NZ Oil & Gas (NZO)

[blockhead]

He should take the bait any time soon I predict

[Corporate]

I've got some recently too Corp.
I saw that in the chairman's address they were looking to increase tui/kupe stakes.
Radford also mentioned resuming dividends to prior levels....does this mean 5 cps?
Remember, NZOG have a few tax losses now don't they so cashflows should be strong over the next couple of years...

He mentioned that Kupe alone is worth more than the market cap, but that alone doesn't mean much given the G&A they have! haha

Good stuff UU. Key points from todays annoucements for me are:

• Net cash of $95m as at 30 September
• Unsecured creditors expected to receive full payments on sale of the mine. NZO are currently owed $38m.
• Receivers are at an advanced stage of negotiations with potential buyers
• Farm-out discussions are ongoing with several interested companies (Kakapo - 200mmbl prospect)
• Potential to increase ownership of Tui and/or Kupe
• Dividends to resume at previous levels (5cps is currently 11% gross!)
• The value of Kupe exceeds current market capitalisation.

Sorry I've doubled up on a couple of your points.

[blockhead]

Don't you just love it !!

Today’s Gainers
Code Last Move
NZO 0.700 ▲+7.69%
OIC 1.900 ▲+1.60%
NPX 2.690 ▲+1.13%
FBU 6.510 ▲+0.93%

[Corporate]

Don't you just love it !!

Today’s Gainers
Code Last Move
NZO 0.700 ▲+7.69%
OIC 1.900 ▲+1.60%
NPX 2.690 ▲+1.13%
FBU 6.510 ▲+0.93%

Can't compliance BH. I bought yesterday at 63c.

[blockhead]

Wish I could say that, most of mine owe me something a fair bit north of $1, however contrary to (un)balanced's advice I am sticking with them.

[fabs]

NZOG will have no further involvement in PRCs mine after its sale!
Does this suggest NZO is not in the bidding process for the mine?
If so finally perhaps, an admission and acceptance that the board and there advisers never had any demonstrable expertize in West coast coal mining.
Maybe a lethal speculative and expensive gamble, or worse still driven by self interest of cross holding interests by certain individuals.
Also it seems we need to appoint another Carpetbagger on a $600000 Salary, can the present staff of 22 not handle the [ HARD WORK ] to bring the now projected 18 to 24 months future and in place projects to fruition?

[Balance]

Don't you just love it !!

Today’s Gainers
Code Last Move
NZO 0.700 ▲+7.69%
OIC 1.900 ▲+1.60%
NPX 2.690 ▲+1.13%
FBU 6.510 ▲+0.93%

Go back a year and it's :

NZO 0.700 Down 46%
OIC 1.900 Up 5.5%
NPX 2.69 Down 21%
FBU 6.61 Down 18%

Option exercise raising $180m at $1.50 a piece = Down 54% or $98m.

Give them some crumbs and they come begging for more punishment!

No wonder NZO directors and management treat shareholders with the contempt they deserve!

[Ian]

or does it mean the price is going to be high enough that they are prepared to accept it

NZOG will have no further involvement in PRCs mine after its sale!
Does this suggest NZO is not in the bidding process for the mine?
If so finally perhaps, an admission and acceptance that the board and there advisers never had any demonstrable expertize in West coast coal mining.
Maybe a lethal speculative and expensive gamble, or worse still driven by self interest of cross holding interests by certain individuals.
Also it seems we need to appoint another Carpetbagger on a $600000 Salary, can the present staff of 22 not handle the [ HARD WORK ] to bring the now projected 18 to 24 months future and in place projects to fruition?

[Balance]

Wish I could say that, most of mine owe me something a fair bit north of $1, however contrary to (un)balanced's advice I am sticking with them.

Long term predication is Pike will fail. They won't be able to get the amount of coal out of the mine they have said they will. When Pike fails nzog will lose a whole bunch of money and their share price will drop to 70c. My predication and I'm sure many of you will disagree, but this is a realistic assessment

Notie made this prediction a year ago. Could have saved yourselves a lot of money, aggro and grief by opening the other eye and listen carefully and objectively to those (like Notie) who have been deadly accurate with their assessments of NZO and PRC.

[blockhead]

Yes that was a very perceptive post made by Notie, I didn't believe it would happen at the time but after taking a fair old bath on NZO it is now time to look forward and see what the next 12 months brings