NZ Oil & Gas (NZO)

[dsurf]

$1,50 should be the strike price given the $ raised via the last option round

[Awamoa]

$1,50 should be the strike price given the $ raised via the last option round

I agree.
Why cant the Board use this logic?

[arjay]

It's also a bit on the nose the comment Chris made that if Andrew can't get his full package with shareholder approval he can go back to the board and get it topped up without shareholders having a say. Rewards have to come from performance, not because of what people in other companies get.

[fabs]

Hey, They buy them back just about every day, for around 70 cents so they can be generous to give them away to fellow hogs and get well payed in the process.
This management bunch seemingly abounds with creative and brilliant talent.
I for one would appreciate a leaner and more productive lot of company builders than that.

[Chris Roberts]

Hey, They buy them back just about every day, for around 70 cents so they can be generous to give them away to fellow hogs and get well payed in the process.
This management bunch seemingly abounds with creative and brilliant talent.
I for one would appreciate a leaner and more productive lot of company builders than that.

Franz, what you have actually pointed out is that NZOG is buying shares through the share buyback at around 70 cents, and is proposing, subject to shareholder approval, to issue some for $1.00 a share to the CEO. The two actions, while quite separate, are both in the best interests of shareholders.

[digger]

Franz, what you have actually pointed out is that NZOG is buying shares through the share buyback at around 70 cents, and is proposing, subject to shareholder approval, to issue some for $1.00 a share to the CEO. The two actions, while quite separate, are both in the best interests of shareholders.

Chris Roberts what seems to be missing here is that it sort of reads like 3 million shares are being issued to the CEO when in fact what is being voted on is a 3 million option. I strongly feel that the 3 million option to the CEO should be included but as part of a general option to be issued prorata to all shareholders.Those that have been with NZO for a very long time know that options can have a very mixed final outcome and certainly there were times when holders wished they had never seen them.Some were successful for a while until the mine blew up and the cost of conversion was down the drain. Just thought i would bring this up because it is a 3 million option we are voting on.
Anyways it may be time for a general option to be issued and again it is ashamed it was not done so as part of the CEO deal.Just sounds better and gets the thinking back on track that it is an option.

[digger]

Forget to say that if anyone now wanted to spend 3 million buying shares in NZO they would end up holding more shares than Andrew would if and when he converts these options.In fact they would own 4.225 million.
Nevertheless i favor a smaller wage package with a tie back to company shares.

[fabs]

Yes Chris, i agree the former in a minute way may benefit all, have rely not any problem there.
The issue of the later, well only time will tell.
Going by incentives & salaries handed out in recent years have in my view and it maybe only mine alone, not resulted in much so far.
Given that the present income producing projects had been due to the Team efforts predating the last 5 years crop of well enumerated additions.
Considering both Kupe & Tui are not operated by NZO Management seems to be top-heavy.

[neopoleII]

i would surmise or guess that the ceo doesnt have 3 mill cash to exercise his options if the share price gets up to $1+ in 5 years time, but i could premise that if the options are in the money he will get a bank draft to buy them and then sell them to get his profit. because the divi flow wouldnt pay the interest on a 3 mill loan.

so.... his job is to get the sp over say $1.20 for his banker to approve a loan so he can cash in.
his profit will rely on him selling his 3 mill of shares and not making the shareholders question why he is selling.
(or the ceo has millions in the bank and he wants to help the shareholders as well as himself)

if NZO is strong and making money for shareholders in 5 years times ........ all is well.
if not...... then he will probably walk and leave us shareholders in sub $1.50 option limbo.

some might say that stock options for ceos is positive, personally i dont think so.

i would prefer the ceo and rest of staff get bonus payments for lifting the wealth of the company and shareholders..... that way we all win, and the ceo earns his respect.

ie HIS choice of the next drill or investment strikes 100mbbls oil and he receives a 5 mill bonus year on year till the well is dry....... as long as the shareholders get a healthy divi too.

[bermuda]

All these renumeration packages amuse me. They try and convince me that people do better if given bonuses. For example imagine if you were the CEO of NZO. Do you think you would work harder if you were on a bonus scheme? Would you wake and say wow, I am on a bonus scheme and I have to work harder .And if you answer yes you shouldn't be in the job.

I think all of us agree that everyone should turn up and do their best every day. Give a few awards away okay but please spare me these bonuses and option gravytrain packages. You either want the job or not.

NZO has been treated a bit harshly lately. Room for upside.