who trust the directors and management (as they have posted so persistently in the past) to show their faith and buy the shares above current prices.

Fair enough.

[winner69]

If you are that disenchanted then why not sell at market?

Prob wants the companies cash .... not just anybodies money

When you think of it that way rathehr odd some who fronted up with $1.50 of real money to put in the NZO coffers now only get 80 cents back if they decide to sell then back to the company

[Kees]

Prob wants the companies cash .... not just anybodies money

When you think of it that way rathehr odd some who fronted up with $1.50 of real money to put in the NZO coffers now only get 80 cents back if they decide to sell then back to the company

Nothing odd about it, great business plan that's the way the company makes money not a bad scheme really.

[Beagle]

Nothing odd about it, great business plan that's the way the company makes money not a bad scheme really.

I spotted the spelling mistake, you mean "scam"

777 - I'm just trying to mitigate my losses a bit but I'm not confident there's many stary eye'd true believers out there so will probably do what you're suggesting later today.

[jwang]

"Be fearful when others are greedy, and be greedy when others are fearful." Any traders know about this. I'm buying NZO as my calculation shows its value should be at least $1.00. Please see followings.

Equity at 30/06/10

446,839,000

Total CB to PRC at 23/11/10

38,596,711

Total Short-term Facility at 26/11/10

25,000,000

Total Cost of Equity to PRC

82,000,000

Equity excluding Loan & Investment in PRC

301,242,289

No. of Fully paid shares issued

389,093,000

Net Assets per share at 30/06/10

1.148

Net Assets per share excluding PRC interest

0.77

Average PB in the past 9 years

1.29

Valuation excluding PRC interest

1.00

PRC is claiming $100m insurance
Supporse NZO get 10% debt recovery, then

307,601,961

Then Net Assets per share

0.79

Then Valuation

1.02

Supporse NZO get 30% debt recovery, then

320,321,303

Then Net Assets per share

0.82

Then Valuation

1.06

Supporse NZO get 50% debt recovery, then

333,040,645

Then Net Assets per share

0.86

Then Valuation

1.10