NZ Oil & Gas (NZO)

[digger]

nice post digger, but IMHO this sentence..

""The market seems to be valueing NZO as if these mostly capital losses will keep reoccuring""

could be taken simply as...

if we invest in NZO what with their track record, whats in it for a shareholder?
when they make money...... not much is coming back to SHers
when things go wrong.... nothing comes back to SHers

in the meantime the staff, management and board are doing rather if not very very well.

i hate losing money...... thats human, and it happens to all investors.
but in the case of NZO things are starting to look like pigs in troughs.

and that is what seems to be valuing the sp.

something is re occurring..... and its not the capital losses.

Yes ,I do agree that more was lost than just capital.As you put it the market sees a clear loss of confidence and a gut wrenching feeling that in hard times all do not suffer equally. This is not strictly true as TR's loss would be the greatest of all of us and DS resigned most likely as a result of PIKE. Note here at the Monday meeting a question from the floor was did DS resign because of PIKE and the chairman Peter Griffiths said that DS gave personal reasons but his belief was that it was most likely related to the PIKE tragedy.

At that point of the meeting I piped up with my four thoughts on DS which were clearly out of order and I knew it but it made me feel better.Remember we were only there to discuss the remit to issue 3 million options to the CEO. Lets face it we humans are not just logical thinkers but feeling individuals as well.Look at the market value of NZO.It is not just made up of logical reasoning but feelings around the management abilities comes into it .The market has spoken.

So yes we certainly did lose more than just 99 million and 22 million in secured loans.The big question is how do we turn this thing around. Well IMHO a good first step has been taken with a new CEO,now the board needs directors coming with a more diverse and committed background.

[the machine]

perhaps a statement from the board to the effect that a substantial part of this years operating profit will be paid as a full year dividend, even if that means any 2012/2013 capital management "buyback" plans are put on ice.

if the market can expect a decent dividend then that might be the icebreaker.

i only own 20,000 shares so certainly not chasing a dividend - i just want sp be be out of this rut, without relying on the drillbit

M

[Tyro]

Why your preference for a taxable dividend over a non taxable gain in NTA from a buyback?

perhaps a statement from the board to the effect that a substantial part of this years operating profit will be paid as a full year dividend, even if that means any 2012/2013 capital management "buyback" plans are put on ice.

if the market can expect a decent dividend then that might be the icebreaker.

i only own 20,000 shares so certainly not chasing a dividend - i just want sp be be out of this rut, without relying on the drillbit

M

[iceman]

Why your preference for a taxable dividend over a non taxable gain in NTA from a buyback?

The buyback is not very successful in lifting the shareprice, particularly when the shares are then just handed over cheaply to staff !

[neopoleII]

the buyback is very successful....
it has stopped the sp slipping further and risking a takeover.... which could be funded by the cash sitting in the bank and the income from kupe.

very dangerous situation at present.

but your board is spending your money buyinig and technicly burning the stock certificates...... only to issue news ones to themselves.

they are spending some 20 odd million to prop up their jobs from a takeover

think about it.

its your company.

[arjay]

Has the market got it right and the shares are only worth 74 cents? NOG has 35 cents in net cash per share in the bank.

I think the market is (rightly) concerned that NZO will spend the 35c/share on magic beans.

[fabs]

End of Feb.
and still no word by the receivers in regards to sale of Pike assets.
Just another case of making hay while the sun shines, by the receivers that is.

[digger]

End of Feb.
and still no word by the receivers in regards to sale of Pike assets.
Just another case of making hay while the sun shines, by the receivers that is.

fabs,give up on the hope of selling PIKE. NZO has written off the last 22 million of secured loans and i would say is leaving it at that. Maybe somewhere some time something might happen but with the govt and laywers involved in body recovery ,hell has the better chance of freezing over sooner first. After the meeting in Wellington AK did say in reply that the further funding of the receiver would only be in the thousands and not millions. Forget it move on.

[fabs]

DIGGER,
I have sold out my PRC/s years ago and said on this forum there was no hope for s/h in it to expect anything back 14 months ago.
So in that regard have moved on long ago.
However i am not sure where you get the write -off regards the 2o odd millions of secured funds, which by the way i understood it NZO have written off in there books for tax purposes, but on completion of the sale will get reimbursed.
Assuming the sale after expenses has anything left over.

So i hope for closure of this tragic event, at least concerning the financial issues and also with a bit of luck a boost to NZOs War-chest, it is in regard to those two aspects that i posted above comment.
So all the best to NZOs S/H.

[arjay]

What's the bet Barque gets relinquished due to lack of progress?

http://www.stuff.co.nz/business/indu...t-to-intensify