NZ Oil & Gas (NZO)

[arjay]

It is certainly true that NZO had little experience in coal mining. That is part of why they floated PRC off as a seperate entity. Notwithstanding the backgrounds of the directors of PRC, the bulk of PRCs workers were highly experienced, so questions do need to be asked about their inactions if unsafe practises were so widely understood as some would have us believe.

NZO is an experienced and safety conscious oil explorer and producer. This is evident from 30 years of activity where dozens of wells have been drilled, producing fields developed in the Ngaroto, Tui and Kup areas, and long term production maintained with a near perfect safety record. Balance seems to conveniently overlook all this while he bangs on about PRC.

[brucey09]

Snr. Arjay
Nzo is never an experience oporator - an investor . yes.

It is certainly true that NZO had little experience in coal mining. That is part of why they floated PRC off as a seperate entity. Notwithstanding the backgrounds of the directors of PRC, the bulk of PRCs workers were highly experienced, so questions do need to be asked about their inactions if unsafe practises were so widely understood as some would have us believe.

NZO is an experienced and safety conscious oil explorer and producer. This is evident from 30 years of activity where dozens of wells have been drilled, producing fields developed in the Ngaroto, Tui and Kup areas, and long term production maintained with a near perfect safety record. Balance seems to conveniently overlook all this while he bangs on about PRC.

[Balance]

It is certainly true that NZO had little experience in coal mining. That is part of why they floated PRC off as a seperate entity. Notwithstanding the backgrounds of the directors of PRC, the bulk of PRCs workers were highly experienced, so questions do need to be asked about their inactions if unsafe practises were so widely understood as some would have us believe.

Who shall we believe? Arjay or the RC as to whether PRC had experienced staff?

RC Report states :

1. There were numerous warnings and reports of a potential disaster at the mine but they were ignored;
2. The workforce was inexperienced and had inadequate training. They failed to follow procedure, bypassed safety functions of equipment which allowed them to work “recklessly” in a dangerous methane environment.

The report also reveals how incidents leading up to the main explosion were reported and then ignored by managers.
‘In the 48 days before the before the explosion, there were 21 reports of methane levels reaching explosive volumes and 27 reports of lesser but potentially dangerous volumes. The warnings were not heeded,” it states.
A backlog of accidents and incidents were also written off by management before the disaster and not investigated.

[Balance]

NZO is an experienced and safety conscious oil explorer and producer. This is evident from 30 years of activity where dozens of wells have been drilled, producing fields developed in the Ngaroto, Tui and Kup areas, and long term production maintained with a near perfect safety record. Balance seems to conveniently overlook all this while he bangs on about PRC.

Straight out of the PR machine of NZOG!

[Balance]

The alarm bells certainly rang for some! Many workers and some staff left PRC because of their concerns. I quit my holdings at a profit when I became concerned that the media releases bore little reality to what was happening on the ground or were very late in being released.
Being on the Coast and able to speak with PRC workers and others experienced in the industry left me in no doubt that PRC was in serious trouble. Other miners would have left but were economic hostages or lacked the experience to appreciate the dangers.
I did post my concerns on this site but the warnings along with "Balances" were not well received. You can lead a horse to water etc.

One poster attempted to have 'dissenters' banned from this site for sp manipulation, instead of taking heed of the warnings.

You know who you are.

[arjay]

Who shall we believe? Arjay or the RC as to whether PRC had experienced staff?

RC Report states :

1. There were numerous warnings and reports of a potential disaster at the mine but they were ignored;
2. The workforce was inexperienced and had inadequate training. They failed to follow procedure, bypassed safety functions of equipment which allowed them to work “recklessly” in a dangerous methane environment.

The report also reveals how incidents leading up to the main explosion were reported and then ignored by managers.
‘In the 48 days before the before the explosion, there were 21 reports of methane levels reaching explosive volumes and 27 reports of lesser but potentially dangerous volumes. The warnings were not heeded,” it states.
A backlog of accidents and incidents were also written off by management before the disaster and not investigated.

What has this to do with NZOs experience as an oil explorer? Really Balance, you should try to read posts before replying.

Brucey = Agreed that NZO may not be an experienced operator, however the word I used was explorer, adn they have had heaps of experience there. Their discoveries highlight this. From Balance's post it would appear the the RC had some harsh things to say about NZOs record in oil exploration.

[Balance]

What has this to do with NZOs experience as an oil explorer? Really Balance, you should try to read posts before replying.

Brucey = Agreed that NZO may not be an experienced operator, however the word I used was explorer, adn they have had heaps of experience there. Their discoveries highlight this. From Balance's post it would appear the the RC had some harsh things to say about NZOs record in oil exploration.

Please don't insult us our intelligence by trying to change the subject.

I was replying directly to your assertion :

You wrote - "It is certainly true that NZO had little experience in coal mining. That is part of why they floated PRC off as a seperate entity. Notwithstanding the backgrounds of the directors of PRC, the bulk of PRCs workers were highly experienced, so questions do need to be asked about their inactions if unsafe practises were so widely understood as some would have us believe."

I replied - The RC Report states : "The workforce was inexperienced and had inadequate training. They failed to follow procedure, bypassed safety functions of equipment which allowed them to work “recklessly” in a dangerous methane environment."

[Balance]

Welcome to the forum RTM. However Balance will say you are simply shifting the blame when it is clear that all that is wrong with the world lies at the feet of NZOG managment.

Glad you make that point, Digger.

So much of what is wrong with NZOG management reflects what RTM has written as wrong about NZ.

Topmost is the fact that we have management and politicians well past their used by dates hanging on for their lives to the positions which determine the future of companies, businesses, the economy and NZ.

It is okay if they are like old boxers who do not quit - they only hurt themselves and in some instances, kill themselves.

It is not okay when their decisions to stay in their jobs cost the lives of others.

The worse part is that we now have many of them denying any responsibility for what has gone wrong! But they are happy to pocket millions of dollars of fees and perks.

[skid]

God help us if we change the subject on the NZO thread to oil exploration

[Balance]

God help us if we change the subject on the NZO thread to oil exploration

Most critical point of assessment of investing in a company is management.

I find it intriguing how many posters want to sweep the dust from the explosion of Pike River coal into the river and pretend it never happened!

Seriously, how does the gross mismanagement of the PRC investment reflect on the competency of the NZOG directors and management to make and manage investments of shareholders' wealth?