NZ Oil & Gas (NZO)

[POSSUM THE CAT]

Balance the directors of NZO have no choice they have to make an offer to the receiver that they will beat any other offer or forget about it. They cannot stop the Receivers selling it any other way. The receivers make the decision not a shareholder like NZO. Instead they are telling their shareholders that they are honestly not expecting to get any money back from the sale of PRC. Any statement to the contrary could make them liable to damages. You bought a Dog admit it & get on with life.

[digger]

There is one thing that stands out in this discussion about NZO buying PIKE that all of you have failed to comment on. After placing PIKE into receivership the govt has stated it will not reissue the mining licence to NZO. So from that moment what is the point in believing that NZO can do anything about PIKE ownership??? What use is PIKE without the mining licence?

[Onthemoney]

NOG has more say than what you think it was them as secured creditor that appointed the receiver. Power is in their hands.....

[Xerof]

The only 'power' they had was to appoint a Receiver of their choice. Bear in mind BNZ was also a secured creditor and could have beaten them to it. Not that it really mattered in the end.

And digger I think you are right re mining license

[Onthemoney]

The only 'power' they had was to appoint a Receiver of their choice. Bear in mind BNZ was also a secured creditor and could have beaten them to it. Not that it really mattered in the end.

It matters as the receiver is working for the secured creditor.

[Balance]

Balance the directors of NZO have no choice they have to make an offer to the receiver that they will beat any other offer or forget about it. They cannot stop the Receivers selling it any other way. The receivers make the decision not a shareholder like NZO. Instead they are telling their shareholders that they are honestly not expecting to get any money back from the sale of PRC. Any statement to the contrary could make them liable to damages. You bought a Dog admit it & get on with life.

#1 - I did not buy into this dog, but share your sentiment about the dog!

#2 - NZO appointed the receiver and as the only secured creditor left in Pike, can terminate the receivership. So they do not have to beat anyone to 'buy' the asset!

#3 - The word 'honestly' does not equate to NZO directors.

#4 - What damages are they liable for? The market has already effectively written Pike off already!

#5 - Question remains - why the unseemly haste to get rid of Pike?

#6 - 29 dead miners. They will continue to haunt this bunch of incompetent, unprofessional and cowardly directors for a while yet - Pike sold or not.

[the machine]

There is one thing that stands out in this discussion about NZO buying PIKE that all of you have failed to comment on. After placing PIKE into receivership the govt has stated it will not reissue the mining licence to NZO. So from that moment what is the point in believing that NZO can do anything about PIKE ownership??? What use is PIKE without the mining licence?

digger, why would it have to be reissued - could it not stay in the name of PRC?

M

[iceman]

NOG has more say than what you think it was them as secured creditor that appointed the receiver. Power is in their hands.....

My poiint exactly !

[iceman]

#1 - I did not buy into this dog, but share your sentiment about the dog!

#2 - NZO appointed the receiver and as the only secured creditor left in Pike, can terminate the receivership. So they do not have to beat anyone to 'buy' the asset!

#3 - The word 'honestly' does not equate to NZO directors.

#4 - What damages are they liable for? The market has already effectively written Pike off already!

#5 - Question remains - why the unseemly haste to get rid of Pike?

#6 - 29 dead miners. They will continue to haunt this bunch of incompetent, unprofessional and cowardly directors for a while yet - Pike sold or not.

Balance I agree with all your 6 points. Spot on !

[brucey09]

Snrs. Balance , Machine and Iceman. Correcto - why cant some person live in Australia telephone the top man Radford please.