NZ Oil & Gas (NZO)

[Balance]

Balance you are wrong.
PPP has always been at market value in NZOG's books.
As for write-offs in general - we work in a sector where the success rate (commercial petroleum discovery) is about 1 in 10. Write-downs for unsuccessful exploration wells are a normal course of business.
And I don't know whether it was on purpose, but to talk of investments blowing up is rather distasteful.

It wasn't on purpose but now that it is written, it is the truth.

Distasteful because of the gross mismanagement and incompetence of Pike's management and directors?

Trust me, NZOG cannot sweep this one under the carpet or bury it in one of your dry holes.

[digger]

Discussions are continuing with all the involved parties, but an outcome is anticipated shortly.

Good to see the discussions have succesfully completed and NZO has 60% and operator.
Way back last sept i spoke with AK about Tag being sucessful onshore and hoped that NZO could find a drilling target between KUPE and Tags producing wells. I still fully support todays announcement and it is the outcome i hoped for. Drilling here in NZ to my mind is far better than going overseas.Here at least we can expect to benefit from any finds. Top of my fear list is that in overseas drills we get to keep them if they are unsuccessful but they suddenly get Nationalized if the well is an elephant.
I welcome todays anouncement.

[Toulouse - Luzern]

MINE: NZO: Winning bid on Indonesian permit

NZOG (New Zealand Oil & Gas Ltd) and its partners have been announced as
winning bidder for a Production Sharing Contract (PSC) over a promising
exploration block in onshore northern Sumatra. Formal award of the PSC is
anticipated within the next couple of months.

Source:

https://www.directbroking.co.nz/Dire...id=3087698Read more:

[Balance]

MINE: NZO: Winning bid on Indonesian permit

NZOG (New Zealand Oil & Gas Ltd) and its partners have been announced as
winning bidder for a Production Sharing Contract (PSC) over a promising
exploration block in onshore northern Sumatra. Formal award of the PSC is
anticipated within the next couple of months.

Source:

https://www.directbroking.co.nz/Dire...id=3087698Read more:

Feedback from fund managers after a firm hosted NZOG :

No confidence in offshore investment strategy - NZOG can bring nothing but cash.

Matter of time before $140m cash is spent on further misadventures.

Executive options structure mean executives rank ahead of shareholders in returns.

Fund managers see no need to be invested in such a stock.

So, Noggers - it's all yours!

[fabs]

Yes, the ever shrinking percentage of potential investors interested in this pup also waking up and giving it a pass.
Seems to have been going on for quite some time, appears to now accelerate become more widespread and solidified.

[fish]

Feedback from fund managers after a firm hosted NZOG :

No confidence in offshore investment strategy - NZOG can bring nothing but cash.

Matter of time before $140m cash is spent on further misadventures.

Executive options structure mean executives rank ahead of shareholders in returns.

Fund managers see no need to be invested in such a stock.

So, Noggers - it's all yours!

Typical unBALANCED heresay

credit suisse and forsyth Barr have both valuations (may 2012) over $1.00 and accumulate .
Forgot about kupe ?
Annual income is well above exploration expenditure so the $140m could increase with time even accounting for the 5 cent dividend plus imps.

Agree that nzo is out of favour in current climate and prc .
Wont be long before profits and dividend announcement will change sentiment.
Buy back is going slow but ultimately will help nzo shareholders -acquiring shares below nta is a good thing for loyal shareholders.
Personally I have never trusted or even been impressed by fundmanagers-in fact i dislike them so much that i wont invest in kiwisaver

[troyvdh]

Thanks fish....balance....can you remind me (or the rest of us) what you are positive about (holdings would be appreciated greatly)...cheers...

[777]

Put him on your ignore list like I do. Then you don't have to read the dribble.

[Balance]

Typical unBALANCED heresay

credit suisse and forsyth Barr have both valuations (may 2012) over $1.00 and accumulate .
Forgot about kupe ?
Annual income is well above exploration expenditure so the $140m could increase with time even accounting for the 5 cent dividend plus imps.

Agree that nzo is out of favour in current climate and prc .
Wont be long before profits and dividend announcement will change sentiment.
Buy back is going slow but ultimately will help nzo shareholders -acquiring shares below nta is a good thing for loyal shareholders.
Personally I have never trusted or even been impressed by fundmanagers-in fact i dislike them so much that i wont invest in kiwisaver

Hahaha.

Forsyth Barr has had a buy/accumulate on the stock all the way down from $1.80. What their analyst has not accounted for is management incompetence and propensity to destroy wealth.

Take the feedback for what it is - fund managers saying that they cannot see why they should invest in the stock.

Instead, we get the usual heads in the sand approach in full cry.

[brucey09]

Snr Balanced
A lighter question - how can a person be in full cry under sand?