NZ Oil & Gas (NZO)

[Balance]

Yes. That is the beauty of the market.One winner,and you are well ahead.
Look forward to more foresight,rather than hindsight from you.

Got to be a big winner, of course.

Not easy to pick those.

[digger]

Got to be a big winner, of course.

Not easy to pick those.

Given its current SP nog stands at the cross road of becoming a big winner or continue on as a loser.The cause of this is the problem of our director makeup.In the last few years we have added directors who have hunderds of years of professional experience in there academic fields who are so confidence in NZO and their own abilities that they have only been prepared to put pennies of their own money into this company,at the same time they will take all the free issues we keep giving them.
The reason I say NZO stands at the cross roads is that currently NZO shareprice does not come even close to its break up value.DS recent presentation of the quartly shows together with the last six months that NZO gross income is just more than 133 million. A annual adminstration cost of 12.7 million hids a lot of direcrtor perks and a nil dividend for shareholders shows where the problem is. You might ask,and you certainly shold be asking,why has the Diodore prospect in Tunisia never received any positive uplift from the market.Why does the market not focus on it? The reason IMHO is simple.Why would any income from the Diodore block ever get back to the shareholders when we have waited some 30 years for the income from KUPE which is prime right now and we are told it will be 'no intension to pay a dividend'.Same with Diodore.
The director makeup is now so heavily overweighted with 200 some odds years of professional experiences that it is polluted.It lacks practical knowledge to understand the damage a nil dividend has done and will do to the company.
Again you might ask and you should ask is the PIKE blowup and the TUI downgrade the sole problem.With a 133 million gross income if it were shared would more than push aside these negative hits.So this is where i see NZO at the cross roads.We have had to very unfortunate events against us but the third big hit of nil shareing of the income is the greatest .The damage it does is tell the market there is not positive in the future to home in on.

[the machine]

good post Digger.

If no dividend then commit to drilling Kaupokonui and retain 90% interest.

Its our money and I for one like to see the drill bit do the talking.

M

[Awamoa]

Yes. That is the beauty of the market.One winner,and you are well ahead.
Look forward to more foresight,rather than hindsight from you.

Reminds me of a chap I used to work with who punted the horses.He was very vocal about his wins and never mentioned the losses.Funny thing was he didnt own a car,house or anything of any substance.
My conclusion was that there must have been a few losses.
I am yet to meet a stockmarket investor who hasnt experienced any losses however Balance may be an exception.

[digger]

good post Digger.

If no dividend then commit to drilling Kaupokonui and retain 90% interest.

Its our money and I for one like to see the drill bit do the talking.

M

Hi the machine,

Mate i think you have missed my fundamental point.Why bother drilling Kaupokonui? If kupe after 40 years and fully developed and at its peak with gross income of 133million can not in itself generate a dividend ,then why will Kaupokonui be and better? Or Diodore or any well you care to name. This is what i think the market is saying.The 100% professional acedamic loaded board has priortized expenses so that their perks,overseas branch offices,etc,etc all come before the shareholders.The shareholders will get something if the board can not think of any other way of spending it.

[RRR]

What happened to the share buy back plan? Why dont they do it when the share price is much lower? They haven't communicated the reason why NZO stopped buying back shares. NZO got the award for the best communicator not so long ago!

[brucey09]

Snrs.
no more drilling, 1 or 2 employes, no pr - just get the income, kupe and tui and pay all as divs so we get returns - yes.

[the machine]

What happened to the share buy back plan? Why dont they do it when the share price is much lower? They haven't communicated the reason why NZO stopped buying back shares. NZO got the award for the best communicator not so long ago!

RRR, the share buy back plan was only valid until June 30 2011.

It would require another resolution from the board to have another share buy back plan but I would be surprsied if the board did that - PRC distaster and then TUI downgrade.

M

[Balance]

Reminds me of a chap I used to work with who punted the horses.He was very vocal about his wins and never mentioned the losses.Funny thing was he didnt own a car,house or anything of any substance.
My conclusion was that there must have been a few losses.
I am yet to meet a stockmarket investor who hasnt experienced any losses however Balance may be an exception.

LOL - wish I was an exception!

Just because I had NZO so right (and copped heaps of abuse along the way for daring to take on the one-eyed believers) does not mean I am right in everything.

Just because some of you are so blinkered stubborn wrong in NZO does not mean that you get aggro against those who tried to warn you about the perils of putting your hard-earned money with a bunch of incompetent, self-serving, manipulative, self-glorified and ultimately, arrogant Board and management.

NZOG has some great assets - that's undeniable. It needs good management to extract the best out of those assets and take care of shareholders. Do you think that's the sort of management what you have?

[Corporate]

Digger, you are spot on with your point. I don't understand why management stopped paying a dividend either!