NZ Oil & Gas (NZO)

[fabs]

This co. is noting but a big JOKE, supposed to be in the top 50.
But with a management of a bottom 10 co.
Welcome to a roller coaster without brakes.

[Awamoa]

Another example of letting the shareholders wear the hard times.
Surely this is an opportunity for those on the big salaries to wear their share of the pain and take a cut too.
There was plenty of cash about when it came to propping up Pike in its days before receivership.
I have been with this company a long time and shelled out heaps at $1.50 to excercise the rights issue based on the future I believed NOG had.
My finger is currently hovering over the sell button.

[geezy]

one word = sad. I want out but m currently down, do i cut massive losses?

[fish]

Another example of letting the shareholders wear the hard times.
Surely this is an opportunity for those on the big salaries to wear their share of the pain and take a cut too.
There was plenty of cash about when it came to propping up Pike in its days before receivership.
I have been with this company a long time and shelled out heaps at $1.50 to excercise the rights issue based on the future I believed NOG had.
My finger is currently hovering over the sell button.

I am sure a lot of us share your sentiments-I read the announcement at 16.50 today-looked at the sp , looked at the price of oil and reason prevailed over emotion and i didnt place the sell order `.Dont know about tomorrow though .
Took a big loan to buy the options and paying a 6 figure sum p.a on my margin lending account . Having to slog my guts out and skimp on everything . My patience is wearing thin . The financial year has got over 4 months to go and 8 months before a dividend has to be paid out . A lot can happen between now and then so why announce no dividend prematurely unless you want to hit the long suffering shareholders ?
Expect a further announcement about buying into Romania soon . There are a lot of old abandoned fields where a bit more oil and gas might be extracted at great depths using modern technology . The country has little capital and lots of refineries so may be possible to get a bargain-or be sold a lemon .

[Balance]

I am sure a lot of us share your sentiments-I read the announcement at 16.50 today-looked at the sp , looked at the price of oil and reason prevailed over emotion and i didnt place the sell order `.Dont know about tomorrow though .
Took a big loan to buy the options and paying a 6 figure sum p.a on my margin lending account . Having to slog my guts out and skimp on everything . My patience is wearing thin . The financial year has got over 4 months to go and 8 months before a dividend has to be paid out . A lot can happen between now and then so why announce no dividend prematurely unless you want to hit the long suffering shareholders ?
Expect a further announcement about buying into Romania soon . There are a lot of old abandoned fields where a bit more oil and gas might be extracted at great depths using modern technology . The country has little capital and lots of refineries so may be possible to get a bargain-or be sold a lemon .

Romania?

Allow me one question - what is NZO's competitive advantage in going to Romania?

[fish]

Romania?

Allow me one question - what is NZO's competitive advantage in going to Romania?

For once I must agree with you which is why i said they might be sold a lemon-attractive on the outside but bitter on the inside .
Clearly their competitive advantage is in NZ but I guess they are having problems getting partners such as awe to drill near field TUI .

[the machine]

one word = sad. I want out but m currently down, do i cut massive losses?

geezy, last year I sold 30,000 nzo to pick up the capital loss and then bought 40,000 for the ride.

M

[shasta]

Romania?

Allow me one question - what is NZO's competitive advantage in going to Romania?

Good question!

The only project NZO had any control over, went um ... well we all know what happened

Oil prices might be good, but Tui is in decline & Kupe is all about the gas & non oil products, although the results of Kupe were actually quite good.

So NZO who acquired a substantial amount of cash (@ $1.50) can no longer can afford a 5c dividend?

Might be a tough stretch this year for the board, as the annual snouts at the trough might be harder to push thru the cheap/free options again, with all those disgruntled shareholders who rightly assumed NZO could afford a much higher divdend!

Here's a wee exercise, go back 12 - 18 months on the thread & calculate the FX losses - then work out how much the Board/Mgmt have received over that time.

I'm pretty sure that cost of the options now have to be "expensed" in the financials (i stand to be corrected though), so how many "extra" shares have been added to the number issued (which would add to the cost of the dividend)

All these "highly paid" exec's didn't have the foresight to employ a treasury accountant that would cost ($80 - 100k pa) that should get someone capable enough.

Corporate Governance isnt just a policy you put on your website cos its a listing requirement, its what they board & CEO get well paid to do!

If i were a shareholder i'd be putting these questions to Mgmt & voting the inept & incompetent board out & asking for there shares to be cancelled.

[digger]

Romania?

Allow me one question - what is NZO's competitive advantage in going to Romania?

That is the right question. The answer please anyone.

[gazprom1]

That is the right question. The answer please anyone.

No answers Digger just more questions. I used to be a big fan of NZO and held a large holding. Not sure what made me sell a couple of years back but maybe it was the opportunities presented by junior Australian oilers. IMHO they should stick to their knitting and focus on their NZ permits and maximise S/holder value by cutting costs and running and lean and mean company. Agree with Shasta about employing someone qualified to manage their fx.

We live on promises from NZO management and they have demonstrated a clear inability to add shareholder value. If I was still holding, I would cut my losses and re-invest in australian oilers/ miners. Do your research and find a company that fits your risk/ reward profile.

Wish holders all the best and hope that Romania somehow, through luck probably rather than good management, turns out to be a home run.

Gazprom