NZ Oil & Gas (NZO)

[brucey09]

Snr. Surf
Well said!!

[swissboy]

All the other variables are out of their hands as every project and investment is out of NZO's personal control

[fabs]

It is truly amazing how long it takes for some s/h to wake up and realize what has been so obvious to some s/h and would be s/h, what a bunch of hopeless managers they are constantly lauding and backing.
The NZ S/Market at least with this co. is wide awake whats wrong here and rightly give it a wide berth.
Lets forget about NZO for the next 3-4 years, it will either fade away, be T/o, mercifully cash up, or dare I hope against hope, attract some competent talent to realize its potential and turn it around.

[Chris Roberts]

dsurf, Happy New Year.
I regularly pass on to the CEO and the Board various shareholder views on dividend policy. Those views cover the spectrum - at one end suggestions like yours for quarterly dividends, and at the other, shareholders who do not want us paying any dividends at all. Their view is that all earnings should be retained for re-investing in growth opportunities. This is standard practice in our sector. There are over 70 small to mid-cap E&P companies in Australia and NZ - only 3 regularly pay dividends, NZOG being one of those.
With regard to quarterly dividends, the administration cost would be high. And at 5% of gross Kupe profit, a quarterly dividend would be less than half a cent. An annual dividend is much more efficient.
In terms of market sentiment, institutions continue to increase their shareholding in NZOG. Our institutional holdings have never been higher. The sellers are predominently retail investors.
I hope this is helpful - I repeat as always that any shareholder can email us directly through our website if they have a query.

[dsurf]

Thanks for your response Chris.

[digger]

dsurf, Happy New Year.
I regularly pass on to the CEO and the Board various shareholder views on dividend policy. Those views cover the spectrum - at one end suggestions like yours for quarterly dividends, and at the other, shareholders who do not want us paying any dividends at all. Their view is that all earnings should be retained for re-investing in growth opportunities. This is standard practice in our sector. There are over 70 small to mid-cap E&P companies in Australia and NZ - only 3 regularly pay dividends, NZOG being one of those.
With regard to quarterly dividends, the administration cost would be high. And at 5% of gross Kupe profit, a quarterly dividend would be less than half a cent. An annual dividend is much more efficient.
In terms of market sentiment, institutions continue to increase their shareholding in NZOG. Our institutional holdings have never been higher. The sellers are predominently retail investors.
I hope this is helpful - I repeat as always that any shareholder can email us directly through our website if they have a query.

I think anyone hopimg for a quartely dividend should seek out bank deposits that can be arranged to do such a thing.An annual dividend is enough for me. More is too expensive and has the look of desperation.

[J R Ewing]

I can't see how changing the dividend policy will fix the share price. That's just slicing up the pie in a slightly different way. We need some growth.

[dsurf]

It is about emphasising the cashflow generating that is going on. I think it would change the market's perception of NZO and provide some good news. It would say "NZO makes money every quarter!

[dsurf]

I can't see how changing the dividend policy will fix the share price. That's just slicing up the pie in a slightly different way. We need some growth.

Bad sentiment = company trading below NTA or "undervalued"

Good sentiment = par value or better.

[Corporate]

I wonder if this is the deal NZO were also looking at?

http://www.asx.com.au/asxpdf/2012012...gtljgdtm8w.pdf

Maybe with their close relationship with AWE they might be the partners AWE is looking for.