NZ Oil & Gas (NZO)

[digger]

Told you yesterday that a stock exchange release would be soon on its way given the large turnover. ACC has been buying up ,now has lifted by 1.5 % to roughtly 6.5% of total of all shares held in NZO.

[Mr Tommy]

ACC been buying up large. SSH out

[Beagle]

Told you yesterday that a stock exchange release would be soon on its way given the large turnover. ACC has been buying up ,now has lifted by 1.5 % to roughtly 6.5% of total of all shares held in NZO.

1.5m at the six year low of 81 cents. Has it crossed anyone's mind that there must also be heavy institutional selling for those volumes to go through.

[777]

1.5m is not a lot.

[Beagle]

Big Bob & Roger how many NZO shares do Macquarie own that they want to sell or is it just My suspicious mind, about valueations

There's another valuation doing the rounds at $1.05 but as I and others have noted any valuation is meaningless with current management in place.

Big Bob - Here's my record for the 2010 year in relation to PRC and NZO, I made a small profit on NZO and here's my blog post of 20 September regarding PRC. I wonder how many other investors have made money out of both PRC and NZO this year ?
Not too shabby for an armchair manager !!

20-09-2010 11:56 AM #6398 Roger
This company, at very best, has an extremly chequered track record, at worst management are inept, incompetent, arrogant and have displayed a woeful approach to keeping investors informed of on-going developments, or more accuratly, what's not being developed.

I'm tired allready and I've only been an investor for three weeks !!

In at 97, out at 1.08, 11% profit for three weeks and won't be back till they can actually prove they have a viable profitable operational mine with management that have demonstrated a completly new approach to investor relations. Lets get real here guys. This company has a truly appalling record. At least NZO have some credibility and notwithstanding their sizeable investment in PRC are probably a better bet IMO.. Last edited by Roger; 20-09-2010 at 11:58 AM.

[Doyle]

http://www.stuff.co.nz/business/indu...er-contractors

I know I sound heartless, but personally im really dissapointed with this. Contractors always know there is a risk they won't get paid, that is why they charge a premium compared to their cost of labour.

NZO has lost enough money on this one as it ist I really feel they should screw every last cent they can out of PRC. Stuff anyone else, they have a moral responsibility to their shareholders.

[Beagle]

http://www.stuff.co.nz/business/indu...er-contractors

I know I sound heartless, but personally im really dissapointed with this. Contractors always know there is a risk they won't get paid, that is why they charge a premium compared to their cost of labour.

NZO has lost enough money on this one as it ist I really feel they should screw every last cent they can out of PRC. Stuff anyone else, they have a moral responsibility to their shareholders.

You're absolutly right Doyle and I strongly suspected this would happen and its yet another example of truly pathetic management by NZO. They donated $500,000, provided all further funding of $12m almost immediatly when they had a force majure clause they could and should have excercised which amounts to a further donation and now this.

Fact is contractors have billed top commercial rates, (not wages, commercial contractors rates), , tens of millions of dollars to PRC for years and done extremly well indeed out of the mine yet shareholders have received nothing but repetitive taps on the shoulder for more capital, yet the Directors of NZO roll over like a labrador dog and hand out more of shareholders money despite having secured preferential status.

I've posted many times that the Directors of NZO have forgotten who they act for and this is yet another example of that. I am soooo happy to be out and feel sorry for all remaining shareholders.

[777]

Well don't feel sorry for me please. I have bought some more more and feel very relaxed about it.

[tim23]

Roger you are sharp can you kindly tell us all what to buy or sell next or even this weeks lotto numbers?

[RenHoek]

...I made a small profit on NZO.... Not too shabby for an armchair manager !!...

Huh!!? This does not seem right Roger.

Your post here says you bought shares on the 29th Nov for somewhere between 91c and 93c.
( NOTE: previous low was somewhere around 87c )

... Disclosure, bought some more NZO this morning...

Then your post here from the 22nd says you sold out at about 83c

... I'm out of this DOG today and won't be back...

So unless you bought LOTS at 81c at their record low a week ago, you seem to have lost money.