NZ Oil & Gas (NZO)

[Balance]

sh..tt can't take a trick at all these days, lme was a fizzer last week and now a downgrade here, oil and coal are not going to see me into that Porsche I had in mind after all !

Great stuff by NZX and NZO!

Announcement made by AWE on ASX at 10.40 am.

NZO and PP made same announcement on NZX at 11.13 am - half an hour later.

Trading resumes at 11.23 am.

Mushrooms, anyone?

[Mr Tommy]

Someone has been targetting NZOG shareholders with less than 2000 shares, offering 73c cash for them with no brokerage. My kids got the letter on the weekend. Wonder if they should take it now - I bet he has pulled the offer though.

[Balance]

Would be suspecting the same umop, (un) balanced would always see a disaster or a conspiracy theory

Oh dear - looks like they have been over-estimating reserves in the past? More downgrades to come for sure?

And NZO and PPP shareholders get to know it half an hour later than on ASX with AWE.

[Silverlight]

And NZO and PPP shareholders get to know it half an hour later than on ASX with AWE.

Like it matters, all shares were in a halt from the open, couldn't trade it anyway.

[fabs]

NZOG Management may did know, or
had an inkling quite some time ago, when it stopped underpinning S/P with on-market buy back
Does that mean, them having not resumed now at these price levels, that there is more negative info. in the pipe line?
The co. is not that far away from being cheap.
Take-over at 30-40 cents anyone?

[Master98]

Gross income from tui field will reduce 33usc per share (1.3*100/393), am I correct?

[Sideshow Bob]

I always thought the reserves were proven reserves, based on conservative figures?

Maybe it leaked away somewhere........

[Lizard]

Maybe it leaked away somewhere........

Yep, very deep 5.2 earthquake nearby last night - probably opened up a wormhole

[dsurf]

Would you swap a cash payment in the next few months of 31c per share and a capital return of 20c a year for two years followed by 15c for the next 8 or more years? at least Does anyone else think that this company should no longer managed at all? I believe the best option is for a proposal be put to the AGM that all exploration activities be stopped as the management are useless and the CEO doesn't even want to remain. The company should change structure and become an income paying trust IMO. The revenue from TUI & Kupe could be distributed quartery as distributions. NZO has no management input since they are not the operator. Really all they need is an accountant and a trustee. All the management & staff should be made redundant. This would immediately create value for all shareholders as the cash drain would stop. Net cash should be immediately returned to shareholders. The buyback stopped. PPP investment sold & cash returned. I am not that keen on a departing CEO pocketing an extra 250K either. When PRC is sold the cash should be returned. The table below shows what the cashreturn would be and allows no upside for PRC sale.

Cash equivalents $mill c per share
net cash 31 Dec 49.8
PPP 87.5million shares @ 12c NZ 10.5
immediate payment 60.3 15.38


PRC sale
PRC US 28mill convertible bond @ FX US/NZ .85 33.52
PRC secured funding advanced 12
PRCun- secured funding advanced 13 14.93

Quarterly Cashflow
Net operating Cashflow for Quarter to March 31 17.6
Add back exploration & evaluation expense 1.3
Add back administration of 2mill from 2.2 total 2
Add back net interest paid 0 .5
21.4 5.46

[KentBrockman]

Would you swap a cash payment in the next few months of 31c per share and a capital return of 20c a year for two years followed by 15c for the next 8 or more years? at least Does anyone else think that this company should no longer managed at all? I believe the best option is for a proposal be put to the AGM that all exploration activities be stopped as the management are useless and the CEO doesn't even want to remain. The company should change structure and become an income paying trust IMO. The revenue from TUI & Kupe could be distributed quartery as distributions. NZO has no management input since they are not the operator. Really all they need is an accountant and a trustee. All the management & staff should be made redundant. This would immediately create value for all shareholders as the cash drain would stop. Net cash should be immediately returned to shareholders. The buyback stopped. PPP investment sold & cash returned. I am not that keen on a departing CEO pocketing an extra 250K either. When PRC is sold the cash should be returned. The table below shows what the cashreturn would be and allows no upside for PRC sale.

Cash equivalents $mill c per share
net cash 31 Dec 49.8
PPP 87.5million shares @ 12c NZ 10.5
immediate payment 60.3 15.38


PRC sale
PRC US 28mill convertible bond @ FX US/NZ .85 33.52
PRC secured funding advanced 12
PRCun- secured funding advanced 13 14.93

Quarterly Cashflow
Net operating Cashflow for Quarter to March 31 17.6
Add back exploration & evaluation expense 1.3
Add back administration of 2mill from 2.2 total 2
Add back net interest paid 0 .5
21.4 5.46

lol. Management are on too good a deal to ever let this happen