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30-04-2012, 01:24 PM
#11391
Originally Posted by Balance
I recall reading a similar posting with you when the sp was over $1.50?
Think it will work out better this time?
Balance,
I got out years ago at about $1.25 after riding it up from 26 cents. Took my dosh to Australia and rode the CSG trail. Now I am into Aussie shale and American salt domes.
As I said I have only got a few but I do think that NZO is in an uptrend. They have about 180 million cash on hand. That's not a bad effort for a company with only 390 odd million shares on issue. I wish Phaedrus was around to give us a comment. I reckon he would like the way the chart is heading.
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30-04-2012, 08:47 PM
#11392
Originally Posted by bermuda
Balance,
I got out years ago at about $1.25 after riding it up from 26 cents. Took my dosh to Australia and rode the CSG trail. Now I am into Aussie shale and American salt domes.
As I said I have only got a few but I do think that NZO is in an uptrend. They have about 180 million cash on hand. That's not a bad effort for a company with only 390 odd million shares on issue. I wish Phaedrus was around to give us a comment. I reckon he would like the way the chart is heading.
hi bermuda,
Yes things are starting to look a bit better.There is 137 million cash in the bank the same as last quarter but have paid off 5.2 million in loans with a total of just under 50 million to pay off over the next few years.So for now they have approx 187 million available for investment.
During this quarter we spent a lot on getting ready for exploration,buybacks,foreign exchange losses,royalities and administration.The income side looked good with selling the oil averaging 122 US and it should stay that way for the next quarter at least.
I see from PPP that TUI has now done 32 million so only 9 million left if it is to run out at 41 million.
At the moment PPP is the better deal as it has 16 cents AUS in cash,no debt and its Aus SP is 15.5. Is there many other companies that are that much of a give away.
At the end of this quarter what has not yet happened that is still holding NZO back is a final on PIKE. Tomorror is May so is it not targeted in May that the sell to SE will be released.
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01-05-2012, 09:34 AM
#11393
Member
Could NZOG be growing some gonads? What say you Balance?
New Zealand Oil & Gas could end up with a "significantly larger stake" in offshore Taranaki prospect Kaheru than the initially proposed 15 per cent, the company said yesterday.
http://www.stuff.co.nz/business/indu...take-in-Kaheru
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10-05-2012, 01:49 PM
#11394
Why no trading halt...?
From NZ Herald This morning..:
Solid Energy says it will announce an update on its proposed acquisition of the Pike River Coal assets today after a meeting in Greymouth with the families of the 29 men who died in the mining tragedy.
The announcement in March that the state-owned company was buying the mine was welcomed by the West Coast community as a "giant step" towards retrieving the bodies of the miners, trapped underground since the explosion in November 2010.
So, a deal has presumably been done and details will be released today... Yet, NZO trades on and is up a couple of cents on high volume... Can someone explain to me why NZO is not in a trading halt pending release of this update, which is likely to be material ....?
I can only assume that, as usual, it's the big players looking after each other's interest...
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10-05-2012, 02:45 PM
#11395
Originally Posted by BigBob
From NZ Herald This morning..:
Solid Energy says it will announce an update on its proposed acquisition of the Pike River Coal assets today after a meeting in Greymouth with the families of the 29 men who died in the mining tragedy.
The announcement in March that the state-owned company was buying the mine was welcomed by the West Coast community as a "giant step" towards retrieving the bodies of the miners, trapped underground since the explosion in November 2010.
So, a deal has presumably been done and details will be released today... Yet, NZO trades on and is up a couple of cents on high volume... Can someone explain to me why NZO is not in a trading halt pending release of this update, which is likely to be material ....?
I can only assume that, as usual, it's the big players looking after each other's interest...
A written complaint to the NZX may be in order?
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10-05-2012, 02:52 PM
#11396
Originally Posted by BigBob
From NZ Herald This morning..:
Solid Energy says it will announce an update on its proposed acquisition of the Pike River Coal assets today after a meeting in Greymouth with the families of the 29 men who died in the mining tragedy.
The announcement in March that the state-owned company was buying the mine was welcomed by the West Coast community as a "giant step" towards retrieving the bodies of the miners, trapped underground since the explosion in November 2010.
So, a deal has presumably been done and details will be released today... ..
BigBob, the problem is in your wording where you assume it will be released today.Maybe SE talking to the families is just a stage in the proceedings and not necessarly the grand final.
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10-05-2012, 02:53 PM
#11397
Originally Posted by digger
BigBob, the problem is in your wording where you assume it will be released today.Maybe SE talking to the families is just a stage in the proceedings and not necessarly the grand final.
Today?
Must mean the day between tomorrow and yesterday?
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10-05-2012, 03:08 PM
#11398
Originally Posted by digger
BigBob, the problem is in your wording where you assume it will be released today.Maybe SE talking to the families is just a stage in the proceedings and not necessarly the grand final.
Hi Digger, they are not my words they are from NZ Herald..: "Solid Energy says it will announce an update on its proposed acquisition of the Pike River Coal assets today"
There's not much ambiguity in that.... :o)
Whether the announcement is today or not is somewhat irrelevant anyway - the point is that on the face of it an agreement has been reached, which is known by both parties and maybe others too. That means that all market participants are not equally informed and as such NZO should be placed in a trading halt until this information has been released, be that today, tomorrow or some time next week....
Cheers
BigBob
Last edited by BigBob; 10-05-2012 at 03:37 PM.
Reason: added point about irrelevance of "today"
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10-05-2012, 04:11 PM
#11399
Yes yesterday i did hear that SE would announce an update but i simply took that as an update could be expected today,not necessarly all the final agreement. That is how i took it anyways. Cheers
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10-05-2012, 06:58 PM
#11400
On-going Saga of NZO-CO Aka NZ-Olde-Charity-Company
Well I wonder, would it be perhaps cheaper in the long run, to offer S/E 10 million as a sweetener,to bring a speedy end to this sordid affair?
Neither the Receiver nor S/E seem to be in a hurry to settle.
The Receiver being funded to the tune of $800000.00 a month for its thankless and hard work, waiting on S/E to move.
S/E which in turn are of course in no hurry to settle, being the only party interested in what has as predicted long,long ago descended into a garage sale.
Meanwhile NZO Management { also well remunerated for their hard & thankless work } but still being in a charitable mood, seem to be reluctant to pull the plug.
Well I say go for it while there is still SLOP IN THE TROUGH
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