NZ Oil & Gas (NZO)

[Corporate]

Should CR be paid $250k pa then that would be money well spent.

m

You're taking the mickey right?

[fabs]

BALANCE
RE/S leaving is no good!
Have you been contaminated by us Mushrooms by being on this forum to long, that would be a shame.
D/Ss dislike for P/W being chosen by the board, hearsay at best, but even if true, he sat on a board which seems to have made so many blunders in the 4 years since he came on board and done nothing till now and wait for it still hangs in there, then on any level his not worth a tin of fish.

[digger]

BALANCE
RE/S leaving is no good!
Have you been contaminated by us Mushrooms by being on this forum to long, that would be a shame.
D/Ss dislike for P/W being chosen by the board, hearsay at best, but even if true, he sat on a board which seems to have made so many blunders in the 4 years since he came on board and done nothing till now and wait for it still hangs in there, then on any level his not worth a tin of fish.

What this board needs is a large long term shareholder that come what may is in this company for a return on equity.It is called stability. At the present it has too many directors that are professionals that themselves have put nothing into the company,are jonny come lately and will leave at the first sign of trouble.
If practical intelligence could be brought to the for right now any thought of a share buy back should be scrapped for all time . Fair enought it was tried but found wanting. It rewards too much those who are leaving and only minial to the staying as those share are cancelled.The board if it could find practical intelligence would announce a dividend this year.It has the money and for sure it is a far better investment than a branch office. In fact i find it very easy to say that with the monies coming in from KUPE a yearly dividend of a fixed % of that revenue should first and foremost be set aside as dividends.If we just leave it in their hands unquestioned it is all to easy to be waisted on office attachments and other staff perks. In fact the idea of no intention to pay a dividend this year is a reflection of a over dominated board that have themselves put very very little into NZO[apart fron TR] and now are running the finances to maintain perks for staff.This attitude is also a large part of the faling SP. Why bother when the staff are getting the rewards and shareholders are pushed aside.
We need to examine why we have the directors we have and how best to make up the board.It is over dominated by professionals that in reality would better be employed by the company if required. A dividend is required to show the market that a large gap exist between the SP and its value. But then if the board is just going to waist its still considerable income then i guess its value is correct now if not in fact too high.

[sideline]

............ A dividend is required to show the market that a large gap exist between the SP and its value. But then if the board is just going to waist its still considerable income then i guess its value is correct now if not in fact too high.

Entirely agree that the cashflow-positive operations like Kupe and Tui should pay a dividend to
shareholders. A certain portion of their net-revenue should be set aside for this!

[fabs]

Well said Digger more or less my sentiments too, they promised long ago a fair return to S/Hs from profits.
Lets see how arrogant, selfish and contemptuous they will continue to act.

[fabs]

CHRIS ROBERTS
Re Salaries:
Kaspar Villiger top boy of UBS
Has a degree of mechanical engineering NOT BANKING
In charge of 2nd biggest investment bank in the world
64000 staff in 50 countries
Salary including bonus for 2010 777000.00 NZD
UBS Profit for 2010 10.3 BILLION
So paste that in your hat.

[Chris Roberts]

CHRIS ROBERTS
Re Salaries:
Kaspar Villiger top boy of UBS
Has a degree of mechanical engineering NOT BANKING
In charge of 2nd biggest investment bank in the world
64000 staff in 50 countries
Salary including bonus for 2010 777000.00 NZD
UBS Profit for 2010 10.3 BILLION
So paste that in your hat.

I can google too Franz.
Villiger is Chairman of UBS and his total remuneration in 2010 was CHF 1,491,308.
The CEO is Oswald Grubel and he received a salary of CHF 3 million.
UBS allocation to staff bonuses in 2010 was CHF 4.2 billion - 42% of the profit to staff.
Little point in comparing UBS with NZOG.

A detailed webcast briefing is now available at www.nzog.com/webcasts for anyone who wants a comprehensive overview of NZOG.

[Ayrton]

Anybody else receive the off market offer from 'Zero Commission NZ Ltd' ? Managing director is Roy Jackson. Offering me 76c per share. The letter was printed on 20th July, when NZO was trading at 84c. The offer is open till the 15th of August.

Basically trying to convince me that by selling at a discount to the market price to them I can sell without incurring fees or commission, but now NZO is trading below their offer.. Could work to my benefit.

[fabs]

Yes Chris
I was only comparing Salaries, the rest of his earnings is a complex issue and you are right can not be compared with with Nzog, speaking of which you forgotten to mention that he and MR. GRUBEL both took far less in UBSs previous bad year. So like the board of NZO can make unfortunate decisions but unlike our board, get punished for non performance.

[notie]

If you read the company's quarterly activity report you would think everything is fine and there are no problems. http://nzog.com/f283,165961/165961_N...ne_2011_QR.pdf

For all that money they raised and then the flush Tui production nzog has managed to do bugger all. So all you have got for your money is a prospecting permit in Tunisia with no right to drill a well and a study group in onshore Indonesia. wow, really going places.

This company blew a shed load of cash bailing out Pike River and didn't bother to invest in anything else. Now that Tui has had a reserves downgrade investors now realize they have been sold a pup. Remember AWE the operator of Tui has done an in-house reserve downgrade. Expect the independent reserve study to be carried out to further reduce the field size.

Expect nzog to pull out of Barque in offshore Canterbury and Kaupokonui to be dropped before any wells are drilled.